The value of insurance products is relative to the value of replacement by other financial products, insurance product s acquisition cost, and the value preference of insurance buyers.

保险产品价值具有相对性，它的相对性是相对于可替代性金融产品的价值、保险产品的获得成本、保险消费者的价值偏好而言的。

youdao

The insurance amount shall be equivalent to the replacement value of the Total Works plus materials, goods and work provided by the Client.

保险金额必须相当于所有工作的重置价值加上由客户提供的材料、货品和工程。

youdao

For insurance purposes, the replacement cost of a home is NOT the market value of the home, its purchase price or the outstanding amount of any mortgage loan.

FORBES: Are You Prepared for a Disaster?