Which aspect is not typically covered by replacement cost coverage?

Replacement cost coverage typically provides compensation for the cost of replacing damaged or destroyed property with new items, without deducting for depreciation. This means that if a covered item is damaged, the policy will reimburse the insured the cost to replace it with a similar new item of like kind and quality, rather than what the item was worth after depreciation.

In this context, the aspect that is not covered by replacement cost coverage is the depreciation applied to old items. When a claim is made, replacement cost coverage does not factor in how much value an item has lost over time. Instead, it focuses purely on the cost to replace the item, which is typically higher than its depreciated value. This focus on the current cost for new items directly aligns with the goal of replacement cost coverage, which is to ensure the policyholder can restore their situation to its original state without financial loss due to depreciation.

The other aspects mentioned involve costs or values that align with typical expectations of replacement cost coverage. Costs for new items and installation expenses can be included, and the total cost for complete replacement reflects the intent of the coverage to restore, rather than deducting for the decrease in value of the old item.