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Neuwert

English translation: replacement value

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Neuwert
English translation:replacement value
Entered by: Steffen Walter
Options:
- Contribute to this entry
- Include in personal glossary

06:44 Dec 19, 2003
German to English translations [PRO]
Bus/Financial - Insurance
German term or phrase: Neuwert
Guten Morgen, hier ist ein Satz, der mir Probleme macht:

Die Versicherung besteht zum geltenden Neuwert

insurance covers the current reinstatement value

insurance based on current reinstatement value

Wohngebäudeversicherung gegen Schäden durch Feuer

DANKE
danilingua
Germany
Local time: 04:06
replacement value
Explanation:
also confirmed by Dietl/Lorenz

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Note added at 44 mins (2003-12-19 07:28:22 GMT)
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Thus the insurance policy should be a so-called \"replacement cover\" -> see e.g. http://www.asiatradingonline.com/insurance.htm

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Note added at 1 hr 3 mins (2003-12-19 07:47:44 GMT)
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Ach ja, noch ein Versicherungs-Glossar:
http://www.gutenberg.net/etext02/8inde10.txt (De>En)
http://www.gutenberg.net/etext02/8ined10.txt (En>De)

Dort tauchen sowohl \"replacement value\" als auch \"reinstatement value\" auf.

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Note added at 1 hr 13 mins (2003-12-19 07:57:36 GMT)
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After your addition: you are right, Gareth, with regard to sales brochures vs policies. The fundamental question here is how the \"geltende Neuwert\" is defined. Just trying to find a German def...

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Note added at 1 hr 19 mins (2003-12-19 08:03:22 GMT)
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http://www.merkur.at/mak/pdf/sv_tarifhandbuch/buendel_versic... contains the following clause (*** added by me):

\"3. VERSICHERUNGSWERT/ERSATZLEISTUNG INKL. NEUWERTKLAUSEL

Der Versicherungswert ist ***der am Schadentag geltende Neuwert*** der versicherten Sachen, d.s. die Kosten für deren Neuanschaffung einschließlich der Kosten für Fracht (exkl. Luftfracht), Zoll und Montage (ohne Preisnachlass wie Einkaufsrabatt, Mengenrabatt u. dgl.) am Schadentag.\"

Thus I\'d go either for \"current replacement value\" or \"current reinstatement value\" (IMO the term \"current\" implies the \"new\").
Selected response from:

Steffen Walter
Germany
Local time: 04:06
Grading comment
Hi Gareth and Steffen, Hi Jerrie, we know this is not about points, so thank you for your answers. It is really the cost determined every year on the basis of some "Faktoren" to replace the building from 1914 at the current building cost. So I did describe that in a footnote, because that value changes every year, depending on the current "Baukostenspiegel" in the area/village..... German laws...

Merry Christmas!
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +5(current) new value
Gareth McMillan
4 +4replacement value
Steffen Walter
5Cost of replacementJan Liebelt
5 -1current valuelindaellen
3 +1reinstatement - buildings / replacement - contents
jerrie
4 -1original value
Sabina Winkler CAPIRSI


Discussion entries: 10





  

Answers


7 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -1
neuwert
original value


Explanation:
.

Sabina Winkler CAPIRSI
Germany
Local time: 04:06
Native speaker of: Native in GermanGerman

Peer comments on this answer (and responses from the answerer)
disagree  Gareth McMillan: If the items to be replaced are 10 years old?
44 mins
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12 mins   confidence: Answerer confidence 5/5 peer agreement (net): -1
current value


Explanation:
"Neuwert" is the current value to replace the insured object - not the original value, which may in fact be more or less on today's market. I think just current value is enough.

lindaellen
Native speaker of: Native in EnglishEnglish

Peer comments on this answer (and responses from the answerer)
neutral  Gareth McMillan: Just to be enough provides the insurer with a loophole- current value is not necessarily new vale.
38 mins

neutral  Tobi: i'm not 100% sure, but i think current value is 'Zeitwert'
40 mins

disagree  Jan Liebelt: It could currently be worth nothing. The "Neuwert" is the cost of replacing something, not what it's worth now.
1 hr
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42 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +4
neuwert
replacement value


Explanation:
also confirmed by Dietl/Lorenz

--------------------------------------------------
Note added at 44 mins (2003-12-19 07:28:22 GMT)
--------------------------------------------------

Thus the insurance policy should be a so-called \"replacement cover\" -> see e.g. http://www.asiatradingonline.com/insurance.htm

--------------------------------------------------
Note added at 1 hr 3 mins (2003-12-19 07:47:44 GMT)
--------------------------------------------------

Ach ja, noch ein Versicherungs-Glossar:
http://www.gutenberg.net/etext02/8inde10.txt (De>En)
http://www.gutenberg.net/etext02/8ined10.txt (En>De)

Dort tauchen sowohl \"replacement value\" als auch \"reinstatement value\" auf.

--------------------------------------------------
Note added at 1 hr 13 mins (2003-12-19 07:57:36 GMT)
--------------------------------------------------

After your addition: you are right, Gareth, with regard to sales brochures vs policies. The fundamental question here is how the \"geltende Neuwert\" is defined. Just trying to find a German def...

--------------------------------------------------
Note added at 1 hr 19 mins (2003-12-19 08:03:22 GMT)
--------------------------------------------------

http://www.merkur.at/mak/pdf/sv_tarifhandbuch/buendel_versic... contains the following clause (*** added by me):

\"3. VERSICHERUNGSWERT/ERSATZLEISTUNG INKL. NEUWERTKLAUSEL

Der Versicherungswert ist ***der am Schadentag geltende Neuwert*** der versicherten Sachen, d.s. die Kosten für deren Neuanschaffung einschließlich der Kosten für Fracht (exkl. Luftfracht), Zoll und Montage (ohne Preisnachlass wie Einkaufsrabatt, Mengenrabatt u. dgl.) am Schadentag.\"

Thus I\'d go either for \"current replacement value\" or \"current reinstatement value\" (IMO the term \"current\" implies the \"new\").


    Reference: http://www.contents-insurance-uk.co.uk/contents-insurance-uk...
    Reference: http://www.raa.net/building_calc.asp?TerID=209
Steffen Walter
Germany
Local time: 04:06
Native speaker of: Native in GermanGerman
PRO pts in category: 200
Grading comment
Hi Gareth and Steffen, Hi Jerrie, we know this is not about points, so thank you for your answers. It is really the cost determined every year on the basis of some "Faktoren" to replace the building from 1914 at the current building cost. So I did describe that in a footnote, because that value changes every year, depending on the current "Baukostenspiegel" in the area/village..... German laws...

Merry Christmas!

Peer comments on this answer (and responses from the answerer)
neutral  Gareth McMillan: replacement is not specific enough, and no room for clarification in the asker's short sentence.ADD: Sorry, but your sources are only sales brochures, policies are much more specific.
11 mins
  -> I do think that my sources *are* specific enough, and they are using this term.

agree  Tobi: sounds good
11 mins
  -> Thanks.

neutral  Jan Liebelt: I personally think "replacement *cost*" is better (see my answer below)
1 hr

agree  Marshall Waddell: Replacement value is what I commonly see.
9 hrs

agree  vafo: commonly used
16 hrs

agree  Marcelo Silveyra: It's really important to make it clear that this term IS specific enough, in contrast to what Gareth says ("replacement cost" also works). http://www.bankrate.com/brm/green/insurance/basics3-1a.asp?c... (home insurance example)
1533 days
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1 hr   confidence: Answerer confidence 5/5
Cost of replacement


Explanation:
Or simply "replacement cost".

Google gives the former 46,000 hits and the latter 251,000.


    Reference: http://insurance.cch.com/rupps/replacement-cost.htm
    Reference: http://www.hyperdictionary.com/dictionary/replacement+cost
Jan Liebelt
France
Local time: 04:06
Native speaker of: Native in EnglishEnglish

Peer comments on this answer (and responses from the answerer)
neutral  Gareth McMillan: Well done google. But what is the cost of replacement and on what basis?
14 hrs
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3 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
reinstatement - buildings / replacement - contents


Explanation:
This UK site uses the 'reinstatement' value/cost for buildings, and 'replacement' value/cost for contents.

Contents: also 'new for old', but if Insured wants 'cash' payment, an 'indemnity' value might be reached where deductions are made for wear and tear.


    Reference: http://www.instant-home-insurance.co.uk/new-for-old.htm
jerrie
United Kingdom
Local time: 03:06
Native speaker of: Native in EnglishEnglish

Peer comments on this answer (and responses from the answerer)
agree  Gareth McMillan: Agree but on the basis of "new for old".
12 hrs
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46 mins   confidence: Answerer confidence 5/5 peer agreement (net): +5
neuwert
(current) new value


Explanation:
In UK this would be a "new for old" policy which is the most common for household insurance. This is a phrase which is also fully recognised by the courts.
It means that in the event of loss or damage, the company will reimburse the value, (at the time of the fire), of a NEW equivalent item.

So you could either incorporate the "new for old" phrase:
Insurance compensation is "new for old".
or your sentence could read:
The insurance reimburses (or compensates) the current new value.

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Note added at 54 mins (2003-12-19 07:38:50 GMT)
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The word \"new\" is absolutely crucial to your text!!!

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Note added at 16 hrs 41 mins (2003-12-19 23:25:49 GMT)
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Steffen, there is nothing I would like more than to agree with you, beleive me, I just feel that the source text may not have used the word \"new\" naively and we should refer to this point as we cannot read their minds.
\"New\" also has the same inferences/connotations in English, so why make it complicated or run the risk of missing some subtle point which the writer wants to make when we can use the same word with safety??

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Note added at 1 day 6 hrs 24 mins (2003-12-20 13:08:19 GMT)
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Regarding Steffen\'s highly interesting piece of research- you must read his comment below- a very good reason to stay away from this minefield, and keep your translation as literal as aesthetically possible- let the writers worry about the implications. I think it\'s enough to inform them separately, and I\'m sure they\'ll be grateful for the tip.

Gareth McMillan
Local time: 04:06
Native speaker of: Native in EnglishEnglish

Peer comments on this answer (and responses from the answerer)
agree  matias
11 mins
  -> Thank you.

agree  Simona de Logu: yes, insurance on a new-for-old basis.
2 hrs
  -> Thanks- nicely put.

agree  Glyn Haggett
3 hrs
  -> Thank you.

agree  Steffen Walter: Daniela may have to paraphrase anyway as the concept of "gleitender Neuwert" (i.e. "new for old", if you will, or "current replacement value") starts from a base value computed for the year of 1914 (this seems to be a system confined to Germany).
1 day 4 hrs
  -> Wow! I love these old German anomolies. Here's another. A car built before 1947 doesn't require brake lights, but if you put them on, (for safety), they must conform to newest standards. So you leave them off, get hit up the rear, and it's not your fault!

agree  Mario Marcolin: :)
2 days 10 hrs
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Changes made by editors
Mar 1, 2008 - Changes made by Steffen Walter:
Term askedneuwert » Neuwert
Field (specific)(none) » Insurance


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