Neuwert

English translation: replacement value

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)

German term or phrase:	Neuwert
English translation:	replacement value
Entered by:	Steffen Walter

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 KudoZ activity Questions: 971 (none open) (8 closed without grading) Answers: 173 Germany
Local time: 21:56

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: 21:56

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

Summary of answers provided

5 +5

(current) new value

Gareth McMillan

4 +4

replacement value

Steffen Walter

Cost of replacement

Jan Liebelt

5 -1

current value

lindaellen (X)

3 +1

reinstatement - buildings / replacement - contents

jerrie

4 -1

original value

Sabina Winkler CAPIRSI

Discussion entries: 10

Non-ProZ.com

explanation

15:29 Dec 20, 2003

Hi, thank you - after I talked to the insurance company, I went for a footnote...... thanks for the footnotes and "translator's note".....

THanks and have a niced weekend - now working on orthopaedic technology...

Gareth McMillan

Could someone translate this please? Can't understand German (well, it looks like German).

22:55 Dec 19, 2003

Non-ProZ.com

DANKE DANKE DANKE!!!

08:47 Dec 19, 2003

Steffen Walter

Germany

08:46 Dec 19, 2003

Non-ProZ.com

good thing I called!! here is the solution:

08:13 Dec 19, 2003

1) "gleitender Neuwert" - bad fax transmission
hei�t, Preise werden auf 1914 zur�ck gerechnet. Jedes Jahr wird mittels eines Umrechnungsfaktors die Versicherungssumme angepasst, und zwar an die aktuellen Baukosten, d.h., brennt das Haus heute ab, und hat vorher 30000m Reichsmark gekostet (die haben wir hier), bekommt er heute ein neues Haus bezahlt, also w�rde er neu bauen (was er ja auch muss, wenne s abgebrannt ist)

wir arbeiten also hier mit dem orts�blichen Neuwert... das tut mir leid jetzt, wir suchen nicht mehr den "geltenden Neuwert" sondern den "gleitenden Neuwert" (und REichsmark muss ich auch noch erkl�ren)
DANKE

Non-ProZ.com

muss ic h fragen

07:54 Dec 19, 2003

Die Versicherungssumme betr�gt 25.460 M. ich rufe an und sage Bescheid

Steffen Walter

Germany

07:52 Dec 19, 2003

Steffen Walter

Germany

07:51 Dec 19, 2003

Non-ProZ.com

http://www.abamatthews.com/house_buying_advice.htm

07:48 Dec 19, 2003

Settling the Transaction
Finally, we will make arrangements with any mortgage lender to ensure that your loan funds are available when required. We will also write to you in advance of settlement with instructions for payment of any contribution you are making to the purchase price from your own funds. You will require to arrange buildings insurance for at least the current reinstatement value of the property commencing on the date of entry as well as contents insurance. We are happy to arrange your buildings and contents insurance policies on request. Once the price has been paid over and you have moved into the property we will notify the Local Council of the change of ownership for the purposes of Council Tax. We are also on hand to offer such other practical advice as we can, particularly if you are new to the area.

das habe ich noch gefunden - die Police geht nach Kanada und soll dort der Vers. gesellsch. best�tigen, dass der Kunde aus Dtl. ein "zuverl�ssiger Zahler" ist. Aber die Fachbegriffe m�ssen rein....:-(

Non-ProZ.com

erst einmal

07:46 Dec 19, 2003

danke f�r die Vorschl�ge!!

Was ist denn mit dem "reinstatement value". Ich habe bei google "Neuwert" und "r.v." eingegeben, und es ist erschienen, und es ist so, wie Gareth sagt. Das w�rde ich noch gerne wissen :-))

Ansonsten - danke!!

Answers

7 mins confidence:

peer agreement (net): -1

neuwert original value

Explanation:
.

Sabina Winkler CAPIRSI
Germany
Local time: 21:56
Native speaker of:

German

12 mins confidence:

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 (X)
Native speaker of:

English

42 mins confidence:

peer agreement (net): +4

neuwert

replacement value

Steffen Walter
Germany
Local time: 21:56
Native speaker of:

German
PRO pts in category: 216

Grading comment

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

1 hr confidence:

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: 21:56
Native speaker of:

English

3 hrs confidence:

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: 20:56
Native speaker of:

English

46 mins confidence:

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: 21:56
Native speaker of:

English

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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English translation: replacement value

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