deduction new for old

noun

Definition of deduction new for old

: a subtraction made by a marine underwriter from the total cost of repairs in paying a claim under a hull-insurance policy to allow for the gain in excess of loss to the shipowner resulting from the new material installed during repairing

Love words?

You must — there are over 200,000 words in our free online dictionary, but you are looking for one that’s only in the Merriam-Webster Unabridged Dictionary.

Start your free trial today and get unlimited access to America's largest dictionary, with:

  • More than 250,000 words that aren't in our free dictionary
  • Expanded definitions, etymologies, and usage notes
  • Advanced search features
  • Ad free!

Learn More about deduction new for old

Statistics for deduction new for old

Cite this Entry

“Deduction new for old.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/deduction%20new%20for%20old. Accessed 6 Mar. 2021.

Style: MLA
MLA Chicago APA Merriam-Webster

Comments on deduction new for old

What made you want to look up deduction new for old? Please tell us where you read or heard it (including the quote, if possible).

WORD OF THE DAY

Test Your Vocabulary

Who Knew?

True or False

Test your knowledge - and maybe learn something along the way.

TAKE THE QUIZ
 AlphaBear 2

Spell words. Make bears.

TAKE THE QUIZ
Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!