What is an incurred cost?

An incurred cost is a cost arising from the consumption of an asset or service, or from a loss that has been sustained. Proper business planning requires management to have a detailed understanding of incurred costs in relation to revenues, in order to maintain an adequate level of profitability.

What are insured costs?

Insured Costs means all necessary and reasonable costs and expenses incurred by the Insurer, or by the Insured with the Insurer's prior written consent, in defending, investigating or settling any Claim or Claims (not being Inquiry Costs or claimant ’s costs and expenses).

What is the cost of something?

The cost of something is the amount of money that is needed in order to buy, do, or make it. [...] Collins COBUILD Advanced Learner’s Dictionary. Copyright © HarperCollins Publishers If you incur something unpleasant, it happens to you because of something you have done. [...] Collins COBUILD Advanced Learner’s Dictionary.

How much does it cost to install an air source?

What does it cost to install one? Don’t believe some of the quoted prices that have appeared in recent days, someone with a family-size three-bed house and larger can expect to pay £8,000-£15,000 in total to install a complete air source system, while fitting out a bigger home will cost more.