1590s, from better (v.) + -ment.

Means through the tax system of capturing the development value of land for the benefit of the community.

Expense that contributes towards improvement in an asset’s performance or/ and enhancement in its value excluding general maintenance work on the asset.

An expenditure having the effect of extending the useful life on an existing fixed asset, increasing its normal rate of output, lowering its operating cost, increasing rather than merely maintaining e [..]

Betterment, in reference to real estate, is an addition, improvement, or modernization that adds value to the property.    

(n) a change for the better; progress in development(n) an improvement that adds to the value of a property or facility(n) the act of relieving ills and changing for the better

The payment you make towards a claim should your car be worth more following repairs after an insurance claim than it was beforehand.

A situation where the condition of an insured item has become better following a repair or replacement

is improvement of the motorcycle or property to a greater value than its pre-loss condition

The value of the improvement in insured property when it has been repaired, or replaced after a loss.

An improvement you make after you move into your home. Applies mostly to condominiums. Some condominium policies only insure your condo unit as it was when you bought it. If you improve your unit, the improvements (betterments) aren’t covered. If you live in a condo, ask your agent to explain what the building policy covers and what it says about b [..]

An improvement made to the standard of insured property when it is repaired or replaced following a claim. Insurers may expect the insured to pay something towards the claim in these circumstances. An [..]

A term used to describe an advantage that an insured receives under an insurance policy, where the property being reinstated after a claim is left in a better or more valuable position than it was prior to the claim. Depending upon the policy conditions, the insurer may reduce the amount paid under the policy, or seek a contribution towards the cos [..]

many insurance carriers will charge the customer for actually providing a part or assembly (usually a commonly replaced item subject to wear over the life expectancy of the vehicle) that is better than what the owner had at the time of loss. i.e. tires, battery

A company owned and established primarily for an organisation to insure its own losses, and transfer catastrophe risks to reinsurers.

When your damaged vehicle is sent for repair, it is normal that some wrecked parts are replaced with new franchise parts. Your insurer will only bear a portion of the costs. You will have to pay the difference according to the standard scale of betterment which can range from 0% to 40%.

See Improvements and Betterments Insurance.

An addition made to, or change made in, a capital asset, other than maintenance, that is anticipated to prolong its expected useful life or to increase its capacity, efficiency, or quality of output.

(1) Improvements that result in better quality, higher capacity, or an extended useful life; or (2) work that is required to accommodate regulatory and other requirement changes

Way of capturing, through the tax system, some of the development value of land for the benefit of the community.

An insurance term that refers to the incremental increase in market value due to a repair or replacement, which renders the property more valuable than prior to damage or loss.

the amount by which the value of land is increased by development or by the grant of planning permission, or because of the development of neighbouring land.