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Replacement
Cost Contents
This
coverage changes the homeowners loss settlement on Personal Property ("Coverage
C" on the policy) from an Actual Cash Value basis to a Replacement
Cost basis. The difference between the two values is physical depreciation.
This is the one coverage that clients value most (or miss the most) when
they have a loss. If you can only afford to add a few "extra coverages"
onto your policy, we strongly recommend that you make this one of the ones
you add.
Guaranteed
Replacement Cost Dwelling
Most
insurance policies will never pay more to rebuild your home than the limit
of insurance you purchase. This endorsement guarantees that your home will
be rebuilt as it was, even if it costs more than your policy limit. Of
course, the insurance company will ask you to insure to their best estimate
of the full replacement cost of your home, but this endorsement adds the
peace of mind of knowing that your home will be rebuilt.
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