Basically, this states that they will cover you for the full cost of replacing the home, even if the future cost of construction is more than the policy coverage. (homebuyinginstitute.com)
This does not, however, cover your personal property or the actual cost of replacing your home. (insureme.com)
It gives your family a hedge against the financial cost of replacing items lost to fire, theft or other occurrences. (rentersinsurance.net)