The other is by using full replacement value of the insured possessions. (rentersinsurance.net)
The amount you pay for insurance will go up if you want additional coverage for high value possessions, or you want full replacement value coverage vs. actual cash value coverage. (trustedchoice.com)
As with storage, insurance is a necessity and should be offered at full replacement value as opposed to spot prices. (hardassetsalliance.com)