Full replacement or guaranteed replacement coverage pays out for losses based on the present day replacement cost to buy a lost item new on the market today. (rentersinsurance.net)
Guaranteed Replacement coverage usually requires you to insure to 100 percent of the evaluated reconstruction cost of your dwelling. (thebalance.com)
While ACV coverage costs less, guaranteed replacement coverage gets you much closer to the amount of money you would actually need to replace everything you have lost in a claim situation. (rentersinsurance.net)