Under insurance: If actual value of insured property at the time of loss under fire benefit is greater than the sum insured opted then the claim is reduced in the same proportion. (policybazaar.com)
Homeowners insurance covers the cost to repair or replace any of your damaged or stolen insured property in cases of theft. (netquote.com)
That's because the actual owner of the home would insure their property for damage to the structure itself. (money-zine.com)