Total replacement cost pays the dollar amount of the cost to replace your property at today's prices, regardless of how old it was when it disappeared. (einsurance.com)
If you have the extra money, it is worth considering total replacement coverage. (rentersinsurance.net)
You can also take out total replacement policies — under these policies the insurer agrees to rebuild your home to a similar standard and quality, rather than paying an agreed amount. (insurancelaw.org.au)