Sentences with phrase «contents on a replacement cost basis»

Most building settlements are on Guaranteed Replacement cost and many policies settle contents on a Replacement Cost basis.

Not exact matches

If you prefer to have claims resolved in a way that allows you to replace your contents on a new - for - old basis, then replacement cost should be your choice.

If you prefer to have claims resolved in a way that allows you to replace your contents on a new - for - old basis, then replacement cost should be your choice.

When purchasing a renter's insurance policy it is very important to ask about «replacement cost on contents» otherwise a claim settlement will be based on the actual cash value of your items as opposed to what it will cost to replace them.

With a typical homeowners policy, after a loss you would be reimbursed based on your items» depreciated value (its original value minus depreciation for time, wear, damage, etc.), but with Contents Replacement Cost coverage, the value of any damaged or destroyed item is based on the cost of a new one with similar featuCost coverage, the value of any damaged or destroyed item is based on the cost of a new one with similar featucost of a new one with similar features.

Rebuilding your personal contents, or even worse, your home on an actual cash value or depreciated basis leaves you at a loss compared to replacement cost settlements.

Replacement cost insurance - Covers property — both building and contents — on the basis of full replacement cost without deduction for depreciation on any loss sustained, subject to the terms of the co-insuraReplacement cost insurance - Covers property — both building and contents — on the basis of full replacement cost without deduction for depreciation on any loss sustained, subject to the terms of the co-insurareplacement cost without deduction for depreciation on any loss sustained, subject to the terms of the co-insurance clause.

This issue can be prevented if the value of the contents is set on an agreed value basis that captures the replacement cost of items.