Sentences with phrase «full replacement cost of each item»

For a small additional premium, you can choose to carry full value coverage on your personal property, which ensures that you will be paid the full replacement cost of items that are damaged or stolen without deduction for depreciation.

Contents replacement cost: The contents replacement cost endorsement covers the full replacement cost of your items in the event of a covered loss.

When an insurance company issues a replacement value policy, the policy covers the full replacement cost of the item.

When you have this type of coverage, you will get full replacement cost of an item without taking depreciation into account.

Not exact matches

Full replacement is exactly what it sounds like — the company will reimburse you for the cost of your belongings for what they're worth at the time of replacement (even if the price has gone up since you first purchased the items).

You can also select renters insurance policy enhancements and add - ons such as valuable items coverage or extra coverage for your belongings for full replacement cost regardless of depreciation.

Actual cash value means you'll be reimbursed for the cost of your damaged item at its current, depreciated value, while replacement cost means you'll receive the full cost of replacing the item with something new.

Replacement cost coverage usually reimburses you for the full cost of replacing the lost, stolen or damaged item, rather than simply reimbursing you for the value of the item at the time of the claim.

You can also select renters insurance policy enhancements and add - ons such as valuable items coverage or extra coverage for your belongings for full replacement cost regardless of depreciation.

While some policies only cover the current «depreciated value» of your personal belongings, a more expensive «replacement value» policy will cover the full cost replacing covered items new.

Replacement Cost Coverage — Replacement Cost Coverage usually reimburses you for the full cost of replacing the items you lose, rather than simply reimbursing you for the value of the item at the time it was lCost Coverage — Replacement Cost Coverage usually reimburses you for the full cost of replacing the items you lose, rather than simply reimbursing you for the value of the item at the time it was lCost Coverage usually reimburses you for the full cost of replacing the items you lose, rather than simply reimbursing you for the value of the item at the time it was lcost of replacing the items you lose, rather than simply reimbursing you for the value of the item at the time it was lost.

By contrast, replacement coverage will reimburse you for the full cost of replacing the item at today's prices.

Your insurance company will generally allow you several months from the date of the cash value payment to replace the items and collect full replacement cost.

Replacement cost coverage is a bit pricier, but it reimburses the full cost of replacing or repairing a damaged or destroyed item, even if it goes above the policy limits.

Although replacement cost coverage is more expensive, it will provide you with the full amount of compensation necessary to replace lost or damaged items with brand new ones, regardless of the depreciated value of the items you lost.

If you replace the items with an item of similar quality, within a specified time, the insurer will reimburse you the full replacement cost you to replace the item rather than the depreciated value.

A replacement cost clause is a clause in an insurance contract that states that the full replacement value will of an item will be reimbursed in the event of a total loss.

Some property insurance policies cover the full replacement cost of an insured item, whereas others may only cover the actual cash value.

For additional coverage, consider purchasing an optional «personal property rider» on your existing policy, which will provide coverage for the full replacement cost (the cost to purchase similar items in the same condition) of your valuables.

Guaranteed replacement coverage costs more but provides you with reimbursement to cover the full present - day cost of purchasing the item lost, whereas ACV coverage depreciates the loss based on the age of the item.

ACV coverage bases reimbursement on depreciated value, while full replacement coverage pays out based on the purchase cost of a similar new item.

Replacement - cost coverage is more expensive but it will provide you with the full funding necessary to replace lost or damaged items with new ones, regardless of the depreciated value of your actual belongings.

If you have a full replacement cost clause in your policy you will be rewarded the actual cost of the items that you have to replace.

Actual cash value or ACV coverage has a less expensive premium, but it only reimburses the policy holder for the depreciated value of an item lost in a claim situation, while full replacement pays out for the present - day cost of a new replacement item.

On the other hand, if you buy a replacement cost value (RCV) policy, you pay more in premiums each month, but when you experience a loss, the insurer pays out the full price of the item with no deduction at all for depreciation.

Most policies written today use Full Replacement Value coverage which will pay for full replacement costs up to the limits of the policy, but some insurers still write policies for Actual Cash Value, which only pays you a depreciated amount for the losses based on the age and condition of the items involFull Replacement Value coverage which will pay for full replacement costs up to the limits of the policy, but some insurers still write policies for Actual Cash Value, which only pays you a depreciated amount for the losses based on the age and condition of the itemReplacement Value coverage which will pay for full replacement costs up to the limits of the policy, but some insurers still write policies for Actual Cash Value, which only pays you a depreciated amount for the losses based on the age and condition of the items involfull replacement costs up to the limits of the policy, but some insurers still write policies for Actual Cash Value, which only pays you a depreciated amount for the losses based on the age and condition of the itemreplacement costs up to the limits of the policy, but some insurers still write policies for Actual Cash Value, which only pays you a depreciated amount for the losses based on the age and condition of the items involved.

With a replacement cost plan, you will be getting the full value of replacements for your lost items.

Depending on the policy, it replaces a percentage of the cost of the item or the full cost of replacement

Your insurance company will generally allow you several months from the date of the cash value payment to replace the items and collect full replacement cost.