Does your policy
provide guaranteed replacement cost — which, for obvious reasons, since houses appreciate in value, may be almost prohibitively expensive?
That's because most classic, antique and specialty vehicle policies
provide guaranteed replacement costs in the event of a total loss.
Not exact matches
Replacement Cost Guarantee provides the full cost to repair or replace your dwelling or personal property, even if you were underinsured and the replacement tends to exceed the original cost of th
Replacement Cost Guarantee provides the full cost to repair or replace your dwelling or personal property, even if you were underinsured and the replacement tends to exceed the original cost of the prope
Cost Guarantee provides the full
cost to repair or replace your dwelling or personal property, even if you were underinsured and the replacement tends to exceed the original cost of the prope
cost to repair or replace your dwelling or personal property, even if you were underinsured and the
replacement tends to exceed the original cost of th
replacement tends to exceed the original
cost of the prope
cost of the property.
For many years,
replacement cost was
provided on a
guaranteed basis — meaning that if the
replacement cost exceeded the policy limits, the insurance company would still pay.
For a number of years,
replacement cost was
provided on a
guaranteed basis — meaning that if the
replacement costs exceeded the limits, the company would pay.
In this way, these policies typically emulate
guaranteed replacement cost policies that
provide the
cost for rebuilding the property as long as the policyholder meets the requirements specified within the policy.
Guaranteed replacement cost policies
provide coverage for construction of a damaged property, regardless of the amount.
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.
Full
replacement value (also called
guaranteed replacement) renters insurance property coverage
costs more than actual cash value protection, but the protection it
provides is far superior.