Replacement cost is often
a special endorsement on a policy, as actual cash value more often than not is the default offering on a standard renters insurance plan.
Not exact matches
It will also touch
on some
special deductibles within
policies for
endorsements, floaters and specific perils such as hurricanes.
What that limit is depends
on your
policy, but for very valuable, high - priced items (like a very expensive engagement ring), you will need to purchase a
special endorsement for their official appraised value in order to ensure that you a fully reimbursed.
Complete coverage advice is provided
on a broad range of liability
policy wordings and
endorsements, including comprehensive general liability
policy wordings and
special policy wordings intended to provide coverage for all forms of general casualty and
special risk lines of business.
Events occurring under these types can only be covered under your renters property insurance if you have
special coverage for them either as an
endorsement on your coverage or in a separate
policy altogether.
Common types of
endorsements add coverage for
special events, name additional parties to the
policy or restrict coverage based
on specific criteria.
Reducing your home insurance dwelling value does not impact the liability coverage
on your home
policy, riders or
special endorsements, or the
special limits within the
policy.
For a covered
policy holder to have coverage
on a part like that, they usually have to add a
special endorsement at significant additional cost.