Include Replacement Cost Coverage In Your Home Owner’s or Renter’s Insurance Package!

Make sure that you purchase a policy that offers Replacement Cost Coverage!  Many companies’ default policies are ACV- Actual Cash Value.  DO NOT BUY a ACV policy- even if it’s cheaper.  ACV means that the insurance company will pay only for the current value of the item (minus the deductible) regardless what you paid for the item.  Although Replacement Cost Coverage costs slightly more, it is totally worth it because it pays for the cost of actually replacing the item TODAY!

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