Replacement Cost For Contents
What is it? Replacement cost is an essential concept to understand. A policy covering your belongings for actual cash value only covers the depreciated value of an item. Lets say you bought a new television five years ago for $600. Could you sell it for the same $600 today? Of course not. If your television was stolen or damaged, that $150 is all you would get from the insurance company with an actual cash value policy.Added By: Ben
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