Many Insurance Needs. One Agency.

What is Replacement Cost?
By Michael R. Sikora on 2/26/2011


When considering insurance providers, your focus should be on the cost to replace your property at current market costs. Many insurance carriers impose a penalty for neglecting to carrying 80% of the home’s replacement cost which they will determine after a loss has occurred. If your limit is not sufficient, you may receive a claim payment to settle your loss that does not cover your actual costs to repair or replace your damaged property.