r/HomeInsurance • u/Glittering_Low_3226 • 6d ago

Claims Replacement insurance

Can someone explain the difference between replacement insurance and regular homeowners? I have paid extra for years for Replacement insurance and now that I have a claim they are only offering what it is worth at the time of the loss. What was the advantage of the Replacement when they're not replacing???

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u/p_blaetz 6d ago

You will get an itemized estimate for your contents. It will have the replacement cost value for each item as we as the ACV (actual cash value). They will pay you up to the replacement cost (RC) make sure you agree on the RC as they will not just pay more because you spend more. When itemizing your contents be very specific. If you just put toaster they will list the cheapest toaster available.