Replacement Cost: Where exactly is the replacement cost located on a home owner's policy. There is:


A: Dwelling 122,000
B: Other Structures $12,250
C: Personal Property $34,000
D Loss of Use : $12,000

Ask the agent. But if those are the limits written into the policy then it may not cover replacement costs.

Ask the agent. But if those are the limits written into the policy then it may not cover replacement costs.
Thank You

Replacement cost is not on the policy, the limits are. Personal property seems low for contents coverage, normally is 50%. You pay a little more for replacement contents coverage otherwise you have what is known as ACV, average cash value. What may happen is you put a coverage on a building and after a review of the replacement cost, the company will require you have at least 80% coverage, otherwise you will have a coinsurance penalty in case of a loss. Lets say the replacement cost is $100,000 and you only have $50,000. If you have a $20,000 loss, you will only get $10,000. Talk to your agent. Google "replacement cost vs. ACV" for more info.

Replacement cost is not on the policy, the limits are. Personal property seems low for contents coverage, normally is 50%. You pay a little more for replacement contents coverage otherwise you have what is known as ACV, average cash value. What may happen is you put a coverage on a building and after a review of the replacement cost, the company will require you have at least 80% coverage, otherwise you will have a coinsurance penalty in case of a loss. Lets say the replacement cost is $100,000 and you only have $50,000. If you have a $20,000 loss, you will only get $10,000. Talk to your agent. Google "replacement cost vs. ACV" for more info.

Thank you. Paying $3,200 annually now. For a 1,900 sq.ft house

What ISO class are you? That seems very high for that limit, even if a Class 10.

Property Insurance is high in Florida