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Should I have replacement cost or actual cash value property insurance?

It is important to first understand the difference between Replacement Cost and Actual Cash Value. Watch these videos to learn more:

There are instances where it makes sense to have an Actual Cash Value policy versus a Replacement Cost policy. Many contractors who can do most replacements themselves or who have bought a building for very cheap and not interested in rebuilding upon a total loss may not want a Replacement Cost policy.

You also have to do a Cost / Benefit Analysis for each type of policy.

Watch this video “Should I have replacement cost or actual cash value property insurance?” for more details:

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This is video #58 of a one hundred insurance video series that The Murray Group is producing to provide insurance consumers with quick, valuable answers to their everyday insurance questions.

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Disclaimer: This article is for informational purposely only. There is no legal advice being suggested or proffered and the author assumes no responsibility or liability for the actions taken or not taken by the readers based upon such information.

created by Ryan Hanley