We recommend you purchase home insurance coverage equal to your home's estimated replacement cost. First get an estimate of the replacement cost of your home.We'll pay the replacement cost for items at the time of loss, then up to the full amount of the cost in today's market in the event of a covered loss. A replacement cost policy helps pay to repair or replace damaged property without deducting for depreciation, says the III. You have the option to choose to insure your home and belongings for either replacement cost or actual cash value. It may be equal to 50 percent or as much as 75 percent of the Coverage A amount. Personal property insurance pays to replace your belongings if they're stolen or destroyed. Here's what it covers and how to get it. Replacement cost for personal property means the current cost of a similar new item having the nearest equivalent utility as the subject property. Taxpayer return value: Georgia Law (O.
