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. With Personal Property Coverage, you'll receive the actual cash value of covered personal property that needs to be replaced due to a covered loss.State specific property claims disclosures. Please find your state below to view your state specific claims information. Optional coverages can affect your price like Personal Property Replacement Cost or Water Backup Coverage (not always available). A complete guide to commercial property insurance. Replacement cost for personal property. Amount you pay out of pocket toward repair or replacement costs. Some renters insurance companies also allow policyholders to upgrade their policy to pay out on a replacement cost basis rather than actual cash value.
