Should You Get Replacement Cost Coverage For Home Insurance?

Replacement cost coverage is the gold standard for home insurance. You deserve it. Talk with your agent at State Insurance Solutions, serving Dallas, TX and the surrounding area, to learn more about replacement cost coverage for your home and its contents. If you do have it, and you have not reviewed the coverage for some time, or if your home was improved, then ask for an insurance review. An insurance review makes sure that the current policy provides adequate coverage.

What is the replacement cost?

For a home, the replacement cost is the construction cost that would rebuild the home to a similar condition as a brand-new one of the same type. If your home is 40 years old and falling apart, replacement cost is not the value for selling the home, but the cost of rebuilding a brand-new one.

For personal property, the same thing applies. You can get replacement cost coverage for valuable things in the home. You make a detailed inventory of what you have in the home and on the property. If anything covered is damaged, lost, or stolen, for a reason that is insured against, you will have protection. If there is a legitimate claim and something needs to be replaced, you will get a brand-new one of the same type.

Benefits of Replacement Cost Coverage

The main benefit is peace of mind. If you work with your agent to have the protection in place, then, if anything bad happens you will be upset about it but not panic. You will never face the possibility of having lost everything. You will be in the category of people who manage finances well to protect their families. This follows the recommendations of the top tier of financial planners.

Find out about replacement coverage. To get an insurance review and a quote, contact your agent at State Insurance Solutions in Dallas, TX.