What is better replacement cost or actual cost for homeowners insurance?

Answer 1

Check the price difference, it's usually minimal. Remember alot of items lose their value rapidly (think tv's or computers) also most companies will pay the full cost to replace(after deductible of course) so even if your roof is old you get a new one. 99% of the time it is a great value. actually, it depends on what state you live in .(re cost being minimal) In Florida: I just requested a price quote for actual cost & one for replacement cost: it was $1000 more for the policy with replacement value versus the policy with actual cost . I was shocked because in previous years , it was only $100.00 or $150.00 more for replacement value. so make sure you get quotes for both .