Insurance providers offer a variety of different home insurance packages, not all of these home policies offer replacement cost coverage on your property.  A replacement cost home insurance policy will help you bridge the gap to avoid having too little coverage in the future due to inflation in the event of a covered loss.

Also, with an actual cash value policy your insurance claim will be assessed at fair market value.  Some things that are covered by your home policy may have depreciated in value over the years so you may not receive enough from your insurance claim to cover or replace certain items that broke, got damaged or lost. By selecting a homeowners replacement value insurance policy, you’ll be in a safer position by having items, which are lost or destroyed, replaced with a like-kind item without much less worry about about the fair value of the item – as you would be a little more concerned with an actual cash value or ACV policy.

Most Agents will provide quotes for replacement cost home insurance policy.  To find the lowest home insurance policy be sure to comparison shop agents and major insurance companies.

Also be sure to compare quote offers between both stand-alone home insurance policies and auto + home packages.  By comparing all of your options, finding a the cheapest homeowners insurance solutions is within your reach.