Replacement Cost vs. Market Value

August 05, 2020

When insuring your home there will be many different terms thrown around, especially regarding the cost of your home. Do you know the difference between replacement cost and market value?

Replacement Cost

Covers repairing or replacing your entire home

Market Value

How much someone would pay to buy your home and accompanying land in its current condition

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*Actual coverage is subject to the policy as written.