For most personal property,replacement cost will be higher than actual cash value.

Question

Quizplus · Accepted Answer

Replacement cost coverage typically pays to replace lost, stolen, or damaged items with new items of like kind and quality, regardless of their actual cash value. Actual cash value coverage, on the other hand, factors in depreciation and pays only what the item was worth at the time it was lost or damaged, which is typically less than the cost to replace it with a brand new item. Thus, replacement cost coverage will generally result in a higher payout than actual cash value coverage.

For Most Personal Property,replacement Cost Will Be Higher Than Actual