You should insure your property for more than its replacement cost.

Name: You should insure your property for more than its replacement cost.
Brand: Quizplus
Rating: 4.7 (44 reviews)

Question

Quizplus · Accepted Answer

It is not necessary to insure your property for more than its replacement cost as this would result in paying higher premiums for coverage that is not needed. Insuring for the replacement cost or actual cash value (ACV) is sufficient to avoid financial losses in case of damage or loss of the property.

You Should Insure Your Property for More Than Its Replacement