Over time our homes depreciate in value, as this happens, the actual cost value of our homes decreases as well. This type of policy only reimburses the depreciated value of your home - not what it costs to replace it and your belongings.

Your home is covered up to the original value under this type of policy, but it may not cover all the current expenses associated with the replacement of your home and belongings.

This is the most comprehensive coverage. As the cost of building supplies and labor increases, so does the cost to replace your home. Guaranteed Replacement Cost coverage reimburses the current cost to rebuild your home and replace your belongings, even if it exceeds the policy amount.