Should I have replacement cost or actual cash value insurance on
my property?

There are two ways insurance claims will be valued in the event of
partial loss.  Replacement cost coverage insurance policy has a higher
premium than actual cash value cost coverage.

a-        Replacement cost coverage gives insured more protection than
actual cash value coverage.  Replacement cost coverage will pay for
what it will actually take to replace the property loss. Replaces the
property without consideration of depreciation and loss in value due to
factors such as wear and tear, and aging.  

b-        Actual cash value coverage will pay for the property for what it
was worth at the time of loss.  Actual cash value is computed by taking
out the depreciation from replacement cost.
Replacement cost or actual cash value
Affordable Low Cost Insurance, Inc.
16225 Park Ten Pl, Suite 500
Houston, Tx 77084
(281) 558-2524