We are called weekly to meet with customers and their insurance adjusters to review a claim on their property and develop a plan to return the property to its original condition. Fortunately, most customers have replacement cost coverage but occasionally we run into an ACV (Actual cash value ) policy and MOST of the time the customer does NOT even know they do not know which type coverage they have ! There is a HUGE difference.
Much like everything else we buy, insurance comes with a lot of options. Just like everything else, you can go the economical route and give up a little quality and miss out on some bells and whistles, or you can pony up a few more bucks and get the whole shebang.