Martin
10-03-2007, 06:10 AM
Renter’s policies allow you to insure your belongings for the actual cash value (ACV) or replacement cost. ACV reimburses you for the value of the property at the time of loss. In other words, if your computer is old, you will only receive the value of the item at the time it was stolen or ruined. Replacement cost coverage reimburses you for the amount it costs you to replace your property. Obviously, replacement cost involves a higher premium. The key is to take an inventory of your items and assign values to everything – you’d be surprised at what you find!