Most policies include replacement cost, I’ve never seen a policy that requires an endorsement for replacement cost of contents. It’s not stupid if you just want the insurance company to cut you a check for whatever amount you say your shite is worth. I don’t know why you’d encourage someone to save a few hundred a year max to have to worry about that shite after a total loss.

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Posted by LSU82BILL

Fort Lauderdale, FL

Member since Sep 2006

10957 posts

Posted on 7/5/24 at 10:45 am to DCtiger1

quote:
Most policies include replacement cost, I’ve never seen a policy that requires an endorsement for replacement cost of contents. It’s not stupid if you just want the insurance company to cut you a check for whatever amount you say your shite is worth. I don’t know why you’d encourage someone to save a few hundred a year max to have to worry about that shite after a total loss.

Exactly - most policies owe for replacement cost on personal property. The RCV endorsement basically pays the policyholder full RCV without having to actually replace the items. In Florida, we have the highest average premiums in the nation ($11,759 in 2024). RCV coverage can cost 25-30% of that premium. that's not "a few hundred a year". And I'd agree that paying for that endorsement makes sense if you suffer a total loss. However, unless you live in a mobile home or your property meets the NFIP definition of a "flood", total losses are extremely rare. And the homeowner's policy doesn't cover flood damage to the contents or the dwelling.

This post was edited on 7/5/24 at 10:51 am

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