[问题] About home insurance
- 主题发起人 nanotech
- 开始时间
It is optional and has nothing to do with your house (If my understanding is correct).
The following is from TD insurance
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Beyond Basic Coverage
Replacement value
Jewellery coverage
Fur coverage
Sewer backup coverage
Earthquake coverage
Limitations in coverage
Replacement value
Replacement value coverage means that the contents of your home are insured for the amount it costs to replace them. When you replace the item(s) with a similar kind and quality, within a specified time, the insurer will pay you what it cost you to replace the item(s) not what they were actually worth in their used state. This is the most common option added to property policies and some insurance companies include this coverage automatically.
The following is from TD insurance
---------------------
Beyond Basic Coverage
Replacement value
Jewellery coverage
Fur coverage
Sewer backup coverage
Earthquake coverage
Limitations in coverage
Replacement value
Replacement value coverage means that the contents of your home are insured for the amount it costs to replace them. When you replace the item(s) with a similar kind and quality, within a specified time, the insurer will pay you what it cost you to replace the item(s) not what they were actually worth in their used state. This is the most common option added to property policies and some insurance companies include this coverage automatically.
oread
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This is what I found from The Personal Insurance, which is my broker:
Estimated replacement cost of your house
Means the amount we estimate it would cost to replace or rebuild your house. We base this estimate on information you've given us about your house -- its size, construction, workmanship, features, and the quality of materials it's built with -- and with information from Statistics Canada indexes and industry sources. We don't consider the value of the land your house is built on when we estimate this amount.
Perhaps different company uses different terminology, and it's normally included in the quote.
Estimated replacement cost of your house
Means the amount we estimate it would cost to replace or rebuild your house. We base this estimate on information you've given us about your house -- its size, construction, workmanship, features, and the quality of materials it's built with -- and with information from Statistics Canada indexes and industry sources. We don't consider the value of the land your house is built on when we estimate this amount.
Perhaps different company uses different terminology, and it's normally included in the quote.
