Actual Cash Value Replacement Cost Guaranteed (or extended) Replacement Cost/Value
Actual Cash Value Replacement Cost Guaranteed (or extended) Replacement Cost/Value
Conversely, choose a higher deductible, which is the amount you pay for any damages before insurance kicks in the rest. As a result, your monthly premium will be slightly lower.
Once it is deemed everything is on the up and up, a homeowner will pay the deductible. The insurance company will cover the rest.
You can obtain policies through the bank or lending institution itself, or homeowners may choose to get the policy independently.