What does it mean to have items covered under replacement cost on a home owners policy.

		It means that your home can be replaced even if thier is only minor damage to the structure.
		It means that you will be compensated for the cost of replacing the items based on their current cost (brand new) less your deductible.
		It means you will not be charged a deductible
		It means you will receive enough money to buy items of similar quality but not necessarily brand new items. For example if you had a 5 year old television that was stolen you would get aporoximately the same amount of money that you would have received had you tried to selll your 5 year old television.