what is full replacement value?

Guest

I just bought a house in Ontario and the cost is $271,000 ($167,000 for land and $104,000 for house). I just want to know, what will be the Full replacement value of my home for the property insurance purpose?

Thanks in Advance

sarah · Joined: 19 Mar 2006 Posts: 25 5.06 Dollars($)

Hi Dfred

Full Replacement Cost is the amount cost to purchase a replacement for a damaged item regardless of the damaged item’s age.

Right now, the full replacement value of the home is little more than $104,000.

Thanks
SJ


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