Buildings or structures other than the Insured’s residential dwelling. (i.e., garage, shed, etc.)
Buildings or structures other than the Insured’s residential dwelling. (i.e., garage, shed, etc.)
The current cost of replacing an article with a similar one in the same condition. Any item has three basic values: original cost, actual cash value, and replacement value. For example, if you originally paid $400 for your living room couch, its actual cash value might be $175, but if it’s destroyed in a fire, replacing it will cost you $800.