1. When purchasing homeowner’s or renter’s insurance, replacement value: a. Only reimburses you for the amount originally spent to acquire personal property. b. Costs less than insuring for the...

1. When purchasing homeowner’s or renter’s insurance, replacement value:

a. Only reimburses you for the amount originally spent to acquire personal property.

b. Costs less than insuring for the purchase price of items you owe.

c. Reimburses you for the amount required to replace your personal property at today’s values.

d. Should never be considered.