Replacement Cost Contents
Replacement Cost for Your Home's Contents
Your home is more than just a dwelling; it's a safe haven for you, your family and your cherished possessions. Kemper understands that and offers extra protection for the things that are important to you.
Replacement Cost Contents
When you add this coverage to your Homeowners policy, if there is a covered loss to your home, Kemper can pay to repair or replace your covered, damaged property less your policy's deductible amount.
Homeowners insurance policies have provisions to reimburse you for damaged contents, but they generally pay Actual Cash Value, which can include deductions for use and depreciation. Actual Cash Value may not be enough to replace the things that make a house your home, but Replacement Cost Contents assures that your possessions are well protected because it pays repair or replacement costs on those contents.
That favorite toaster that cost $15 in the '60s and you still use today? Even if it now has a higher value, in the event of a covered loss, Kemper may pay to repair or replace it with Replacement Cost Contents coverage.
And, when you add Replacement Cost Contents to your Homeowners policy, you automatically get higher limits for your personal property. Personal property limits are calculated as a percentage of your home's insured value—typically at 50 percent of the amount you select as necessary to rebuild your home. When you add Replacement Cost Contents to your policy, those limits increase to 70 percent of your home's insured value, which can make a big difference when replacing your possessions after a loss.
For example, if your home's insured value is $250,000, the coverage limit for your home's contents is typically capped at $125,000 (250,000 X .50). When you add Replacement Cost Contents to your policy, however, the coverage limit for your contents is automatically increased to $175,000 (250,000 X .70). Both amounts are subject to your deductible.
Replacement Cost Contents coverage is generally available as an endorsement to your Homeowners policy, and comes at no extra cost with Package Plus policies. In some states, Replacement Cost Contents is included with your Homeowners policy. Ask your Independent Agent about specifics for your state.
What else do I need to know?
Ask your Independent Agent today to see if Kemper's Replacement Cost Contents coverage is right for you. If you don't already have an agent, find one now.
Kemper Personal and Commercial Lines provides products and services for individuals, families and businesses who want protection for their homes, vehicles and other valuables and sells through an exclusive network of independent agencies.All statements are subject to the terms, exclusions and conditions of the applicable policy. In all instances current policy contract language prevails. Products, services and discounts referenced herein are not available in all states or in all underwriting companies. Furthermore, the products and prices of our various Kemper business segments differ. Coverage is subject to individual policyholders meeting the applicable underwriting qualifications and state availability. Other terms, conditions and exclusions may apply.