The difference between the "full replacement cost" and the "cash value" renters insurance is one involves full replacement cost and the other depreciated value.
<h3>What is renters insurance?</h3>
Renter's insurance is the property insurance that covers the (renter's) policyholder's personal belongings, liability, and some living expenses in case of a loss event.
With replacement cost renters insurance, the policyholder has sufficient funds to replace all insured belongings and other losses.
With cash value renters insurance, the policyholder can only recover the depreciated value of their assets.
Thus, the difference between the "full replacement cost" and the "cash value" renters insurance is one involves full replacement cost and the other depreciated value.
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