What is the Replacement Cost Estimate (RCE)?

Replacement Cost Estimate is calculated using the address input on the Interview tab in the Portal and additional information input on the Property Review tab in the Portal. It can be found on the Coverage tab in the Portal, and a detailed PDF version can be generated with a button located near the bottom of the Payment & Bind tab. 

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In the event of a total loss, the RCE is Openly's estimate of the cost to reconstruct the main dwelling from the ground up. This estimate cannot be amended to reflect a different amount than what is currently showing in the Portal and is subject to state-specific guidelines, except in Connecticut when the policyholder opts to insure the dwelling at 50% RCE. In those instances, the $5 million Guaranteed Replacement Cost (GRC) is removed and replaced with a defined amount of coverage. Read further about Guaranteed Replacement Cost and Connecticut's state-specific aspects in our What Should I Know About Transverse? articles.

The RCE serves mainly as a pricing input and a baseline to help you consider appropriate limits for other coverages. RCE affects the default values and allowable ranges for other coverages with limits. 

Since the reconstruction of the main dwelling is guaranteed up to $5 million, the RCE is not a Coverage A limit

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