What is the difference between market value and replacement cost?

Jessica Forman - State Farm Insurance Agent | Jul 17, 2022 | Category: Insurance agency in Delaware, Ohio

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Address: 377 E William St, Delaware, OH 43015, USA

Malissa Crawford | Jul 17, 2022

Market value is what your stuff is worth to like a dealer or wholesale and replacement value is what they give you when something happens.

Jessica Forman - State Farm Insurance Agent | Jul 17, 2022

Market value is the amount a buyer would pay for the home and land in its current condition. It is influenced by factors such as proximity to good schools, local crime statistics, and the availability of similar homes. Replacement cost is the cost to rebuild the entire home.

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