Replacement cost coverage is provided in both the broad and special form dwelling policies when

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Replacement cost coverage is provided in both the broad and special form dwelling policies when

1. The amount of insurance on the dwelling is at least 90% of its replacement cost when the policy is written.

2. The dwelling is insured for 100% of its replacement cost at the time of a loss.

3. The amount of insurance on the dwelling is at least 80% of its replacement cost at the time of loss.

4. The amount of insurance on both the dwelling and personal property is at least 80% of its replacement cost when the policy is written.

Answer: 3. The amount of insurance on the dwelling is at least 80% of its replacement cost at the time of loss.

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