The value of most of your belongings decreases over time. With Allstate renters insurance, you are able to choose one of the personal property coverages below.

Actual cash value typically means your belongings are covered for their replacement cost minus depreciation. Depreciation is the decrease in an item's value due to its age, condition or other factors. If you have actual cash value coverage, the reimbursement you receive after a covered claim may not be enough to replace your damaged items with brand new ones.

Reimbursement provision typically means your belongings are covered for the amount it would take to replace them at the time of the claim. Premiums are usually higher for this coverage.

Here's how the reimbursement provision works:

First, we pay you for the actual cash value of the item.
When you replace the item, we issue a separate check for the remaining amount needed to make the purchase.