As its name would suggest, replacement cost coverage insurance helps you replace covered items. Although these policies are usually more expensive, this type of policy may reimburse you enough to purchase a similar one at today's price as, unlike actual cash value coverage plans, replacement cost coverage policies do not factor in depreciation when you make a claim. This means your insurance provider will typically help cover the cost of buying a new item, or one of a similar make and model, at today's price, which is very beneficial if you enjoyed working on the type of model you had before the peril occurred. However, if you have more than one laptop or another expensive electronic, then the cost of your insurance premiums may become too much. In that case, you can purchase a 'rider' to cover your computer specifically.