ACV or Rebuild Insurance for Rentals

[Rico Nasol]

So we have a rental property in MO. We're paying cash for it and then going to rehab. All in, we're spending ~$70k with an ARV of $100-110k. The rebuild insurance is $84/month at $170k. The ACV insurance is $56/month for $100k. Both have a $1500 deductible. Which policy should we go with? The house was built in the 50's and the plumbing was upgraded at some point to copper and most of the major items were replaced at some point and time to meet more modern standards. The roof may have 5-10 years left on it.

The $30/month does eat into our monthly cashflow, but want to get the pros and cons of both. I've read that some folks go ACV at 70% of the rebuild cost. Some only do the rebuild policy. My thoughts are, we're in it for $70k. If something happens,we get our investment back and then some and we can always sell the land. That could be totally wrong, so looking for some advice. Thanks!