Actual Cash Value or Rebuilding Value coverage?

[Satya Nagarajan]

Hey everyone, I am buying my first property - a 4 unit building for $127K. The property will be in my personal name, not an entity. I am definitely getting liability coverage up to $1 million and loss of rents for up to 1 year, but I'm not sure how much coverage to get for fire, flood, vandalism, etc. I'm calling around getting quotes, and each insurance company is estimating my rebuilding cost a different amount. If I choose the rebuild option, how do I determine how much coverage to get? The cost to rebuild will definitely be much higher than my purchase price. Or would it just be better to be insured for ~$130K? Any insights would be appreciated.