You can google search the difference between RCV and ACV coverage and get a pretty good explanation on that.Ask how they carrier will settle a total loss vs a partial loss? 

@Daniel Lehman I will second everything @John Mocker is stating, but also add if you are getting quotes through commercial insurance carriers, they will not pull a credit score.

Claims data can concretely answer that question pretty easy, hence the "breed ban" seen by many insurance carriers.      

Richard,$3500 sound about right if you got coverage from well known carriers.

Nyan, I got quoted anywhere between $1,750 - $2,900 for a 2-family home in was looking to purchase 5 weeks ago.I also pursued quotes from every carrier and I believe the quotes started to get more expensive each consecutive time.

I believe telegraphs work best, maybe carrier pidgeons

@Glenn Primack I would assert that without knowing the coverage terms and carrier quality we can't know if the policy is a good deal or not; all we know is that it is a cheap price! 

I've narrowed it down the choice between two carriers and there's a significant price difference between the two, as one offers replacement cost and the other actual cash value.Purchase Price:202,500 Loan Amount: ~$160,000Option 1: $1500/yearCoverage Amount: $205,000 - ACTUAL CASH VALUE Includes: Liability, Earthquake, Loss of useOption 2: $2,800/year Coverage Amount: $500,000 - REPLACEMENT COST Includes: Liability, Earthquake, Loss of useI can't decide which policy is more appropriate to protect my investment.

Florida is a specialized market with mostly regional carriers and only a few national carriers.

Looking for a new carrier.