Well, in my current project, i am having to replace some pretty big ticket items.  

Roof, AC, furnace replaced in last few years.

We've structured construction loans on deals in Charlottesville where the investor replaces a mobile with a modular in desirable locations near a winery.

I would also suggest requesting coverage on a Replacement Cost basis and include Rental Income coverage based on the amount of rent you are bringing in. 

It needed a lot of work to the "guts" of the house (crawl, electrical, plumbing, etc), but we were able to leave a lot of the cosmetics alone which the bank had actually replaced not too long before we bought it.

There are tons of engineers, accountants and other professions that invest in real estate. 

Are they replaceable?

I live in San Francisco, CA and work as an engineer in the tech industry.

Some areas are still waiting for roofs to be replaced a year after the storm!!

Once you know, you can estimate better what it would cost to replace those items.