@elrod Sorry, wrong. Most policies have a full replacement cost endorsement for personal property. Most agents will add it routinely. Just ask to make sure you have it.
As far as payment, most company’s will pay the actual cash value (used price) first. Once the item is actually replaced with a new replacement, the difference will be paid. This is the general procedure, but can vary from state to state. Bottom line, if you have the replacement cost endorsement, you get paid full replacement cost as long as you actually replace the item. If the item is no longer available, you can replace it with something of equal functionality.