Replacement Cost and Purchase of New Dwelling

On a Replacement Cost Dwelling Package or Homeowners policy, an insured wants to take an ACV settlement on the dwelling and purchase another dwelling to make claim for the remaining available funds. The dwelling being purchased needs repairs and the cost to purchase it is less than the replacement cost of the original dwelling. May the insured make a claim for thecost of repairs to the new dwelling up to the available loss settlement amount once he has closed on the new house?

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