Be aware of the policy if you take a cash settlement instead of repairing or replacing your home. They will pay you Actual Cash Value instead of replacement cost. This clause in the policy prevents policy holders to "take the money and run".
Check your policy for this clause. I'm very sure it's in there.
last time I looked at the policy, I think the insurance quoted me ~180k for a rebuild of a 1600sf home (less than 80K comp) ... go figure , if the house burn down, insurance pay 180K, I can buy two new houses and donate the existing land of the old house to the city :)