Question
What is the name of your state? Illinois
I just received information from my insurance adjuster on my claim for my house being robbed. I scheduled a fur coat on the policy and the adjuster said the replacement value was 2600 but then depreciated the coat by 500.00. The coat was insured for 4,600.00 Can he do that when the policy says replacement value? Other items he depreciated and said when I replace them he will give me the depreciated value back. Whats this all about? Please help. Thanks
Answer
"Can he do that when the policy says replacement value? Other items he depreciated and said when I replace them he will give me the depreciated value back. Whats this all about?"
*** There is really no way that anyone can answer your question without reviewing the policy and coverage.
What did YOUR insurance agent say when you asked him for an explantion???