Have AAA home insurance . National vendors are coming up with the replacements for all the items. Have lost almost all that i had in my home but the insurance plan says either a replacement of the item or the depreciated price. What should i take ? Please share your experiences.
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Take the replacement item, it will be more than the depreciated value. Next time you renew your home owners ask about full replacement cost. Changing your coverage to that will cost maybe $50 more a year, but you won’t have to deal with any of that depreciated value.
You may be reading the settlement wrong. They normally give you a check for the depreciated amount. When you buy your stuff, send them the receipts and they’ll send you the check for the difference.