I'm not an insurance agent, but I've had it explained to me by a few along
the way and thats never how I interpreted it. And, I know people who have
made claims and thats not how it worked.
Replacement value means you get the depreciated value unless/until you
replace it. If/when you do, you will get the full value of the replacement.
For example, when my friends house was broken into, her insurance company
sent her a check for the depreciated value of the television, stereo, etc.
When she actually went out and bought new ones, she sent in the receipts and
they sent her an additional check to cover the difference.
That's how I've known and understood it to work anyway.
Tom, NI1N
----- Original Message -----
From: "David Aronovitz" <k1lpi@verizon.net>
To: <towertalk@contesting.com>
Sent: Thursday, July 14, 2005 9:01 PM
Subject: Re: [TowerTalk] Insurance on tower
> It was written:
>>If I replace it the insurance will pay, if I don't they will depreciate
>>the
>>value before cash out.
>
> The purpose of "replacement" value clauses is to pay you replacement value
> regardless of whether you replace it or not. Don't believe your agent
> about anything! READ THE POLICY and contact your state Insurance
> regulators for clarification. I think you are entitled to replacement
> value cash if that's what you want. Get a written opinion on this from the
> state regulators before doing anything.
>
> 73 de K1LPI
> Dave, waiting for the next earthquake in CA.
> _______________________________________________
>
> See: http://www.mscomputer.com for "Self Supporting Towers", "Wireless
> Weather Stations", and lot's more. Call Toll Free, 1-800-333-9041 with
> any questions and ask for Sherman, W2FLA.
>
> _______________________________________________
> TowerTalk mailing list
> TowerTalk@contesting.com
> http://lists.contesting.com/mailman/listinfo/towertalk
>
_______________________________________________
See: http://www.mscomputer.com for "Self Supporting Towers", "Wireless Weather
Stations", and lot's more. Call Toll Free, 1-800-333-9041 with any questions
and ask for Sherman, W2FLA.
_______________________________________________
TowerTalk mailing list
TowerTalk@contesting.com
http://lists.contesting.com/mailman/listinfo/towertalk
|