by cenla » Sat Dec 05, 2009 02:51 am
I have State Farm business insurance with a replacement policy for stolen items. We recently had a theft for which an outside A/C condensor unit was stolen as well as about items from inside. But State Farm wants me to go out and buy the replacement items, then be reimbursed. What do I do if I don't have the money to buy new items up front that need replacement? Can I tell State Farm - "Here's my deductible. Please go out and get them for me?"
And if I have a "replacement policy" why do they take off for depreciation in their settlement papers? Can I do anything about this?
Also, how do you claim for pre-installed software (MS Office and Adobe products) when a PC is stolen?
And if I have a "replacement policy" why do they take off for depreciation in their settlement papers? Can I do anything about this?
Also, how do you claim for pre-installed software (MS Office and Adobe products) when a PC is stolen?
Posted: Sat Dec 05, 2009 03:30 am Post Subject:
According the policy replacement cost is only consider _if_ the items are replaced... otherwise its Actual Cash Value. So SF is not going to pay replacement cost until the items are... replaced.
If the items were pre-installed then the cost of the items itself should address the software that came with it.
Posted: Sat Dec 05, 2009 05:47 pm Post Subject:
Since the insurance company came up with the amount, that means they have a source to get the items, right? I'd like to replace the items but do not have the money up front. can't I just tell them to replace the items?
Posted: Sat Dec 05, 2009 06:06 pm Post Subject:
Some carriers will as they have deals with companies to give discounted rates but the insurance company is not required to do this. It takes extra time/effort (read, expense) to do this.
Posted: Sat Dec 05, 2009 06:23 pm Post Subject:
Thanks for the help!
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