If an insured has a personal property replacement cost endorsement and items are stolen, what will they receive on the claim?

Under a personal property replacement cost endorsement, when items are stolen, the insured is entitled to receive the full replacement cost of those items without depreciation being factored into the calculation. This means that instead of receiving the actual cash value—which accounts for depreciation—policyholders with this endorsement are compensated based on the current cost to replace the stolen items with similar new items.

In scenarios where items are stolen and the insured has this endorsement, they would not receive nothing. Instead, they would typically file a claim for the replacement cost, ensuring that they can replace their stolen items at current market prices. This type of coverage is designed to help policyholders maintain their standard of living by providing sufficient funds to purchase new replacements rather than merely compensating them for what the items were worth at the time of loss.