Some of the larger items taken (computer included) were purchased with extended warranties. All warranties were still active at the time of the robbery. Will I be able to claim these as well?How are insurance replacement values determined for stolen property?No - you can not claim your warranty. However, you can get a letter from the adjuster that the computer was stolen on X date and send that to the warranty company. See if they will pro-rate some of the cost of the warranty back to you.
As for replacement of the computer - they price out a computer at today's prices with the same features yours had. You paid 2K for it 3 years ago. By today's standards, that same machine can be purchased for less.
If your policy has a depreciation clause in it - they will take the price to replace your computer at today's prices and subtract 3 years worth of deprecation. In essence, you get what you could have reasonably sold the computer for in today's market as a used machine.
What ever the computer is valued at - your deductible is then subtracted from that.How are insurance replacement values determined for stolen property?~~It is all up to the type of policy you have. We pay for replacement coverage, meaning anything is covered at the current market price (like new).
Some policies prorate or give you yard sale value. The only way to know is read your policy or call your agent and they will tell you what you have.~~How are insurance replacement values determined for stolen property?You get like for like. In the case of something that's possibly obsolete, you get the upgrade included.
In other words, IF you have replacement cost coverage, you get the depreciated value for your computer - almost nothing, and THEN you replace it. After you replace it and turn in the receipt, the adjuster will allow for whatever specs the old one had, or the bottom of the barrel minimum available today, whichever is LESS.
Warranties aren't insured.
