CO 04 90 07 05
THIS
ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
PERSONAL
PROPERTY REPLACEMENT COST
SECTION I
For an additional premium, covered losses
to the following property are settled at replacement cost at the time
of loss:
a. Coverage C - Personal Property;
b. If covered in this policy, awnings, carpeting, household appliances,
outdoor antennas and outdoor equipment, whether or not attached
to buildings.
Personal Property Replacement Cost coverage will also
apply to the following articles or classes of property if they are
separately described and specifically insured in this policy:
a. Jewelry;
b. Furs and garments trimmed with fur or consisting principally
of fur;
c. Cameras, projection machines, films and related articles of equipment;
d. Musical equipment and related articles of equipment.
e. Silverware, silver-plated ware, goldware, gold-plated ware and
pewterware, but excluding pens, pencils, flasks, smoking implements
or jewelry; and
f. Golfer's equipment meaning golf clubs,
golf clothing and golf equipment.
Personal Property Replacement Cost coverage will not
apply to other classes of property separately described and specifically
insured.
1. PROPERTY NOT ELIGIBLE
Property listed below is not eligible for
replacement cost settlement. Any loss will be settled at actual cash
value at the time of loss but not more than the amount required to
repair or replace.
a. Antiques, fine art, paintings and similar articles
of rarity or antiquity which cannot be replaced.
b. Memorabilia, souvenirs, collectors items and
similar articles whose age or history contribute to their value.
c. Articles not maintained in good or workable condition.
d. Articles that are outdated or obsolete
and are stored or not being used.
2. REPLACEMENT COST
The following loss settlement procedure
applies to all property insured under this endorsement.
a. We will pay no more than the least of the following
amounts:
(1) Replacement cost at the time of loss without
deduction for depreciation;
(2) The full cost of repair at the time of loss;
(3) The limit of liability that applies to Coverage C, if applicable.
(4) Any applicable special limits of liability stated in this
policy; or
(5) For loss to any item separately described and specifically
insured in this policy, the limit of liability that applies to
the item.
b. When the replacement cost for the entire loss
under this endorsement is more than $500, we will pay no more than
the actual cash value for the loss or damage until the actual repair
or replacement is complete.
c. You may make a claim for loss on an actual cash value basis and
then make claim within 180 days after the loss for any additional
liability in accordance with this endorsement.
All other provisions of this policy apply.
AUTO CLUB FAMILY INSURANCE COMPANY
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Secretary
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President
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CO
04 90 07 05 |
Includes copyrighted material
of Insurance
Services Office, Inc., with its permission.
Copyright, Insurance Services Office, Inc., 1990
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