How do you find the replacement cost value for an item made for only a few years in the 1940s by an obscure manufacturer and with little-to-no sales history? Our claims adjuster faced such a challenge when the insured reported the theft of a Ranger Scooter manufactured by the Mead Cycle Company in Chicago, IL. The insured claimed a value of $3,000 to $4,000 for the stolen scooter, but initial research turned up no like kind and quality comparable data for determining the replacement value, requiring the expertise of contents claims specialists.
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