ACV Settlement and Deductible Applicability

February 1, 2010

The insured has a claim on a CP 00 10 04 02 policy. The insured had an ATM machine in her establishment that was not owned by her. The establishment was broken into, and the ATM was stolen. The client said that this is a business personal property claim under the policy and that we need to take a deductible. We feel that that, since the insured does not own the ATM, the settlement should be at ACV with the ATM owner and no deductible applied. Who is right?

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