Guaranteed Replacement Cost and Repair or Replacement

February 4, 2014

The policyholder has the guaranteed replacement cost endorsement (GRC) on her policy. The loss amounts cannot be agreed upon and as a result, the policyholder invokes the appraisal clause. As fate would have it, the policyholder's appraiser and the carrier's appraiser both agree on the ACV amounts and the RC amounts.

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