Purchase from Craigslist Is Not Replacement Cost

January 27, 2016

We have a theft claim involving a 2005 ATV. Per the insured the ATV is used to service the insured's residence and coverage has been accepted by the carrier. The risk is located in North Carolina and has an HO 03 04 91 Homeowners policy. The policy also has a replacement cost endorsement, HO 04 04 91, which provides replacement cost to personal property.

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