Robert purchased an unendorsed Homeowners 3 policy.He is concerned that if his personal property is destroyed,the insurer will take depreciation into consideration when determining the loss settlement and will pay him less than the amount needed to purchase new property.Which endorsement can Robert add to his Homeowners 3 policy to address this concern?

Question

Quizplus · Accepted Answer

The personal property replacement cost endorsement will provide coverage for the full cost to replace personal property without any deduction for depreciation. This ensures that Robert will receive enough money to replace his personal property with new items if they are destroyed.

Robert Purchased an Unendorsed Homeowners 3 Policy