If a piece of jewelry is scheduled and the insureds Son turns in a claim saying his Mother is in a home & he just discovered the piece of jewelry is missing a year later. Can the piece be depreciated 50% until it is replaced then the remaining monies can be issued?

Pennsylvania Subscriber


The loss settlement provisions should be in the schedule. We're looking at the ISO HO 04 61 03 22 Scheduled Personal Property Coverage. That form lists loss settlement as follows: 

c. OTHER PROPERTY (1) THE VALUE OF THE PROPERTY INSURED IS NOT AGREED UPON BUT WILL BE ASCERTAINED AT THE TIME OF LOSS OR DAMAGE. WE WILL NOT PAY MORE THAN THE LEAST OF THE FOLLOWING AMOUNTS: 

This premium content is locked for FC&S Coverage Interpretation Subscribers

Enjoy unlimited access to the trusted solution for successful interpretation and analyses of complex insurance policies.

  • Quality content from industry experts with over 60 years insurance experience, combined
  • Customizable alerts of changes in relevant policies and trends
  • Search and navigate Q&As to find answers to your specific questions
  • Filter by article, discussion, analysis and more to find the exact information you’re looking for
  • Continually updated to bring you the latest reports, trending topics, and coverage analysis