Why Is There Depreciation Shown on the Estimate When I Have Replacement Cost Coverage (Personal Property Reimbursement Provision)?
If you purchased the Personal Property Reimbursement provision, the policy will pay to replace your covered personal property if it’s damaged, destroyed or stolen, with new items of like quality. Although your damage estimate shows a depreciation amount, Allstate will make an additional payment to reimburse you (in excess of the actual cash value and up to the replacement cost noted on your estimate) for the cost you incur for repairing, rebuilding or replacing your covered property. This is, of course, subject to the policy limits, coverage, conditions and exclusion provisions of your policy.
