evaluations for insurance

[James H Frazee]

Three terms are operable here:  replacement value, market value and depreciated value and whether they have scheduled personal property coverage or just contents coverage.  Which term applies in this case depends on your client's insurance type.  I.e., if they have replacement value insurance, no problem - go to the store, pick out a new piano; if they have market value loss coverage, then your 75% to 80% number would kick in; if they have depreciated value loss coverage, they're probably looking at getting ten percent or less.
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