What it does
Removes depreciation from covered personal property losses (and, under the endorsement's terms, certain other property), subject to its conditions and its list of ineligible property.
Who needs it
Most homeowners and renters; many carriers include it in package endorsements.
Quoting and selling notes
- Explain that fine arts, collectibles and items not maintained in good condition are typically excluded from replacement cost.
Editions and availability
Editions in use and where they apply: 03 22 (37 jurisdictions); 05 11 (6 jurisdictions: AL, CT, HI, LA, NC, VI); 10 00 (1 jurisdiction: PR).
Homeowners endorsements are built for a specific program edition. When a carrier moves a state from the 2011 (05 11) program to the 2022 (03 22) program, the endorsement editions move with it, so match the endorsement edition to the policy form edition shown on the declarations.
