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True or False: The Extended Replacement Cost (or Personal Property Replacement Cost) coverage is being renamed and the type of coverage it offers is changing.



A. True
B. False

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2013 PLSC LEG BB#6
Asked by Colton, Last updated: Feb 19, 2020

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1 Answer

John Smith

John Smith

Answered Sep 09, 2016

False-inquira - news1190the current extended replacement cost (or personal property replacement cost) coverage is simply being renamed; there are no specific changes to the coverage itself. brand new belongings coverage reimburses the customer in the event of a covered loss, for the full cost to repair or replace the covered personal property with new or similar articles to those stolen or destroyed. policy contracts will continue to use the term extended replacement cost; however the policy declaration, quote letters and agency screens will display extended replacement cost (brand new belongings) instead of extended replacement cost (erc) only.
 

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