Not True Replacement ValueDec 07 2013
We have maintained renters insurance with Citizens Hanover since 2004 but never needed to file a claim. We recently had a water leak problem in the wall that we couldn't see until my wife started having respiratory problems. The water soaked through the carpet and padding and wicked into the bottom of our Pier unit and headboard of our wall unit bedroom set, also forming mold all over the bottom, where it could not be seen. The water destroyed the bottom of the one pier and partially damaged the Headboard with mold. Our mattress was also affected by the mold spores. Our bedroom Set consisted of the entire wall unit plus a long dresser, a tall dresser and two small lamp stand dressers. We paid about $4,00 for the set when we bought it, but Our set is no longer available; a comparable replacement set is now about $9,300, so the Insurance company offered to pay for replacement or repair of the one pier or a depreciated cost for the entire set. We argued that we did not want the mold infested furniture to remain in our home, and giving us replacement cost for the one piece would not help us because it is part of an entire set, and we cannot replace the set with the depreciated cost that they offered. We have a replacement value policy; however, they keep pointing out erroneous portions of the policy in an attempt to keep from paying the replacement value of our entire set. We are still duking it out with them but they are playing hardball, saying that they are done negotiating.