Contents valuation · CNT-003
DeWalt drill + impact driver + charger set replacement (Ryobi set purchased)
Claim substantiation
Claimant’s statement
My DeWalt drill, impact driver, and charger set was in the garage and was lost in the fire; the lowest comparable replacement quote documented from Home Depot, Lowe’s, and Amazon was $179.00, or $193.32 including tax at 8%. I chose a Ryobi set for $214.92 including tax and am requesting $193.32 in reimbursement, paying the additional $21.60 myself as a customer buy-up.
Actual replacement cost $214.92 − customer buy-up $21.60 = reimbursable replacement cost $193.32
Supporting documentation
Replacement cost and ACV
- Claim basis
- Replacement cost
- Claimant’s reimbursable replacement cost
- $193.32
- State Farm’s replacement cost
- Not recorded
- Claimant’s claimed ACV
- Not recorded
- State Farm’s claimed ACV
- Not recorded
- Actual replacement cost
- $214.92
Actual replacement cost $214.92 − reimbursable replacement cost $193.32 = customer buy-up $21.60.
Reimbursable replacement cost uses the lower of actual spending and the replacement valuation, or the valuation before purchase. ACV claims use claimant’s claimed ACV unless State Farm’s ACV is explicitly accepted.
A replacement-cost claim can be recorded without a replacement purchase. The claim basis does not record a decision to replace the item.
Repair / replacement
- Actual spending
- $214.92
Documentation: Receipt available