Understanding the Insurance Replacement Cost Coverage Endorsement
If you are wondering what the Insurance Replacement Cost Coverage Endorsement is, it is an endorsement that provides Replacement Cost Coverage, describing the stipulations and conditions for application. Virtually all policies contain the following language: “The Company shall not be liable under this endorsement for any loss unless and until the damaged or destroyed property is actually repaired or replaced by the Insured with due diligence and dispatch.”…