anyone have experience with "replacement cost" insurance, and Allstate?


Well, thanks to a lightning strike I am without my Mark Levinson 326s. It is at the shop now getting looked at but I am not holding out a lot of hope. The 326s is not longer made, and I am worried about what Allstate will consider as a replacement.thanks for any advice you might have on this.
no_money
You've received a lot of good advice so far from insurance industry professionals. I had a lightning claim myself many years ago that damaged (repairable) a few of my audio components, plus a laptop, printer, microwave oven, alarm system, etc. So, here's some additional advice:

1) Think of an insurance company like the IRS, meaning the quality and.or quantity of your claim documentation is essential to a having smooth and satisfactory outcome to your claim. Whether this involves the repair costs or a replacement quote(s) for a current model that meets the "like, kind and quality standard," if the item can't be repaired.

2) The above (# 1) is why it is so important to keep your purchase receipts, owners manuals and original boxes to document what you had.

3) Depreciation will not be applied to a repaIr; but, it will be applied to replacement of an item. Some insurance carriers have discretion to not withold the depreciation if the amount is low enough, because it is not worth their while to re-open a file just to issue a check for $100 - 200. But, if the replacement cost of the item is considered "high dollar," then they'll likely withold the depreciation until you've provided proof that you actually replaced the item at or near the current replacement cost amount that you provided them and had previously documented.


 Based on experiences of friends and family I would not trust Allstate for any insurance matter my personal opinion. 

Dweller2 is part correct.

Most carriers will pay "Actual Cash Value" up front. If one is forced to obtain a replacement and invoke the "Replacement Cost" provisions of the policy [regardless of whether the purchased item is new or used], then the damaged owner will need to purchase whatever they need and submit the receipts to collect back the difference between ACV and RC.

I looked into getting coverage for my system a few years ago. State Farm, Geico, Chubb and Farmers. They all said that my system had to be on a rider that needed to be substantiated by their appraiser who was brought on by the adjuster. Long story short -  They were all were clueless on how to evaluate a audiophile system. The cost of the rider proved to be prohibitive.
My Levinson dealer is local. They took at look at the units and determined they were beyond repair. Allstate sent a guy by to look at them and take pictures. I am now waiting to hear back from them.