Hartford, CT asked in Uncategorized for Connecticut

Q: Question about loss of personal property (RV)

Hi, What happens when there is loss to an item of personal property which cannot be replaced for the fair market value of the loss because it is not part of an exchange value item, but rather a unique item. For example, I had a 10 year old 16 foot RV and it was totaled. The fair market value is $5,000 but you cannot get that same RV anymore anywhere in the US. I was then forced to purchase a newer more expensive RV that had all the same features. Can I get the money to pay for the more expensive RV? I live in CT.

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1 Lawyer Answer
Sally A. Roberts
Sally A. Roberts
  • Hartford, CT
  • Licensed in Connecticut

A: No, the most the insurance company would cover is the fair market value of the totaled RV.

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