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atioStateFarm <br /> Explanation of Building Replacement Cost Benefits <br /> Homeowner Policy <br /> Coverage A -Dwelling -37 Water Damage and Freezing- WR <br /> To: Name: HYLRN, PATTI <br /> Address: 1299 WILDHURST TRL <br /> City: ORONO <br /> State/Zip: MN, 55364-964'1 <br /> Insured: HYLEN,PATTI Claim Number: 2329W8523 <br /> Date of Loss: 2/28/2014 Cause of Loss: WATER <br /> Your insurance policy provides replacement cost coverage for some or all of the loss or damage to your dwelling or structures. <br /> Replacement cost coverage pays the actual and necessary cost of repair or replacement,without a deduction for depreciation,subject to <br /> your policy's limit of liability.To receive replacement cost benefits you must: <br /> 1, Complete the actual repair or replacement of the damaged part of the property within two years of the date of loss;and <br /> 2. Notify us within 30 days after the work has been completed. <br /> 3. Confirm completion of repair or replacement,by submitting invoices,receipts or other documentation to your agent or claim office. <br /> Until these requirements have been satisfied,our payment(s)to you will be for the actual cash value of the damaged part of the property, <br /> which may include a deduction for depreciation. <br /> Without waiving the above requirements,we will consider paying replacement cost benefits prior to actual repair or replacement if we <br /> determine repair or replacement costs will be incurred because repairs are substantially under way or you present a signed contract <br /> acceptable to us. <br /> The estimate to repair or replace your damaged property is$5,572.05.The enclosed claim payment to you of$3,815.72 is for the actual <br /> cash value of the damaged property at the time of loss,less any deductible that may apply.We determined the actual cash value by <br /> deducting depreciation from the estimated repair or replacement cost.Our estimate details the depreciation applied to your loss.Based on <br /> our estimate,the additional amount available to you for replacement cost benefits(recoverable depreciation)is$1,256.33. <br /> If you cannot have the repairs completed for the repair/replacement cost estimated,please contact your claim representative prior to <br /> beginning repairs. <br /> All policy provisions apply to your claim. <br /> Any person who submits an application or files a claim with intent to defraud or helps commit a fraud against an insurer is guilty <br /> of a crime. <br /> Datc: 3/25/2014 10:29 AM 120563.6 01-25-2010 Page. 3 <br /> E .abed EE9Z-L217-E9L Xed dH Wd6t7:1-0 171,0Z 91- jdV <br />