Word of Warning Re: Replacement Insurance: If you think you have replacement insurance, even if it is a top of the line policy, you may get virtually nothing if there is an exclusion clause. Don't get scammed.

We thought we were covered & paid a hefty price for it. When we had a loss involving expensive drapes, all of a sudden the company invokes this exclusion clause & claims they must have been uncleanable the day before the incident. This, despite the fact that the adjuster, estimator, etc had seen them hanging in our home after the incident for a few months & said nothing. Only when the manufacturer issued the replacement cost as they were custom made, did they become worthless under this obscure exclusion clause.

We have searched our policy, as well as scoured the particular company's website, but no where does it state the exclusion.

So then, that begs to ask, when is replacement insurance actually good for the replacement value. We paid a 25% premium for over 15 years thinking we were covered, & when we needed the coverage we got pennies on the dollar. In Canada, you get nothing for your money. What a scam! No wonder insurance companies make more money than the banks.