Do I need to replace stolen items in my claim with exact, comparable, or similar items to receive recoverable depreciation value?

If your insurance policy requires you to replace lost or stolen items before it will pay the full replacement cost you need to replace with similar or comparable if not exact. If you replace with similar and the cost is less than the exact item, you will only be reimbursed the difference between what you had already received and the replacement cost. If the replacement item is less than what you have already received, the insurance company will probably just let it go. You can just not provide the cost of the replacement item. If you want to buy a lower cost item, but it exceeds the amount you have already been paid you will get the difference.You should review your insurance policy to see what it says. If you are not certain, call your agent or the insurance adjuster and ask. They should be willing to explain how the policy works.