[Mookster]

I am sorry the dry cleaner lost your suit coat and I hope you resolve the issue in an amicable fashion.

It would be safe to say the corner dry cleaner most likely does not a have a replacement cost policy for their customer's items. It will also be safe to say the dry cleaner does not want to involve his insurance carrier for a single item if settlement can be reached within reason.

A few key terms come into play concluding your lost suit coat claim.

Replacement cost-the cost to replace with new (similar to the one that is missing)
Depreciation-physical deterioration and obsolescence (items wear out and let's face it most clothing styles change quickly)

Your claim is for a lost suit coat, 3 tears old.
1. They owe you for your lost suit coat, not suit-you keep the pants: using the replacement cost less depreciation calculation.
2. My suggestion to is attempt to determine the replacement cost of a suit coat and anticipate 50ish% depreciation to conclude this matter (you may argue the suit coat was hardly worn, but it is safe to say the style has changed in 3 years). To make my point that most people understand: my 8 -track player is brand new and cost me $1000 new, after the fire destroyed it is worth $100 (physical depreciation and obsolescence is applied).
3. If cash is what you want, reach and agreement and move forward. When this happened to me, I reached an agreement for a better figure and took a gift card for services for a bit more. I saved face with the local retailer and I was able get more in services then the cash resolution.

I wish you good luck.