Replacement cost and actual cash value
Replacement cost coverage concerns current repair or replacement cost. Actual cash value deducts depreciation. Recovering withheld depreciation can depend on completing repairs and meeting policy conditions and deadlines. Check roof-specific endorsements rather than assuming all parts of the policy settle the same way.
Source: TDI: replacement cost, actual cash value, and deductibles ↗
Check the basis of a percentage deductible
Ask which insured value the percentage applies to and request the resulting dollar amount. Do not calculate it as a percentage of the contractor’s bid without checking the policy.
Reconcile an offer
- Compare each repair item and quantity with the inspection findings.
- Identify depreciation and whether it is recoverable.
- Identify the deductible, limits, exclusions, and previous payments.
- Ask what documentation is needed for any additional payment.
No online average predicts your settlement. Keep your calculation alongside the insurer’s written explanation.
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