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Started By
Message
re: Homeowners insurance - claim?
Posted on 1/24/17 at 9:02 am to MorgusTheMagnificent
Posted on 1/24/17 at 9:02 am to MorgusTheMagnificent
quote:
Roof is old and already needed to be replaced soon.
Just FYI thats not how homeowners works. The roof being old actually can work against you.
They will definitely depreciate the price based on how old the roof is. So if its an old roof that needs to be replaced, with actual identifiable hail damage, you will only get a small portion of the actual cost of replacing the roof.
2
Posted on 1/24/17 at 9:05 am to More beer please
quote:
They will definitely depreciate the price based on how old the roof is. So if its an old roof that needs to be replaced, with actual identifiable hail damage, you will only get a small portion of the actual cost of replacing the roof.
it really depends on the insurance company/adjuster/time of day/how busy they are/etc...
I have seen a 45+ yo roof fully covered.
Posted on 1/24/17 at 9:53 am to More beer please
quote:
They will definitely depreciate the price based on how old the roof is. So if its an old roof that needs to be replaced, with actual identifiable hail damage, you will only get a small portion of the actual cost of replacing the roof.
It depends on the type of policy. Depreciation would be withheld regardless but a replacement cost (RC) policy would pay the depreciation after the work is completed an Actual Cost Policy (ACV) would not owe the depreciation.
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