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Started By
Message
re: Roof replacement using insurance question
Posted on 6/19/23 at 1:28 pm to Riverside
Posted on 6/19/23 at 1:28 pm to Riverside
quote:
Don’t tell the roofer what your insurance company paid you. Offer to pay in cash for an amount less than what your insurer actually pays you
Worst advice ever. This is the best way to get the crappiest roof ever. Especially since you're only getting ACV upfront. As far as you know they could have depreciated his roof 50%.
1
Posted on 6/19/23 at 2:57 pm to iwyLSUiwy
quote:The adjuster's estimate should show both the RCV and ACV. Everything should be itemized so you see exactly how much depreciation is being held back on the adjuster's estimate. And recoverable and non-recoverable depreciation should reflect separately on the adjuster's report.
Especially since you're only getting ACV upfront. As far as you know they could have depreciated his roof 50%.
Some policies only cover roofs at ACV, especially if it a policy that was written fairly recently and the roof was already a little older. If that's the case, they won't recoup depreciation on the backend.
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