re: Need help haggling with liberty mutual after a hail storm (Long) - iwyLSUiwy shoutout pg 2

quote:

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The policy coverage is to compensate the owner to restore the the property to the state it was in prior to the incident, no? Shouldn't I have the choice to either accept something being shitty or use the money to get it fixed?

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You could do that, but it would only cost you more money .. and prevent you from filing any potential claim in the future.

How it would cost you more: (Assume 25k Total Claim)

Total claim amount is offset by your deductible. ($5,000)

Initial paid claim amount is also minus depreciation. $20,000 remains after your deductible is accounted for. Now, remove another $5,000 for depreciation. Your initial claim check is $15,000.

Following repairs your contractor will send in paperwork and pictures of the finished product. This will release the depreciation amount ($5,000). So your claim payments are now $20,000.

If you do not have the work done .. you only miss out on your depreciation .. since you would not have paid your deductible money.

If you get half-assed repairs .. or partial repairs .. you may not get the depreciation back .. and now your out of pocket is $5,000 for your deductible + $5,000 you lost to depreciation. ($10,000)

Now comes the good part. If you chose to not do all the repairs so you could pocket money .. when you have another real issue with the same property .. you won't be getting anything to help.

Moral of the story .. pay your deductible, get the repairs done, get your depreciation .. and if there are costs above what was paid out .. your contractor can send additional expense paperwork to your insurance company.

You chose that high arse deductible .. eat it.