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Message
Water heater broke
Posted on 6/25/17 at 12:17 pm
Posted on 6/25/17 at 12:17 pm
At some point through the night, the water heater began leaking water. The carpet is completely soaked throughout the house. We have filed a claim with insurance. We were already looking at replacing carpet with hardwood.
My question is, can we replace the carpet with hardwood and have the insurance pay for it OR will we have to pay a little extra to replace carpet with hardwood?? Thanks in advance!!
My question is, can we replace the carpet with hardwood and have the insurance pay for it OR will we have to pay a little extra to replace carpet with hardwood?? Thanks in advance!!
8
Posted on 6/25/17 at 12:19 pm to tiger in da desert
You'll pay the difference baw.
Posted on 6/25/17 at 12:20 pm to tiger in da desert
I understand it's leaking but is it still running?
Posted on 6/25/17 at 12:43 pm to tiger in da desert
Unless you are set on hardwood you should consider LVP.
Posted on 6/25/17 at 1:16 pm to tiger in da desert
Is it a water heater or hot water heater?
Posted on 6/25/17 at 1:36 pm to tiger in da desert
quote:Join the club, brah.
Water heater broke
All of my appliances are broke.
I got the money.
Posted on 6/25/17 at 1:42 pm to tiger in da desert
Be sure to close the drain valve since you already made the claim... 
Posted on 6/25/17 at 1:51 pm to tiger in da desert
quote:
My question is, can we replace the carpet with hardwood and have the insurance pay for it OR will we have to pay a little extra to replace carpet with hardwood?? Thanks in advance
Your homeowners insurance will determine the replacement cost (RCV) of your carpeting. They will then apply depreciation and pay the actual cash value ( ACV) of the loss and then apply the deductible. The balance between RCV and ACV is called hold back.
Once you replace the flooring they will issue a supplemental check for the hold back. If you install a more expensive replacement flooring you will have to pay the difference.
Posted on 6/25/17 at 1:55 pm to tiger in da desert
Insurance pays for what you lost, not what you want. So they'll pay for the value of your carpet, plus removal of it, and installation costs of new carpet. Usually you'll have to send the insurance check to the bank that holds your mortgage, which will then issue a partial or whole check back to you after you jump through some hoops. If you spend the proceeds on hardwood, it should be fine, but you'll have to kick in the difference out of your own pocket.
This is how it generally goes if you don't use the insurance company's preferred contractors. Depending on the insurance company, your policy, and your mortgage holder, there could be variations here and there. See if you have a temporary accommodation provision in your policy if you don't want to have to stay in your house while the contractors are working.
This is how it generally goes if you don't use the insurance company's preferred contractors. Depending on the insurance company, your policy, and your mortgage holder, there could be variations here and there. See if you have a temporary accommodation provision in your policy if you don't want to have to stay in your house while the contractors are working.
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