That's not true. Actual cash value policies still have hurricane deductibles.

And even if you have replacement cost coverage, they still often hold back recoverable depreciation that you recoup later as you complete repairs and turn in receipts.

ETA: To OP, did you have a really big hurricane deductible or did the adjuster's estimate just lowball or miss a bunch of stuff? If the latter, then you can dispute it with your insurer. Get estimates from contractors and send them to your adjuster to request approval on.

This post was edited on 10/18/21 at 9:14 am

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Posted by MallardDeer

Member since Sep 2021

34 posts

Posted on 10/18/21 at 9:25 am to Tiger Prawn

quote:
And even if you have replacement cost coverage, they still often hold back recoverable depreciation that you recoup later as you complete repairs and turn in receipts.

Usually, and for most of my customers, they are not holding back deprecation at this time. This is only during significant weather events where there is lots of damaged property.

Have had multiple insureds get paid RC value without any holdbacks for deprecation. But then again, I do not represent sheisty and shitty State farm or other direct writers.

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Posted by OhIMember

NOLA

Member since Dec 2016

31 posts

Posted on 10/18/21 at 9:48 am to Tiger Prawn

quote:
ETA: To OP, did you have a really big hurricane deductible or did the adjuster's estimate just lowball or miss a bunch of stuff? If the latter, then you can dispute it with your insurer. Get estimates from contractors and send them to your adjuster to request approval on.

In my opinion lots of low balling and "that was there before" type scenarios. Already looking at having someone private come out and see the disparities.

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Posted by Chad504boy

4 posts

Member since Feb 2005

167010 posts

Posted on 10/18/21 at 9:51 am to Tiger Prawn