by marivillegas10 » Mon Dec 21, 2009 08:36 pm
I put a claim to my insurance company to fix the roof. I got the first check. The depreciation is close to 1000. The insurance agent said that they will not get the depreciation back, even if I send the invoice of the repair. He says that my policy doesn't cover depreciation. Could that be right? I was under the impression that you can always get the depreciation back. Does it really depend on the policy? Or it's him trying to not give the money? THANKS!
Posted: Mon Dec 21, 2009 11:48 pm Post Subject:
Only if you have replacement cost coverage, the insurance company will pay what it costs to repair or replace your damaged property at today's prices without deducting for depreciation.
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