by kathleen_oconnor » Fri Mar 18, 2011 09:50 pm
I have a replacement cost not ACV policy. I am inundated with numbers here from several claims. the insurance did not quite cover several freeze repairs but held back monies until I sent receipts. Then they sent reimbursement for the repairs but called it "depreciation."
however, there is additional "recoverable depreciation" in their calculations that I understand (from several other websites) that i am entitled to - they valued my property and repairs at X but are only paying Y which is the actual cost of repairs and replacement. The insurance company denies that i am entitled to all the recoverable depreciation.
Is this semantics? why would they call it "recoverable depreciaton" when they merely mean "reimbursement" or more correctly, the carrot on a stick that gets you to do the repairs?
I just want what I am entitled to. I dont' want to profit and I also dont' want the insurance company to confuse me and then pocket a little cash that I'm entitled to because of the way they valued my property.
however, there is additional "recoverable depreciation" in their calculations that I understand (from several other websites) that i am entitled to - they valued my property and repairs at X but are only paying Y which is the actual cost of repairs and replacement. The insurance company denies that i am entitled to all the recoverable depreciation.
Is this semantics? why would they call it "recoverable depreciaton" when they merely mean "reimbursement" or more correctly, the carrot on a stick that gets you to do the repairs?
I just want what I am entitled to. I dont' want to profit and I also dont' want the insurance company to confuse me and then pocket a little cash that I'm entitled to because of the way they valued my property.
Add your comment