by GISVC » Fri Jun 03, 2011 01:01 am
my roof was adjusted and i recieved funds from my insurance minus my deductible of 500.00 acv was 4450.00 depricated value which is a recoverable is 1113.00 for a tcv of 5563.00 i got several estimates to repair my roof the cheapest being 5574.00. can i send in my estimate to my insurance company to recieve the depreciated value in order to pay the contractor in full.
Posted: Fri Jun 03, 2011 08:07 am Post Subject:
can i send in my estimate to my insurance company to recieve the depreciated value in order to pay the contractor in full.
Normally you need to submit a signed contract or completion receipt showing the final payment. You don't want to submit an estimate. The job could cost more if any hidden damage is discovered, in which case the insurance company will need to reinspect prior to the additional work being done.
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