- Jul 27, 2004
- 8,943
- 8,153
- 136
The short lead up to my question
Now to my question, the adjuster from the insurance company called me and said she needed a letter/email from the contractor that the work had been done, and some pictures of the work so they could send me a check for "recoverable depreciation". Well that was simple enough, got an email from the contractor, took a few pics and emailed them to the adjuster. Within 20 minutes I got a return email that a check for almost $3K was being sent to me.
Bottom line, even with $1K deductible, and about $1,500 in additional work I had done, I came out on the plus side by almost $1K
I have downloaded my policy in PDF format, and doing a word search the words 'recoverable' nor 'depreciation' do not appear. I called that agent I use, and they never really made it clear as to what 'recoverable depreciation' is, and why they pay it.
Worked out a lot better than I was expecting, no hassle or haggling and I'm ahead.
- Have had homeowners insurance for over 50 years, first claim ever this year.
- Tree fell on house, roof, eaves, gutters, awning damaged.
- Ins. co sent company to remove tree and tarp roof the next day
- Inspector came a week later and spent 2 hours inspecting, measuring, taking pics.
- Next day I was notified a check was on the way for entire roof (2900 sq/ft), and repairs to gutter and eaves damaged by tree. Roof was 25+ years old.
- Hired roofing contractor and had additional work done, replace all gutters, repair facia/soffits from water damage not related to tree.
- Contract was for about $1500 more than just damage repair, but it was worth it. A crew of 6 men worked for 4 full days to complete everything.
Now to my question, the adjuster from the insurance company called me and said she needed a letter/email from the contractor that the work had been done, and some pictures of the work so they could send me a check for "recoverable depreciation". Well that was simple enough, got an email from the contractor, took a few pics and emailed them to the adjuster. Within 20 minutes I got a return email that a check for almost $3K was being sent to me.
Bottom line, even with $1K deductible, and about $1,500 in additional work I had done, I came out on the plus side by almost $1K
I have downloaded my policy in PDF format, and doing a word search the words 'recoverable' nor 'depreciation' do not appear. I called that agent I use, and they never really made it clear as to what 'recoverable depreciation' is, and why they pay it.
Worked out a lot better than I was expecting, no hassle or haggling and I'm ahead.
