2006-10-22 05:00:29 · 5 answers · asked by M W 1 in Business & Finance ➔ Insurance
They'll either pay the depreciated value or the full replacement cost, depending upon the terms of your policy. You're not legally entitled to anything more. If the actual cost of repairs is less than the amount they paid, file a supplementary claim for the difference.
2006-10-22 05:04:49 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Take a video inventory BEFORE the damage, to substantiate the existance of your stuff. The biggest way to lose money on a claim is to "underreport" your contents. You can ask your agent to keep the video, or put it on cd and have your agent put it in your file.
When the repair time comes, ask the contractor if you can substitute for one of the laborers to do some of the hauling/grunt work - and save the cost of the employee.
Also, when you put in the claim, go in person to talk to your agent, and ask him to ask you about anything obvious you might have missed. They can be an excellent source of suggestions.
2006-10-22 08:29:53 · answer #2 · answered by Anonymous 7 · 0⤊ 0⤋
It depends on the damage. If there is not a total loss, then send the insurance company the highest estimate you got, then continue negotiating with the contractors to find a price somewhere just under the highest one.
2006-10-22 07:33:44 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Depending on the damage, if it's catastrophic call a public adjuster, they work for you and not for the insurance company. They will get a percentage of the extra $ they get for you.
2006-10-22 05:06:16 · answer #4 · answered by Jeffrey M 2 · 0⤊ 0⤋
Read your policy carefully.
2006-10-22 05:07:47 · answer #5 · answered by Zelda Hunter 7 · 0⤊ 0⤋