I had damage to my

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Posted: Sat Nov 08, 2008 2:22 am Post subject: I had damage to my

I had damage to my home in Galveston during hurricane Ike. want to know the rules for rebuilding or repairing basis damage amounts.

Don

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Joined: 08 Nov 2008
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Posted: Sat Nov 08, 2008 6:46 am Post subject:

If your home insurance policy states that it'll only cover the expenses for mending the damages done to the property, then the insurer will only spend the amount it'll take to repair. The replacement cost policy, however, would cover the expenses that are required to replace the damaged portion. The insurer promises to replace/repair the damaged portion with material of similar nature. And no amount is deducted from the claim amount owing to the factors of wear and tear. Most of the home policies are of this nature.

jeorge

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Joined: 07 Oct 2005
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Posted: Sat Nov 08, 2008 6:57 am Post subject:

Hi, there may be no rule of thumb available as to determine the exact amount of loss. The insurance companies and their claim departments might have sets of methods to apply for determining the loss. Hence, an expert/ adjuster can only give you a fair idea. However, if the damage is repairable and a partial repair can solve the issue the insurance company might like to do that. If you have both the repair and replace clause in your policy, the insurer may offer whichever amount is less. Have you turner the claim to the insurer yet? Thanks, Rupert

RupertWBradson

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Posted: Sun Nov 09, 2008 11:40 am Post subject:

I'm assuming you meant 'basic' amounts...was your home totaled? if so then what are your limits? _________________ "Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr.

Lori

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Joined: 10 Sep 2007
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Location: Missouri
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Posted: Mon Nov 10, 2008 9:54 am Post subject:

if you house was damageed in an hurricane and the said house is insured The insurance companies and their claim departments will have sets of methods to apply for determining the loss. Hence, an expert or adjuster can only give you a fair idea. However, if the damage is repairable and a partial repair can solve the issue the insurance company might like to do that. If you have both the repair and replace clause in your policy, the insurer may offer whichever amount is less. but if it is just one of either repair or rebuld you sign with the company will just go along withe the option you chosed if it is replace the insurance company will go on and replaice the damaged house if you have not told them about it go and thell them on time with out any delay or you go and rent an expart to estimate the amount of damage befor you go to the insurance company