Can insurance co. refuse to pay recoverable depreciation?

by angellambnc » Fri Apr 19, 2013 04:01 pm

My insurance company refuses to pay me recoverable deprecation on a roof claim because of statue of limitations law. It took 4 years before I could replace my roof due to high deductible.They won't pay me because they said it has been more than 3 years. Stating N.C. law has statue of limitations. Do I have any recourse to recovery this money?

Total Comments: 5

Posted: Sat Apr 20, 2013 02:40 am Post Subject:

Four years? Usually I see policies state that you have 60 or 90 days to collect the difference.

If you have recourse is now a legal question... not insurance. You may want to ask an attorney.

First I'd recommend you read your policy to see if it reduces the amount of time.

Posted: Sat Apr 20, 2013 01:21 pm Post Subject:

typically the period is 180 days in the policy. most carriers are lenient, especially if you give them notice it will take longer, but 4 tears with no notice. they would appear to be acting within policy provisions

Posted: Sat Jul 26, 2014 02:30 pm Post Subject: recoverable depreciation

Can the insurance company refuse to pay recoverable depreciatin when home owner hries the contractors?

Posted: Sat Jul 26, 2014 04:50 pm Post Subject:

There is not enough information to properly answer your question. Generally, the answer is no. You are entitled to use anyone of your choosing to perform the repairs.

Posted: Tue Dec 16, 2014 03:46 pm Post Subject:

I would say that 4 years is probably too long. Your best bet would be to contact an attorney that specializes in First Party Claims to see if there may be any way to recover the money at this point. The fact that you had a high deductible has no bearing on the case as that is the policy that you purchased.

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