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by haggerty79 » Wed Feb 17, 2010 04:25 am

A pipe froze and burst in our home. Our deductible is $1000, but I am also being charged for the depreciation difference to replace carpet and padding. Is the depreciated value recoverable?

Total Comments: 2

Posted: Wed Feb 17, 2010 05:23 am Post Subject: Homeowners policy

Yes, insurance company provides coverage for pipe repairs which is subject to deductibles. Deprecation on carpet and padding is non recoverable under most policy. You need to check your policy coverage for such specific information.

Posted: Wed Feb 17, 2010 05:53 am Post Subject:

Hi haggerty,

You must go through your insurance policy document to see if there is any clause mentioned as 'recoverable depreciation' or simply look for any clause referring to depreciation. Sometimes insurance contracts also mention this as 'guaranteed replacement cost'. Find out if you have the option to claim the recoverable depreciation. If your policy allows you to claim the recoverable depreciation, next find out what documents or forms you need to submit in order to make the claim.

If your insurer is asking for the depreciation cost then there must be a clause mentioning this. Check carefully or if you cannot find it, ask your agent to point it out for you.

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