| Message |
Author |
|
 Posted: Mon Jun 07, 2010 12:40 am Post subject: Can the insured keep the recoverable depreciation money if a |
|
|
| If I find a contractor to do house repairs under the total amount aloted on insurance claim (including the recoverable depreciation), then is the remainder of the recoverable depreciation money mine? |
|
chadmiller18
New member
Joined: 07 Jun 2010
Posts: 2
1.61 Dollars($)
|
|
| Posted: Mon Jun 07, 2010 10:59 am Post subject: |
|
|
Nope...you only recover the depreciation when you supply a receipt showing you paid this (held back) amount.
_________________
"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr. |
|
Lori
Moderator
Joined: 10 Sep 2007
Posts: 8173
Location: Missouri
287.90 Dollars($)
|
|
| Posted: Tue Jun 08, 2010 4:03 pm Post subject: |
|
|
Definitely not. The policy is designed to "indemnify" you. Which means, bring you back to where you were before the loss occurred. It is not set up for you to profit, just to break even.(less the deductible)
_________________
Glen R VerHagen, CIC
VGW Insurance, LLP
www.Quotes4insurance.com
Specialists for Home & Auto Insurance
"Without your business; we don't have a business" |
|
InsuranceDude
Member
Joined: 06 Apr 2010
Posts: 66
Location: Dallas, Texas
15.29 Dollars($)
|
|
| Posted: Sun Jun 13, 2010 6:05 am Post subject: Can I act as Contractor & Subcontractor |
|
|
Can I act as my own contractor and hire my own employees, as well as do some of the work myself? And, can I charge a reasonable amount for the labor for my employees and myself if it exceeds the amount of the Cash Value Payment? If so, what is a reasonable charge for labor? I may want to save some money, but I don't wish to do all of the work for free when someone else will be paid for it.
_________________
Register Now to have your Insurance queries solved. |
|
ConfusedinOK
Guest
|
|
| Posted: Mon Jun 14, 2010 6:58 pm Post subject: |
|
|
That is going to be very specific to your claim. You should be able to find a way to work this out at some level. My advice to you would be to speak directly to the adjuster that is handling your claim and explain what you are wanting to do. They will be able to tell you specifically what options you have available related to this issue.
_________________
Glen R VerHagen, CIC
VGW Insurance, LLP
www.Quotes4insurance.com
Specialists for Home & Auto Insurance
"Without your business; we don't have a business" |
|
InsuranceDude
Member
Joined: 06 Apr 2010
Posts: 66
Location: Dallas, Texas
15.29 Dollars($)
|
|
