Hail Damage Question

[adjusterjack]

Also, by definition of it being "replacement cost" - I'd argue that when I purchased the home (or built it), I had uniform siding of all new product. I'm not willing to settle for non-uniform siding. Replacement cost is replacing my uniform siding with uniform siding.

And you'd be wrong. That's not what "replacement cost" is. "Replacement cost" is repairing or replacing the damaged item at today's price without any deduction for depreciation.

The following definition appears in a homeowners policy:

"Replacement cost" means the current cost at
the time of loss, without deduction for
depreciation, to replace the damaged,
destroyed or stolen property with articles of like
kind and quality.

 

[sshafran]

And you'd be wrong. That's not what "replacement cost" is. "Replacement cost" is repairing or replacing the damaged item at today's price without any deduction for depreciation.

The following definition appears in a homeowners policy:

Nope, you are wrong.

You replace two elevations of siding and the match isn't pretty close to perfect, then my loss has not been covered.

The courts have ruled that a lack of matching **is** a direct physical loss. My siding doesnt match after your cheap repair, I've still lost something of value.

So, rcv doesn't just cover "physical damage" - it encompasses making sure my siding matches. And it needs to be a match which is reasonably undetectable.

Same with someone's roof. Don't tell me you don't notice just about any patch job...

http://www.propertyinsurancecoverag...-in-favor-of-policyholders-on-matching-issue/

While you write the check for four sides... allow me to welcome you to the forum

 

[adjusterjack]

You can believe what you want to believe and then get a reality check when you have a claim.

 

[sshafran]

You can believe what you want to believe and then get a reality check when you have a claim.

Well, if I got an adjuster like yourself who wants to play the classic game of "deny, delay, and underpay" then the reality check would be fought until I won.

And I would win.

A real adjuster (acting in good-faith) would acknowledge the matching issue once known and write a check for all elevations of siding (or all roof elevations), even while knowing he could probably get away with underpaying as most homeowners don't know any better.

 

[adjusterjack]

Well, if I got an adjuster like yourself who wants to play the classic game of "deny, delay, and underpay" then the reality check would be fought until I won.

And I would win.

A real adjuster (acting in good-faith) would acknowledge the matching issue once known and write a check for all elevations of siding (or all roof elevations), even while knowing he could probably get away with underpaying as most homeowners don't know any better.

Well, then, there's no arguing with you.

 

[insurance1822]

Well, then, there's no arguing with you.

^ I like this guy! How much experience do you have adjusting claims?

I'm pretty sure a claims adjuster knows best. Clearly, you have an issue w/ claims adjusters. Have you talked w/ them before? they're dealing w/ *** insureds all day on the front lines. I feel for these guys. Insured's & their contractors ALWAYS trying to inflate claims etc.

I've never met an adjuster who was trying to screw an insured (in personal lines.)

 

[adjusterjack]

How much experience do you have adjusting claims?

I spent 35 years in the insurance industry, the last 9 as a property claims adjuster before I retired. During that period I handled about 6000 claims including the 2004 and 2005 hurricane seasons in the gulf states (Katrina among others).

I'm pretty sure a claims adjuster knows best.

I never claimed to be infallible but didn't get it wrong to often.

Clearly, you have an issue w/ claims adjusters. Have you talked w/ them before? they're dealing w/ *** insureds all day on the front lines.

In all fairness to the insurance buying public (though some are certainly idiots ) it's more often a matter of lack of knowledge.

Insured's & their contractors ALWAYS trying to inflate claims etc.

I wouldn't say ALWAYS but it does happen. Fortunately, with the advent of the internet and construction software it became more and more difficult for them to get over on us.

I've never met an adjuster who was trying to screw an insured (in personal lines.)

Like any orchard there are always a few rotten apples but, for the most part we do our best to do right by our customers.

I think a lot of the consumer issues are caused by the complexity of insurance and the lack of understanding by the consumer.

To that end, here is a Plain English Homeowners Policy.

PLAIN ENGLISH HOMEOWNERS POLICY
For a period of ___year(s) ending promptly at midnight, Standard time on ________________
Property Location:__________________________________________________

AMOUNT OF INSURANCE YOU BOUGHT: BLANKET ON YOUR HOUSE, ALL THE ACCUMULATED FURNITURE AND STUFF INSIDE YOUR HOUSE, YOUR GARAGE (the one where you park your car, not Al's Body Shop) AND ANY OTHER SMALL BUILDING ON THE LOT, AND WHAT IT COSTS EXTRA TO LIVE WHEN YOUR HOUSE IS BURNED DOWN OR SOMETHING LIKE THAT HAPPENS, FOR SO LONG AS WE SAY IT'S OK.

WE ALSO WILL DEFEND YOU IN COURT IF SOMEBODY MAKES A CLAIM AGAINST YOU, OR PAY THE DAMAGES, AND WE'LL PAY THE MEDICAL BILLS OF SOME PEOPLE WHO GET HURT ACCIDENTALLY AT YOUR PLACE, OR SOME OTHER PLACE.

(We could spell it all out in detail, but you wouldn't understand one word of it anyway. We had to hire ten lawyers just to figure this out after we wrote it!)

CONDITIONS:

1. If anything happens and it looks like it's going to cost you money, call us right away and we'll tell you if we're apt to pay for it.
2. Our agent has already told you this is the new "all risk" policy, but even he doesn't know what he's selling, so if you have any questions, call or write to us, not some insurance salesman.
3. Don't lie to us about what happened or how much something cost or how new it is or how it never leaked before. If you try to snow us, we'll not only cancel this policy so fast it'll make your head swim, we'll pass the word around and you won't ever be able to get an insurance policy again short of the Hong Kong Mutual. There are so many regulations, and an Insurance Commissioner who thinks he's king, that we can't lie to you. So don't you give us any song and dance or we'll land on you hard.
4. Replacement Cost: forget it. You don't need it. We'll pay what we say is fair with or without any "Replacement Cost coverage," and we don't care what your neighbor's policy has on it.
5. The "AMOUNT OF INSURANCE YOU BOUGHT" listed above is the absolute cost we will pay no matter what your house and other stuff is worth or however many people sue you for any one accident, so you'd better be sure you have bought enough to cover the worst disaster that you can imagine. Don't depend on our agent for this! If he had any imagination, he'd find an honest occupation.
6. Don't bother us with a lot of questions about what is and isn't covered by this insurance. We'll tell you when you need to know. If we told you now you'd forget it in an hour, if you ever understood it in the first place.
7. YOUR DUTIES: (1) Pay the premium, and (2) call us right away when you think something's happened (don't try to analyze it, just call in.) That's all you gotta do. Don't try to get cute; see (3) above, in case you have forgotten already (which doesn't surprise us.)
8. If we think of any additional conditions, we'll let you know. By the way, if what happens involves a vehicle, airplane or boat or has to do with your job, forget it; don't call us; we don’t cover it.

(Agents: Please forgive the facetious disparagement of insurance agents.)

 

[Herkster]

Win for the prospect, hopefully they'll be coming for a quote after a little advice that helped the claims process along.