Non-Fault property claim question

3 Replies

Recently, my neighbor drove her car into the deck in my back yard. Long story short, her insurance company sent an adjuster and he determined the deck needs to be demolished and replaced. It is what it is.

However, the adjuster mentioned some things that I didn't quite understand. He stated that he would create a claim for the cost of replacing the deck and then subtract 20% for depreciation and that is what I would get. It would then be my responsibility to find someone to replace the deck for that price unless I was willing to pay out of pocket. He stated if I didn't want to pay out of pocket I would most likely have to come to terms with have a deck put in that was slightly smaller than my current deck.

While I understand depreciation, I feel in a situation like this it is unacceptable to place the burden on the "victim" (me) to have my deck replaced for less than the market price. Essentially, I will most likely have to pay out of pocket to have my deck rebuilt the way it currently is.

Am I being given the run around or is this the way things really are?

Do you have a homeowners policy if you do it might pay the 20% minus a deductible depending on your policy

The principle of insurance is to put you back to where you were before the incident happened. You are not supposed to profit.

What they are doing is offering you an Actual Cash Value adjusted payment that does not require you to repair or replace the deck.  This number is based on their estimate of the total cost to replace it minus the ACV factor they applied to that amount.

Essentially - here is a little bit of money should you decide to not replace the deck.

Should you go ahead and repair/replace the deck they should be paying you the balance.

That said remember what I said about not profiting from the claim - they will pay up to the amount they estimate to replace the deck as it was originally built.

That is a VERY basic version of what is happening hope that helps.

If you can't come to an agreement - call your agent and ask for their help. You could make a claim and your company should get you fully reimbursed from the other company.

It will go in as a claim against your record unfortunately but hey- new deck!

Thank you for your response. I didn't do enough digging to realize this was a website for flippers! 

Either way I appreciate the response. I am certainly not looking to profit from this. I am just looking to get my deck repaired/replaced without any out of pocket.

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