After submitting an insurance claim for damaged property, you may be surprised to find that you haven’t received the entire value of your property replacement! This is where recoverable depreciation becomes an important factor when trying to figure out exactly how much you’re owed for property damage. To put it simply, recoverable depreciation is the difference between property replacement cost and actual cash value (ACV).
Let’s say you have previously purchased a home insurance policy that covers household goods. Years ago, you bought a television for $500. After losing your television in a recent house fire, the insurance company only pays you the initial cash value of that specific item, even though it will cost you $600 to replace the item. In this instance, you’ve lost $100, and the insurance company wins.
Recover What You Deserve
After replacing your lost or damaged property, there are several steps you’ll need to take to recoup your losses. This can be a complicated process and requires careful cataloging of all related expenses to prove to the insurance agencies that you’re accurately tracking expenses. Instead of dealing with the headaches and forms associated with getting what you deserve, a public insurance adjuster is a powerful advocate to support you in your time of need and will create an ironclad claim that insurance companies can’t deny.
A Public Insurance Adjuster Can Help
If you’ve experienced loss or damage to your property, seeking the wise counsel of a seasoned insurance adjuster can stack the odds in your favor. Insurance companies happily send their adjusters to the damaged property, hoping that you’ll unwittingly agree to their excessively low insurance appraisals. Instead, partner with a public insurance adjuster that understands insurance regulations and knows how to help you get the most of your insurance claim.
When you have a public insurance adjuster in your corner, you can expect to have an immaculate claim filed. At PB Adjusting, our team of highly skilled insurance adjusters will walk you through the entire process; from in-home walk-throughs and cataloging of the property damage, to complete form filing and dealing with the insurance companies on your behalf.
Contact PB Adjusting Before Filing a Claim
Our seasoned adjusters are here to help. When you partner with our professional firm, you can expect to receive the maximum amount you’re owed for your claim. We strive to simplify the process for you and will do whatever it takes to create a pain-free experience focused on helping you receive what you’re entitled to.