You can either accept the partial payment offer from your insurance company or go through the process of providing evidence to support your claim for additional funds. There are specialists that can help you build an inventory of items lost in the fire if you decide to go for more money.
Most homeowner policies include replacement cost value for personal property. This usually means that you need to provide an inventory of your items lost in the fire and value each item at today’s prices. Once you have reached agreement with your insurer, they will generally pay you the actual cash value of the items right away. You must then purchase replacement items and show receipts in order to receive the depreciation value to be paid the full replacement cost.
You need to read and understand your policy. At American Claims, we pride ourselves in understanding how the system works, and what you should receive based on your personal Insurance policy. Reach out to Tom and we can start with a simple conversation.
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