Kentucky ERISA Disability & Life Insurance Claim Lawyers
Your insurance company may not be paying all the recoverable depreciation you are owed on your homeowners insurance claim.
If you have had property damage at your home and received an insurance claim payment from your insurance company, you may be wondering why this payment is significantly less than the cost to repair your property.
Insurers will often refer to the initial payment to you as “actual cash value” or a payment that has “depreciation” deducted. The term “actual cash value” simply means the cost to replace your roof minus the depreciation of your roof. This is often calculated by the insurance company using a computer estimating software called Xactimate.