Policyholder Question: How Much Depreciation Should be Taken for a Driveway?

Here is an insurance claim question that we answered as a contributing member of experts for United Policyholders who advocates for property owners. Q. What, if any, should be acceptable ACV on a driveway and walkway on a personal residence?  House was demolished by fire and working with adjuster on fair settlement value of these surfaces.  Policy provides…

Insurance Companies Using Preferred Contractors to Settle Claims Not in Policyholders Best Interest

Insurance Companies Using Preferred Contractors to Settle Claims Not in Policyholders Best Interest

A policyholder in South Carolina recently wrote us about a fire claim turned nightmare. When notified of a claim, insurance companies will sometimes send out their preferred vendor as a way to provide fast service but also to control costs and prevent the policyholder from hiring their own vendor, since they have contracted reduced rates…