'Replacement cost' insurance appraisal ?
kitchendetective
12 years ago
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allison0704
12 years agolast modified: 9 years agoRelated Discussions
Insurance ??? Flooring Replacement
Comments (4)Technically the Ins co is responsible to cover the costs of damaged flooring & surrounding areas - the caveat (which I'm sure they wont reveal to you) - is wherever there is a transition/sash/threshold where one floor meets other they and that area (beyond transition) is not damaged - they are not responsible for. So, in your case if you have 1200 sq ft & 700 sq ft damage with NO transitions whatsoever they are responsible to replace 1200 sq - Once that is settled you may choose how you would like to proceed - You don't have to replace 1200 - you could replace the 700 if you have a good flooring person that can match the flooring How the insurance co settles is a toss up the higher they are rated the better the service - A++ rated will be more proficient than D rated Good luck...See MoreHow do you handle the high cost of health care insurance?
Comments (29)Chelone, I'm sad to hear that your mother has had to cope with some cancer. It is hard to deal with that - even if one's trouble is of one's own making. My family has a history of weak lungs, which I share. I started to smoke at age 16 and after a few months decided that I didn't care for either the taste or, being frugal, the cost - so quit. Now enjoying good health at age 75, I'm very thankful that I had the common snense to do that. And often suggest to others that I hope that they decide to quit, so increase their chances of enjoying such a prolonged and healthy retirement, as well. I try not to come off judgementally about it - and few have given a surly response. Some have thanked me. Hayjud, I hope that you were not upset by my rather joking and somewhat smart-assed suggestion that you consider moving to Canada. Seriously, have you considered taking on a part-time project to produce some income? The nice thing is that you are your own boss, you can do the kind of thing that you are interested in and good at, and can do whatever you choose at your own speed. You don't have the pressure to produce enough to live on - as you had planned to get along on the retirement income that was already in place. I subscribe to a newsletter that discussed some of the issues related to that just this week - can send you URL if you wish (don't know it at present - but can look it up). On the internet might be possible. Some sell on ebay, etc. I feel that it would be preferable if you have knowledge that you can sell, whether by newsletter, ezine, etc. Possibly even personal consultation, whether on the internet or even by phone. Easy to send the messages - better than having to wrap and ship products, I think. I find that it is difficult to find people to reply showing interest in your offer, let alone subscribing, for there is so much material there already. Many don't like what they see and have been turned off regarding the whole thing. I have an idea that might be of interest, which I've checked out around here, but have minimal information that might be helpful to you. Good wishes as you proceed with your retirement. I hope that you enjoy it and have the good helath to be able to do a number of the things that you've looked forward to doing for a number of recent years. joyful...See MoreWill insurance replace granite if backsplash breaks? cabinets?
Comments (8)I am a fabricator. We do several water damage jobs a year. We always explain to the customer that even with the best available techniques and tools there's no way to guarantee no breakage will occur when removing previously installed granite. In every instance if something did break the insurance company paid for new tops. I once had a contractor tell me I was responsible for breakage since I was "the professional". I passed on the job....See MoreHow To Establish "Replacement Value" on Home Insurance
Comments (19)chisue, on the topic of insuring a structure itself, I'm not sure it would be workable to do it piecemeal - so much for this room, so much for that. Excluding items or occurrences is different. Insurance for earthquake or flood coverage, riders for expensive possessions, and the like need separate policies and separate premiums. Not part of a standard homeowners policy. food, it's the nature of how the insurance business works that explains why some coverage seems expensive and other coverage, less so. What insurance companies do is pool risks - they don't agree to cover a customers losses because they have deep pockets or kind hearts. What they do is charge a large number of customers to provide coverage. The more and more diverse, the better. Their experience and statistics tell them how much to expect to pay out in claims (under normal circumstances) across their customer base each year. The sum of expected claims, plus operating costs, plus a profit element, determines premium charges and rate differences for different characteristics of what's being insured. Claims on homeowners insurance tend to be infrequent, that's why the cost is usually moderate in most circumstances. In places where claims are more frequent or of a particular nature to be expected, premiums are higher (like high crime areas). All insurance companies do the same and like medical insurance companies, regulators and applicable laws require them to have certain levels of extra reserves. Also, many insurance companies buy what's called "reinsurance" to spread their risks with others and help cover catastrophic or unforeseen levels of claims....See Morekitchendetective
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