The insurance company withheld depreciation on my roof. Do I get that money?
I’ve got a secret for you, Memphis homeowners. Want to know the key to a rock-solid roof that’ll stand up to anything Mother Nature throws its…
When it comes to protecting your home, one of the most important elements is the roof. A high-quality roof not only provides security and weather…
Most homeowner property policies cover the full replacement value. The first check the insurance company gives you is the Actual COST Value (ACV); what the roof cost to be replaced or repaired today after deducting for your roof’s age, just like your car is worth less now than the day you bought it. The money withheld is called the depreciation, or technically, the Replacement Cost Value (RCV), and will be paid to you when the work is completed or most times upon the submission of a signed contract with a licensed contractor for the work specified in the insurance adjusters repair estimate.