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TJ, Esq.
TJ, Esq., Attorney
Category: Legal
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Experience:  JD, MBA
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How can I get an insurance company to pay us actual cost for

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How can I get an insurance company to pay us actual cost for our home damage loss ?
Hello and thank you for allowing me the opportunity to assist you.

I'm sorry to say that it is proper for an insurance company to only pay the depreciated value. The liable party is only responsible for the value of what was ruined ... not the replacement value, which may be substantially more because of the cost of new materials. In other words, the liable party is only responsible for putting you back in the position you were in prior to causing the damage. If it had to replace the ruined materials with new materials that cost more than the value of what was damaged, then you'd be in a better position rather than the same position. Of course, I realize that there is the counter argument that you are not in the same position because perhaps you cannot find used replacement materials. Nonetheless, the law looks at value, not availability.

However, you may want to tell the roofing company that it needs to cover the difference or you will sue. Unfortunately, you would not likely have a good case for the reasons stated above, but the threat may spur the roofing company to step up and help to cover some of the expense (or to argue with their insurance company on your behalf, or to pay your deductible if your insurance will cover the rest).

Does that answer your question? Please let me know if you need clarification, as I am happy to continue helping you until you are satisfied. Also, your positive feedback is much appreciated. Thank you for using our service!

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