I had a new water well drilled on my property this spring in Ohio. The heavy drill rig tore
my asphalt driveway
to shreds and the driller knew it. He called his insurance
that afternoon. I was only able to get one estimate for someone to come to my rural
area. It is really expensive to repair as my driveway is very long. I said I would pay the
cost for the final dress coat of asphalt if the insurance company would pay for the areas
that have to be removed and fixed that were crushed. The repair part alone will cost
over $18K and the top coat will cost over $14K. I just got home to find a message on
my answering machine from the insurance company saying they had calculated that
they are going to pay some amount ( I wasn't told how much ) AFTER DEPRECIATION.
Since when does home property depreciate? Do I need to get a lawyer and take the
insurance company to court? What are my rights and what can I expect? I called the
insurance company back and the individual doing this claim that I need the full amount
to do this repair. What are my rights and what do I have a right to expect? The drive
is 19 years old and done to highway standards and not abused up until now.