www.doyleraizner.com http Doyle Raizner LLP One Houston Center 1221 McKinney Street, Suite 4100 Houston, TX 77010 (713) 571-1146 Property Damage Insurance Claim Dispute from Tornado, Hail and Wind Storms – Property Insurance Lawyers If your business or your family has suffered damage from the recent wind and hail in Arizona, from the tornadoes and storms in Illinois, Indiana and throughout the widwest, from hail in Oklahoma, or from any other natural disaster, you should not be forced into a lowball insurance settlement on your claim. Call Doyle Raizner to protect your rights. We will offer you a free consultation with an experienced attorney, and our team will do our very best to help.
www.MurrayGRP.com – #31 – Actual Cash Value is way of valuing a property insurance loss after a claim. The main concept that you need to understand with actual cash value is that in the event of a loss if your policy is actual cash value, depreciation will be taken out of your payment. Meaning if you have 10 year old cabinets with a 20 year life and those cabinets cost $10000 to replace. You will get a check from the insurance carrier for $5000. (Very simplified for this example this is just informational for your understanding that is not the actual amount you are guaranteed to get). Yes in most cases actual cash value policies cost less than Replacement Cost policies but the penalty when you have a loss can be severe. It is important to always consult a professional insurance agent about your specific insurance needs. Our team of insurance professionals at The Murray Group would be happy to answer any questions you have regarding your homeowners or property insurance policy. Click the link above to visit our website and learn more. ACTION: If this video provided you with any level of value Please Click the “Like” button above. www.MurrayGRP.com
I just posted earlier. I have another question. I tried to complete some of this personal property inventory worksheet that Statefarm gave me….It asks me for Replacement Cost, and then asks me for Actual Cash Value. It seems I have to depreciate the item. How do I depreciate an item like my sofa?
