Insurance Claims & Property Loss Guidance

This is very common. Initial insurance estimates frequently omit hidden demolition, debris disposal fees, municipal code upgrades, and proper drying equipment charges. Your licensed contractor compiles a photographic line-item supplement in Xactimate to bridge the discrepancy before rebuild begins.

ACV is the depreciated value of damaged materials at the time of loss (accounting for age and wear). RCV is the true current cost to replace or repair the property with brand new materials. Once work is completed, submitting a Certificate of Completion releases all withheld depreciation.

State insurance statutes prohibit carriers from cancelling a policy mid-term solely because you filed a single legitimate claim. However, multiple claims within a three-year window can lead to non-renewal at the end of the policy period.

The appraisal clause is a dispute-resolution mechanism in standard homeowner policies. When you and your insurer cannot agree on the monetary amount of a loss, each party hires an independent appraiser, and an umpire resolves differences without needing attorney lawsuits.

Yes. Whenever a rebuild project is complex enough to require coordination of multiple trades (e.g. drywall, electrical, plumbing, and roofing), insurers are legally required under standard industry practice to include 10% Overhead and 10% Profit for general contracting management.