I am having to make a homeowners claim for the first time. We are insured by Cincinnati Insurance through Starke Agency in Montgomery. Is depreciation of materials always a thing? Copied from an email between me, the adjuster and the contractor: "The initial payment to Mr. Scott would be less his homeowner deductible and applicable depreciation applied to pre taxed materials. Depreciation isn’t applied to labor or taxes. Once repairs are completed and I have an invoice for the completed repairs, Mr. Scott would be entitled to receive any applicable depreciation withheld up to the repair amount on the estimate, if there are no unforeseen supplemental estimates. Please provide me with a itemized estimate breaking out the cost of the pre taxed materials, thank you."
Sounds like they hold some $$ back, and then give me the remainder after the work is done. Car claims don't work that way, which is the only claim I've ever had to make.
Sounds like they hold some $$ back, and then give me the remainder after the work is done. Car claims don't work that way, which is the only claim I've ever had to make.
