villachi asked 3 years ago Hi there,
We had extensive fire damage due to human negligence. The neighbor’s insurance is subpar, and they are claiming that we have to figure in “depreciation.” I’m upset to say the least. The fire damage includes a rather large retaining wall, etc. Any advice?
Karl Susman Expert answered 3 years ago Hi Andrea,
It sounds as if you have filed your claim with your neighbor’s insurance company and are not pleased with the method of valuation they are using. Without having any details on the insurer, I would suggest the fastest course of action for you would be to file the claim with your homeowners or property insurance company for the damage. Your insurer will likely then subrogate (meaning go back and collect what they paid for the loss from the neighbor’s insurance company) to get their money back.
Let me know if that helps?
Karl Susman