water damage adjuster final draft Anna Martins asked 1 month ago
water damage adjuster final draft

I need to understand how my home insurance calculated the depreciation and Actual Cash Value (ACV) of my claim. The insurance adjuster provided a final draft, but they are allocating 83.94% of the ACV to the dwelling and 16.06% to matching of undamaged property. The insurance company does not want to pay for matching undamaged items, but my policy includes that coverage.

My water heater broke, causing water damage on the first floor (living/dining area, laundry and storage room, and kitchen). My dwelling coverage is $199,000, and the insurance company pays up to 100% of that limit. The damage did not come close to exceeding my policy limit. However, the total claim payment was only $21,000, which is not enough. The kitchen was damaged, including the cabinets, and I will need new granite countertops.

I need to file a supplemental claim, but I do not understand the adjuster’s final draft.

Is there a free service that can help me review this? I do not have the money to hire a lawyer.

1 Answers
Amy Bach Amy Bach Staff answered 1 month ago
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Hi Anna,

You can start by opening up a consumer request for help with Florida DFS, or you can contact a policyholder side expert (attorney or public adjuster) who works on a contingency fee basis and will be willing to review the estimate from the insurance company’s field adjuster and the policy without charging you money.

The insurer may have withheld recoverable depreciation but still be planning to pay more once you establish you’ve spent the amount they paid so far. Insurance companies generally will pay a replacement cost value minus the deductible and then release what they held back (“recoverable depreciation”) once repairs have been made. Also, the insurer may be saying they will pay for damaged property but not for undamaged property which they believe is only cosmetic in nature. Florida does have very favorable laws on this point (getting insurers to cover restoring the property to uniform and consistent appearance) so this is why reviewing the insurer’s estimate plus the policy is important. You may not need to file a supplemental claim. Jason Manten, a Florida-based UP volunteer and an experienced policyholder attorney reviewed your question and helped draft this answer and may be willing to review the policy and the adjuster’s estimate to advise you on next steps.

Best of luck, Amy