The insurance Co paid the policy limits, but even with 50% Extended Replacement Cost we cannot come close to rebuilding for that amount. The exactimate replacement value estimate used by the Ins Co is about half of what it would actually cost to rebuild. I informed the insurance company that we do not accept its estimate, but is there any value to going through the time and expense of getting rebuilding estimates, especially since we are not rebuilding at the same location?
Anonymous asked 2 years ago 1 Answers
You can start by correcting their estimate, including pointing out items that are not included or incorrect pricing to get you to policy limits. Underinsurance is a different issue – here’s a link to a recent webinar for Colorado residents on underinsurance – https://uphelp.org/events/roadmap-to-recovery-virtual-workshop-for-2020-colorado-survivors-2/
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