Jump to content
Sign in to follow this  
ELPJACK

neighbor hit my house

Recommended Posts

My neighbor hit my house with his car. His insurance company is depreciating the damage and is paying me the depreciated value. Is this legal
 
Yes, it's legal. Any time you have a negligence claim against another person you are only entitled to the Actual Cash Value of the property. That's defined as replacement (or repair) cost less depreciation. It's just as legal with homes as it is with personal property (you don't get a new TV to replace an old one) and cars (you don't get a new car to replace an old one).
 
You have the option of suing the person who hit your house and trying to prove that too much depreciation was applied.
 
Or, if you have a Replacement Cost homeowners policy (most are), you can have your own insurance company pay the full amount of the repair cost, less your deductible, and when your insurance company recovers money from the driver's insurance company, you'll get your deductible reimbursed.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

×
×
  • Create New...