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Can an insurance co charge depreciation on a Hail Comp Claim?In: Auto Insurance |
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Answer
Yes.
Answer
If they are writing the vehicle off as "totalled", yes. If it's home damage and, for example, they're saying that the roof has been used for a certain number of years and that it's half "used up", they only have to pay for the amount of the roof life that was lost. That's depreciation.
First answer by Redbeard. Last edit by Redbeard. Contributor trust: 1854 [recommend contributor]. Question popularity: 19 [recommend question]
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CAN INSURANCE CO CHARGE DEPRECIATON ON A HAIL COMP CLAIM?
