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Recoverable depreciation after large homeowners loss

Discussion in 'Homeowners, Fire, Casualty' started by Blown, Sep 20, 2014.

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  1. Blown

    Blown Law Topic Starter New Member

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    I had a large claim in Oklahoma. Water damaged bottom 2/3 of our home. I had much audiophile equipment and higher end furniture that was completely ruined.

    With the dollar amount and number of item damaged/ruined it is next to impossible to use what was paid vs the recoverable depreciation amount paid.

    I was to have the funds in Dec according to an email from adjuster. Management stepped in to do a second review to hassle me and accuse me of fraud.

    They "Good Neighbor" folks had me do a recorded q&a and we passed with flying colors as there were was nothing to hide. They didnt like the dollar amount
    of what they had to pay.

    The adjuster was good as they sent their specialty casualty team as it was a large loss.

    They paid a little over 50k. By the time we got the check we had to spend some on other than replacing all the items.

    I have $130k in recoverable depreciation. 60k was electronic audiophile equipment.

    To replace is all special order. There is no mathmatical way to replace and wait 30-45 days for payment from sfi without us using our last dime to accomplish
    half of what is owed.

    Is their a way to do a sales contract with one vendor to do a down payment and tell sfi I need the recoverable depreciated amount paid to complete the transaction?

    I need this for the expensive equipment and furniture as they dinged me hard on depreciation as I told the truth on the age. The equipment was perfect but older as I bought and traded for my toys before the kids were older and took more money to live.

    I need to tell them I spent my funds on downpayment on items and need them to pay the owed replacement amount.

    We knew we had 1 year bc of personal/business reasons before we could start the remodel and replacement of items.

    We didnt want or expect our calamity. The stress is taking a tole on my wife and myself. They did everything to hassle us. Public adjuster screwed me around during the ordeal and sfi hated this person and it did not help my position at all. We were not renewed after 30 years as a customer.

    I still have a roof claim pending, car as well. But getting back in shape in our home and possessions is now a priority bc we have lived sub par for about 9 months.

    Please let me know about the sales contract and telling sfi I made a down payment and want them to pay the recoverable amount to execute the contract.
    70k audio electronic equipment 20k leather furniture was total recoverable and was paid 25k acv.

    Best,

    Blown Okie
     
  2. army judge

    army judge Super Moderator

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    If you're unhappy with the amount reimbursed I suggest you consult an attorney.
    I don't see much wiggle room against an insurance company. Good luck.
     
  3. Blown

    Blown Law Topic Starter New Member

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    There is no wiggle room with a company that has 800 attorneys.

    This is what he recommended that I tell sfi that I entered a contractual agreement with a down payment and do not have enough funds left
    to pay for the full amount due to the large amount.

    So I wanted to see if anyone in the fourm had had experience in this matter.

    So??? I like second opinions, especially legal ones :}

    Blown
     
  4. army judge

    army judge Super Moderator

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    Nothing ventured, nothing gained.

    After what they've put you through, I'd try to steer clear of any more interactions.

    I wouldn't want them sniffing around anymore.
     

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