Steve_Hickey
New Member
> I had substantial damage to my home from Hurricane Ike. I have a
> replacement cost policy with Texas Windstorm through Allstate. I have
> received an estimate from my insurance adjuster for several thousand dollars.
> They are withholding $9,000 called Recoverable Depreciation. I
> understand that RD is money that will be given to me after I provide
> proof of repairs.
>
> My question is: If I decide that I do not want to pursue these major
> repairs can I take this money, including the Recoverable
> Depreciation---demo my existing home and rebuild either on the same
> site or somewhere else? I would like to know my options.
> Since these repairs will require almost a re-gut/redo I will probably
> need to relocate while they are being done. I know I cannot rebuild/replace my home for what the insurance is going to pay but it would be a good down payment.
I own the home so there is no lien holder.
> replacement cost policy with Texas Windstorm through Allstate. I have
> received an estimate from my insurance adjuster for several thousand dollars.
> They are withholding $9,000 called Recoverable Depreciation. I
> understand that RD is money that will be given to me after I provide
> proof of repairs.
>
> My question is: If I decide that I do not want to pursue these major
> repairs can I take this money, including the Recoverable
> Depreciation---demo my existing home and rebuild either on the same
> site or somewhere else? I would like to know my options.
> Since these repairs will require almost a re-gut/redo I will probably
> need to relocate while they are being done. I know I cannot rebuild/replace my home for what the insurance is going to pay but it would be a good down payment.
I own the home so there is no lien holder.
