what is a usual % dollar amount of an insurance policies replacement coverage

[beagleboy]

Hey all,
I had a small electrical fire in my apt due to the Power Companys faulty equipment.
They have agreed to give me a check for "replacement value" of the damaged equipment.
I fully understand what "replacement value" means.

My question is for anyone who holds a job or has experience with an Insurance Company or claims filing or knows what % of the destroyed items original value a Insurance Company might pay. I live in Florida.

I read on the internet that S. Carolina has a state law concerning homeowners insurance. A provider has to pay at least 80% of the items original value for a "replacement value".

I imagine I will get between 65 and 80% of the original value.

What do you think?

thx in advance.

 

[alasdairm]

it will depend entirely on your policy.

i've had policies which cover 100% (minus a deductable). when i lived in london, i had a policy for home contents that covered more than 100% - if a newer model of n item was more expensive, that was the replacement cost (again, minus the deductable).

alasdair

 

[beagleboy]

The power company has been trying to avoid me. The accident happened about a month ago. They want to settle having payed the victim the least amount of money. Cant blame them, myself being somewhat business minded.

 

[modern buddha]

Keep bothering them, man. Keep calling, asking for your agent, or whomever, taking names, keeping tabs on who told you what.

Ask them where you send the replacement cost estimate to, make a copy of the estimate and send one in. In order to try to avoid you more, they will tell you it got "lost in the mail" or that you need to send more information.

Be their bitch and do what they want. Keep calling two or three times a week to check on it.

They WANT you to forget about it because if you stop at any time and have a lapse in time between your contacting of them, they can rescind their policy if that lapse falls outside a certain time frame.

For a lot of companies, it's 45 days that you need to have that information in to them by. So keep calling, keep asking, take names and get addresses.