calico1597
Recycles dryer sheets
December 14 a vehicle left the road and barreled into our house. It plowed thru our garage door striking my husbands truck, a 2012 Chevy Silverado. The impact launched our truck 35 feet into the house, thru the laundry room into the kitchen. I was not home, my husband was in the rear of the house. He's ok other than a twisted knee when he ran out of the house.
The driver is a 20+ year old male with no drivers license. He has a history of seizures. He told the police he 'felt one coming on' and tried to pull off the road. He had to make a sharp turn to run into our house. We are on two acres and the house is set back from the road. He was driving a 2004 Ford Explorer that belonged to his girlfriend. She only has $20K in liability, the minimum required by Illinois. There is more to this part of the story, but my question is regarding our homeowner's insurance.
We have replacement coverage thru Travelers Insurance. Their adjuster was here all day Thursday. He seemed thorough and itemized the repairs needed. He said it's very likely more damage will be discovered when costruction begins. The property estimate has several columns. One is ACV (actual cost value) Depreciation, and RCV (replacement cost value). When I added the columns, actual cost is $45K and the replacement cost is $58K. He gave us a check for $32K. The last page of the estimate summary has the actual cost at $31K and replacement cost at $41K. I sent him an email and asked to explain the differences and how a check of $32K factored in. I did not get a reply, he is on vacation this week. I'm sure someone in this group has experienced a loss and can help explain how this all works.
Two walls are destroyed and a large hole in the laundry room ceiling. I lost half of my kitchen cabinets. We are going to do some upgrades at this time, the house is 40 years old. If I make changes and don't follow the estimate exact will I still be paid replacement costs?
We do have a link to a website and will submit more costs to garage and kitchen items as we think of them.
The driver is a 20+ year old male with no drivers license. He has a history of seizures. He told the police he 'felt one coming on' and tried to pull off the road. He had to make a sharp turn to run into our house. We are on two acres and the house is set back from the road. He was driving a 2004 Ford Explorer that belonged to his girlfriend. She only has $20K in liability, the minimum required by Illinois. There is more to this part of the story, but my question is regarding our homeowner's insurance.
We have replacement coverage thru Travelers Insurance. Their adjuster was here all day Thursday. He seemed thorough and itemized the repairs needed. He said it's very likely more damage will be discovered when costruction begins. The property estimate has several columns. One is ACV (actual cost value) Depreciation, and RCV (replacement cost value). When I added the columns, actual cost is $45K and the replacement cost is $58K. He gave us a check for $32K. The last page of the estimate summary has the actual cost at $31K and replacement cost at $41K. I sent him an email and asked to explain the differences and how a check of $32K factored in. I did not get a reply, he is on vacation this week. I'm sure someone in this group has experienced a loss and can help explain how this all works.
Two walls are destroyed and a large hole in the laundry room ceiling. I lost half of my kitchen cabinets. We are going to do some upgrades at this time, the house is 40 years old. If I make changes and don't follow the estimate exact will I still be paid replacement costs?
We do have a link to a website and will submit more costs to garage and kitchen items as we think of them.
Attachments
Last edited: