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Your insurance is for replacement do you have to replace to get the money?
Wiki User
∙ 14y ago
company will pay you the depreciated value and will then reimburse you for the difference once the buildings been replaced
Wiki User
∙ 14y ago
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What is Money Supermarket Insurance?
Money Supermarket is a name of a company that provides car insurance, health insurance, travel insurance, home insurance, business insurance and many more. Money Supermarket company was founded in 1993.
Where does insurance claims money come from?
When you get insurance on a car, a house, a boat, you pay the insurance company money, known as premiums. The insurance company invests that money. When there is a claim, some of the premium, along with some of the interest from the invested money, is used to pay the claim.
How do you get money back from lapsed life insurance met life?
how do you get money back from life insurance met
How do you get insurance money?
Insurance money is paid when you make a valid claim against the policy and can prove why the situation falls under the terms of the policy---whether it is Life Insurance, Car Insurance, Accident Insurance, Travel Insurance, etc. Call the Insurance Company for exact details.
How long can a insurance company request refunds?
If you received money that you were not entitled to and you deposited the insurance check into your bank account and the money was a payout from an insurance claim, the insurance company can swipe the money out of your account without your prior knowledge for up to 3 years. If you received money as a result of a criminal act, the statute of limitations for that crime would guide the insurance company's timeline.
What kind of insurance provides replacement value for personal possessions?
Renter's insurance Renter's insurance
Can the insurance company replace an item instead of paying for it?
Replacement coverageYes, Most insurance policies do indicate that the Insurance company will indemnify you either by compensating your monetarily for your loss or by replacement of the item with a similar or same one of like kind and quality.
Who pays to replace a house demolished by fire?
Insurance covers some of the cost and the rest the homeowner pays for the replacement.
What are the pros and cons of having my insurance cover the cost of windshield replacement?
The pros are such a that if your windsheild is broken then they will buy a new one for your car, The bad part is that its very inexpensive to have a wind sheild replace so the insurance money will make alot more than if you bought it for yourself
How much does it cost to replace windscreen on 2001 Nissan Xtrail?
Check with your insurance company or agent. Many cover glass replacement.
If you have replacement cost ins and have a total loss can you replace it with something of lessor value and keep rest of money?
NO
Am I required to use insurance money to replace roof?
Insurance companies grant money to correct issues from claims. If a person receives money to replace a roof from an insurance company, the money should be used for the repair. If a person decides to not use the money to replace the roof, there could be issues selling the home. The value of the home could decrease. Another issue a person may encounter is the risk of other damages resulting from the roof not being repaired. The insurance company may not cover damages to the home as a result of the roof not being replaced.
If insurance company sends a check for roof replacement and one get it 'fixed' does he has to send the money back to insurance company?
Most policies will pay for roof damage on an "Actual cash value" basis until the roof is replaced. Then, IF you have replacement cost coverage they will make up the difference of the amount paid under actual cash value and actual replacement cost, LESS the amount of your deductible. If you elect not to repair or replace the roof, your insurance company could exclude your roof from further damage or additional payments until you show the monies paid to you were used to repair or replace as indicated by their estimate and claim payment. Otherwise, the money is yours unless the home is mortgaged. If it is mortgaged, the check should have been made to you and the mortgagee, and if the mortgagee endorses it it is yours.
Does regular house insurance replace the home's contents?
Regular house insurance does not cover the contents of the house and so will not cover the replacement of those items. A separate assessment is made of the contents of the house and a separate amount is charged for their insurance.
If you need a nee replacement can you use sick and accident insurance?
if i need nee replacement can i clam it on accident insurance
You have insurance on your home but no replacement insurance What does this mean?
HOAIt means our policy is based on actual value rather than replacement cost. It means that the insurance company is not guaranteeing you the replacement of your home if it burns down. For example, your insurance policy limit is $200,000, but the cost of replacing your home is $210,000, if you had a replacement policy, the insurance would pay for the replacement of your home despite the fact that your insurance limit is only $200,000. However, the insured value at the time of the loss is usually required to be at least 80% of the replacement cost before your policy is covered on a replacement cost basis.
How does one get a replacement car insurance card?
One can obtain a replacement car insurance card by contacting the insurance company and ask for a replacement. Sometime they are able to email a temporary copy of the policy card that can be printed out and carried until a replacement can be sent in the mail.
