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How do you get the most money from your insurance co after your car is declared a total loss from a flood damage?
Wiki User
∙ 16y ago
I concur "100%" with Insurance Plus, you are owed the ACV (actual cash value) of your vehicle prior to the loss. The 'most' money is that amount, and no more. you are to be put back in the position you were in, prior to the loss no less and no better. The "Most" Money you can get is what is considered "Fair" compensation for your loss.
Wiki User
∙ 16y ago
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How to Sue city for flood damage?
The best way to maintain a residence or business is through flood insurance. You can sue the city for flood damages, but remember, that cities have a lot more money than you do. The best way to sue the city is through a class action lawsuit.
Everyone Needs Flood Insurance?
Insurance providers offer flood insurance separate from their regular homeowner's insurance policies. The insurance companies, that offer flood insurance, provide it with its own costs and terms. Flood insurance is not mandatory for every homeowner. It is only mandatory for those who live in areas that are designated flood areas. The federal government usually designates those places as flood areas that are close to major rivers or oceans. For those people, who do not live near major bodies of water, they may purchase this insurance; but it is not required. However, it is a smart idea for homeowners to purchase flood insurance if their homes are prone to flooding from such things as excessive storms, snow or ponds, as well. Flooding can cause a lot of destruction to people's houses, and regular homeowner's insurance does not cover this damage. However, flood insurance will protect homeowners from the devastating damage that these floods can incur. This insurance will cover damage to many things including water heaters, furnaces, furniture, clothing, appliances, rugs, flooring and walls. It will also cover expenses related to sandbags, debris removal and clean-up. Flood insurance is not that expensive, and the advantages of purchasing it far outweigh the amount of money people would have to pay for repairs and replacements if they did not have it. People, who have homes in areas prone to flooding, may be eligible for a Preferred Risk Policy, or PRP. These policies protect homeowners against any damage caused by flooding. People can buy this insurance either through the National Flood Insurance Program, or NFIP, or through one of many private insurance providers. Although the government typically backs those private companies that provide flood insurance, people should always check the company's reputation to make sure they will be able to settle a claim if necessary. The cost of flood insurance varies depending on such factors as the provider that offers it, the amount of coverage people choose and the location of their homes. There are essentially two forms of flood insurance: actual cash value and replacement cost insurance. Actual cash value insurance will replace any property and/or possessions damaged in a flood minus the value of their depreciation. Replacement cost insurance will pay to rebuild people's homes to the same condition as they were before floods damaged them. One last thing, that people may want to consider when purchasing flood insurance, is excess insurance. Excess insurance will cover anything that the regular flood insurance cannot cover because it would exceed the maximum limit amounts of their insurance policies. Since it will take about 30 days, after people purchase their policies, before they will go into effect; people, who live in flood areas, should consider purchasing flood insurance as soon as possible.
In a collision an uninsured motorist was at fault who pays for the damage insurance or uninsured motorist?
The insurance will pay for your damage if you have insurance from underinsured motorists. Otherwise, the motorist will pay for it who doesn't have insurance if they have any money.
Where can I get Hagerty classic car insurance ?
Hagerty insurance gave you the right information about the car insurance they help you to reccorect your money when damage done to car as insurance try out now
What insurance companies offer fire and water damage restoration?
Most insurance companies offer fire and water damage in their policy. It's best to speak to a restoration company to get a quote to provide to your insurance company, and then use the money from the claim to hire your own restorator.
If you get your claim money for damages to your house from the insurance company and find a contractor to do the work for less can you keep the extra money from the claim?
Yes, you can keep the extra money you saved by finding a contractor to do the work cheaper than what the insurance company estimated. The insurance company prepared an estimate of the damage. If you could not find a contractor to do the work for what the insurance company estimated, you could ask them for more money. If they chose to pay you for the damage before it was fixed, they cannot ask for it back if you got the work done cheaper.
Why carry auto insurance?
First of all it is required by law, everywhere. Second we live in a society where a person is held responsible for the damage that they cause. Since the operation of a vehicle can cause a significant amount of damage, more damage than most of us can pay for out of our own pocket, we buy insurance. We trade a small, certain amount of money in insurance premium in order to have someone else, the insurance company, pay for the damage we cause, on our behalf.
If a claim is filed for hail damage and a check received do you have to repair the vehicle or cna you pocket the money?
It depends on the insurance companies' policies. If they declared the vehicle a total loss you can do what you wish with the money. If they simply gave you a check and told you to take it to a shop of your choosing you can also keep the money as well. If they make a two-party check requiring a body shop signature and yours, then you have to take it to a shop.
If you collect insurance money for structural damage to your house and it costs less to repair can you legally keep the extra money?
Yes. Most insurance companies, however, will want to pay the contractor directly to avoid this type of situation.
what is the insurance needed when renting a car?
First, if you have comprehensive and collision coverage on your own vehicle then check with your own insurance carrier to see if that will automatically extend to the vehicle you will be renting (as that would save you a lot of money). If it does not extend (and you have liability insurance) then you will need to get the rental company's property damage insurance (sometimes called collision damage waiver).
What if your parked car is hit by an insured driver on purpose?
His insurance is not valid BUTWhere I live is insurance company is required by law to pay for the damage he caused and then they may sue him for the money.
What is the cheapest car insurance you have paid?
The cheapest car insurance is call Cheapest car insurance. But cheaper is not always better and when it is going to help you with paying of damage i would spend more money to get better coverage.
