Posted on 09/11/2005 10:22:33 AM PDT by WestTexasWend
Hehehehehehe.....
In Florida one of the common practices of the insurance industry was to calculate depreciation into the replacement value of a home's loss. This was seen especially with roof loss claims. Lets say it would cost you $8,000.00 to replace the roof. The insurance company says sorry your roof was a 11 year old roof it was only worth $2,000.00 so here is your check and good riddance. Never mind that you could not replace your roof with the same materials and/or methods of construction because of new codes and increased construction costs. Never mind the premiums you had paid out year after year. That is just one example of the tactics and delays by the insurance companies. They cry poor mouth but never mention all the decades of not having to pay out claims. Where did that money go?
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