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By CondoAssociation.com • August 14, 2020

How to argue replacement value to insurance adjustor?

My 2nd floor condo flooring was damaged due to support beam removal when 1st floor condo remodeled. The HOA attempted to correct by shoring up with a new beam, however there is still a 3 inch fall meaning the floor is not level. The first floor unit's insurance has agreed to pay for new flooring in my condo after the HOA corrects the subfloor which is the HOA's responsibility.  I personally paid to have my hard flooring removed so the HOA could do their part and get this going.Here is my problem and concern.The insurance adjuster provided an estimate stating they would only pay AN ACTUAL CASH VALUE which is about $1200.00 less than the quote I received from the local flooring store.  They claim this is a result of 5 years depreciation plus AVC. In addition my condo which is a 2nd home is not livable now for an estimated 7 to 10 days. The insurance person said there is no value or reimbursement allowance when a visit to pay the flooring contractor and check on things. I went into this thinking I would not pay anything now it appears my out of pocket is about 25% of this cost. This actually happened in Sept 12 and posted about this a few months ago. Any advice in communicating with this insurance person is appreciated.

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