![]() Have questions about insurance coverage for your business? Head to our Find An Agent page to connect with a licensed insurance expert in your area.“The basic premise of traditional property insurance is the concept of indemnity. This scenario represents replacement cost. Once all building repairs are completed, you can submit your final repair invoice and become eligible for reimbursement of any depreciation that was withheld from the initial claim payment. ![]() The initial claim payment would be Actual Cash Value. A repair estimate will be written, and we apply depreciation to materials such as a roof or siding based on age.
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