Our home was damaged and likely totally destroyed in the May 2024. Our insurance company had an engineer to come out yesterday, who just told us not be let anyone on the roof but really couldn't give much more information at that time. We have "Replacement Value of dwelling up to $351,900, increased dwelling $70,380 and personal property up to $263,925. I do not understand a few things about this process but one is…
Where do the cost of tearing down our house come out of if the home is required to be tore down?
If they do declare our home as a complete loss, what amount will we get? We have maximum moisture in all rooms, even the ones that was left with a roof attached. Will the insurance company be required to fix the entire home?
Posted by Unhappy-Meal1259
1 Comment
You should get a copy of your full policy and begin reviewing it. Your full policy may be 20 to 50 pages long and it contains very important information.
What type of loss did you incur that would require the complete demolition of the home?
Generally, your policy limits will include debris removal of property damaged by a covered loss.
Demolition of property not damaged by a covered loss will be included under your Ordinance and Law coverage at 10% of the amount your home is insured for. So in your case, $35,190.
So for example, if a tree fell through your roof and damaged the structure where the entire building had to be removed, the area damaged by the tree would be covered under debris removal, but demolition of other parts of the home still standing, undamaged, would be under the Ordinance and Law limit.
Your claim adjuster will be able to discuss your specific loss and what the next steps would be. Sending out a structural engineer to complete a report is a normal step whenever there might be structural damage.
Complete demolition isn’t common but every claim is different.
The most important thing is don’t panic. You’ll get through it. It will suck dealing with the claim, but just keep reminding yourself that you’ll get through it.