Actual Cash Value vs. Replacement Cost
Posted on May 27th, 2010
Let’s speak one on one: Rami Boaziz 305.467.5645
Knowing the details is very important to any insurance claim. These policies are complex and so is the claim process, a public adjuster will simplify the matter giving you a clear understanding. One of the most common questions is the bottomline when it comes to how payout is determined. A hot topic on this point is the differences between actual cash value vs. replacement cost.
The actual cash value is a formula that calculates the difference between purchase price and depreciation. Replacement value points to the cost of replacing an item of similar likeness in today’s market. This type of difference can mean a lot when it comes to money you receive. Your public adjuster will help guide you through this detail and determine if a policy change might be necessary or how recovery should be calculated based on your specific claim.
You can read more about Actual Cash Value vs. Replacement Cost or call Rami Boaziz 305.467.5645 and ask your questions directly.
Tags: actual cash value, replacement cost
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Hurricane Season Around the Corner
Posted on May 10th, 2010
Rami Boaziz, 305.467.5645, is here to help with your insurance claim process. Soon, South Florida’s hurricane season is approaching and we’re all hoping for a clear summer. However, it’s advisable to prepare in the event you find yourself making a claim to your insurance company for hurricane damage. If you don’t already have coverage, get it quick. You cannot make a claim for hurricane damage without the proper coverage.
The types of damage during a hurricane can vary – minor and major. Most people can correctly categorize major damage – a roof being torn off, tree falling on a car, or flooding. However, minor damage is often mistakenly identified and what appears to be minor is actually a major damage to your residential property, commercial property, or vehicles. The water absorption that can occur in the walls, floor and roof are often not visible and might reveal themselves months from the time of damage. It’s best to vigilantly identify the inconspicuous damage before it continues to cause damage.
The fact of the matter is that most people cannot properly recognize when something minor is actually serious damage. Rami Boaziz, South Florida Public Adjuster, has the skill, experience, and knowledge to properly distinguish various types of unassuming hurricane damage. The best way to prepare for this situation is to meet with Rami before you find yourself in a tight spot. This way you can have a clear understanding of the process in the event a hurricane hits your area of South Florida. The more educated you are the better and the earlier you take steps the smoother the entire process will unravel.
Hurricane damage to commercial real estate is often a major issue in South Florida. It not only leaves damage to the physical structure of the commercial property, but has negative consequences to the businesses that occupy the commercial space. In a situation like this, time is of the essence and the quicker the claim is dealt with the smoother the recovery. This is why it’s worthwhile to know who you’ll call when necessary. Rami Boaziz, looks forward to speaking with you to further explain the hurricane claim process.
Tags: Hurricane Damage
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