What is the replacement cost value of my classic brown dress shoes? How would you go about determining their actual cash value? You can see them in the photo above along with some Sperry Topsider shoes I have yet to take out of the box. As I am writing this post, I am looking at my Weber gas grill which has been getting a workout since our social distancing started. What questions and considerations should be made for that item in a property insurance adjustment? How are those questions and considerations different when considering replacement cost value and actual cash value if the damage were to real property? What are the considerations if the loss were to a commercial insured rather than covered under a personal property insurance policy?
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Depreciation of labor when determining actual cash value is being raised in cases throughout the country with mixed results. In,
Tennessee Tornado Terror and The Insurance Claim Aftermath, I noted that Tennessee recently ruled labor will not be deprecated for tornado policyholders. So, what would be the result if those tornados had gone slightly east and hit North Carolina? Does North Carolina allow insurance companies to depreciate labor of a structure to arrive at actual cash value?
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Property Damage attorneys will occasionally run into dispositive motions filed by Insurance Company attorneys looking to dismiss the lawsuit based on the following language from the policy’s loss settlement provision:

We will pay no more than the actual cash value of the damage until actual repair or replacement is complete
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A class action lawsuit filed against Allstate in South Carolina raises the newly raised practice by some insurers of depreciating labor when repairs are made.1 I thought that the lawsuit was very well plead and was surprised to see citations to a law review article written in part by public adjuster Don Wood, and another citation to the Property Insurance Coverage Law Blog.
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The recent blog post, My House Has Suffered Water Damage, Am I Covered? suggested to hire a licensed public adjuster, or an attorney if the claim was denied, to help you with a water loss claim. This led me to question, “how anybody would find a quality public adjuster or attorney?” The common answer in today’s computer age is to “Google” a phrase like “water loss in home public adjusters and attorneys.”
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