Recoverable Depreciation for Third Party

[insuranceblues]

What is the name of your state (only U.S. law)?
Maryland

I had a counter top installed and during the process the workers went to turn off the water and broke a pipe causing water damage to the kitchen and lower level of my home. I filed a third party liability claim against their insurance company. Their adjuster provided an assessment of the damage and has indicated that the claim will also reflect replacement cost value LESS depreciation. On the assessment this is referred as 'Total Recoverable Depreciation'. In order to receive this money back the adjuster has indicated that I would need to file a claim with MY homeowners insurance policy to recoup the cost. Is this also standard procedure for a third party claim of this nature?

I thought that RD cost will be given to me after I provide proof of repairs.

 

[ecmst12]

It is standard for third party claims to pay for only the depreciated value of the items that were damaged. And if you have replacement cost coverage on your homeowners policy, it will cover the difference. If you do NOT have this coverage, you will have to pay out of pocket. Making you whole means paying for what was damaged - not replacing used items with new ones which would make you BETTER then whole.