On complete fire loss. What categories of money can be used to purchase property at another location? If the following appraised award was : Dwelling $500k, Other structures $100k, Code upgrades $100k. If the replacement home's selling price is $700k and was built in 2010 and therefore does not contain any code upgrades that were awarded by the appraisal process. 1) Is the insurance company obligated to let me use the $100k in code upgrade coverage as part of the purchase price of the replacement home if I don't install any upgrades? 2) The cost of the land is included in the $700k replacement home. Is the insurance company allowed to deduct the cost of the land value prior to providing the final award. (for example: Since my dwelling and other structure award was only $600k combined. Is it appropriate for the insurance company to concluded that land value to be $200k on the replacement house and therefore the dwelling and other structures only total $500k. Therefore there is no obligation to award the $100k for other structures?

About The Expert

Amy Bach

Amy Bach has been a professional advocate for insurance policyholders since 1984 and an attorney since 1989. She co-founded United Policyholders in 1991 and serves as the organization's Executive Director and primary spokesperson; shaping and overseeing the Roadmap to Recovery™, Roadmap to Preparedness, and Advocacy and Action programs. She is a nationally recognized expert on insurance claim and legal matters; frequently interviewed in print and broadcast media, and the author of numerous publications including "The Disaster Recovery Handbook", "WISE UP: The Savvy Consumer's Guide to Buying Insurance" and consumer tips and guides in the UP Claim Help Library.  Recognized by Money Magazine as a Money Hero, Bach is in her eighth consecutive term as an official consumer representative to the National Association of Insurance Commissioners, and is a member of the Federal Advisory Committee on Insurance.