My tenants caused a garage fire that totally destroyed the detached garage. My insurance which is replacement coverage had a limit for other structures (the basic 10%) that is much lower than the RCV and even somewhat lower than the ACV. The tenants renter's insurance agrees to the liability but will only pay the ACV directly to me or to my insurance company through subrogation. My insurance company ACV is higher but they will only pay to my limit which interestingly enough is almost exactly the total ACV according to the tenants insurance estimates. If I settle with either at this point I get about the same amount and much less than what it takes to replace it. What can I do to get more. Can I take the tenants insurance companies ACV payment and file at claim to my insurance for the difference between RCV and what I was paid by the tenants insurance since my insurer covers me for replacement? other options?

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.