I asked my insurance adjuster that ACV is very low and I cannot restore with the ACV . Probably it could be possible if I could get RCV now. Adjuster told me to submit estimates from contractors. I collected 3 estimates. I want to know the format how I will submit these estimates. My depreciation is about $50,000 which I cannot pay from my pocket now. It seems contractors will not be happy if I say i will pay later once I will get the RCV. I checked my policy which is RCV. For my personal property is possible not Coverage-A.
New York

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.