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Property / Liability Edition
Like auto physical damage claims, your insurer must inspect your damaged home or belongings before you receive a settlement check. Most homeowner's property claims are settled as actual cash value, at least at first.
The insurer depreciates your damaged items according to their age and condition at the time of loss. If you have a replacement cost endorsement, submit receipts for your replaced items to your insurer and it will give you supplemental checks for the balance above what you had already received.