What is “Actual Cash Value” and “Replacement Value?”

If your home was recently damaged in a hurricane, water leak, fire, or other incident, you may be wondering how much your claim is worth. However, before you speak to your insurer, do you know the difference between actual cash value and replacement value? While the actual cash value or ACV may sound like the more enticing offer, it rarely is. If you are unsure about how to proceed in filing a claim, an attorney can guide you through the process and help you sidestep any legal pitfalls along the way.

Florida Property Damage FAQs

When your property is damaged because of the negligent or reckless behavior of someone else, it costs you money and time. You probably have some questions about how to pursue fair compensation for your losses. Here are some of the most frequently asked questions and answers about property damage.

How Long Do I Have to File a Hurricane Claim in Florida?

When a hurricane destroys everything you have worked so hard to achieve, an insurance settlement can mean the difference between rebuilding and finding a new home. However, with experienced legal help, you can fight back against insurers and obtain the money you rightfully deserve. But, in order to file a successful claim, you need to act quickly. In fact, according to Florida statute 627.70132, if you wish to file a claim, supplemental claim, or reopened claim under an insurance policy for property damage caused by a hurricane, you must do so within 3 years of the date that the storm first made landfall.

Hurricane Irma Insurance Claims

When Hurricane Irma hit Florida on September 10, 2017, it was classified as a Category 4. The storm caused catastrophic damage to houses and commercial structures alike, knocking out power for millions and flooding coastal cities. Wind levels were between 130 and 156 miles per hour and even the sturdiest structures experienced roof and structural damage. If your home was affected by Hurricane Irma, an insurance settlement can help you make the necessary repairs.

How to File an Insurance Claim After a Florida Hurricane

Part of living in Florida is learning to live with unpredictable and sometimes frightening weather. With wind speeds capable of reaching more than 156 miles per hour, hurricanes are devastating acts of nature that can destroy buildings in a matter of minutes. If your home was damaged or destroyed during a hurricane, you may feel homeless, uprooted, and lost. However, an insurance settlement can help you repair, rebuild, and start a new life. Here are a few tips on filing a Florida insurance claim after a hurricane.