I have USAA, generally regarded as an outstanding insurance company.

I had an item stolen a few years back. After my deductible, they
covered the cost of the item (nice road bike) MINUS depreciation based
on age and wear/tear. They reimbursed the depreciation only if I
replaced the item, not if I just took the cash payout.

Could be similar for cars.

TURTLE wrote:
"Joshua Putnam" wrote in message
...

In article ,
says...


You have me on this one. What would the reason you was going to do with the
replacement truck or if you was going sell it after they pay you for it or
fix
it. I have never hear of any section on a insurance policy as to what you was
going to do with a auto after you have been reinbursted for it and would make
any difference in the price you would receive for it.

It won't matter for most car insurance policies, they're generally
settled at Actual Cash Value.

Other forms of insurance, e.g. homeowners insurance, often pays
replacement cost if an item is replaced. e.g. if your 50-year-old house
burns down, Replacement Cost coverage would pay to rebuild the house.
But if you don't rebuild, your cash payment is limited to the
depreciated Actual Cash Value of the house that burned. (The insurance
company doesn't want you burning down the house for the cash, after
all.)

--
is Joshua Putnam
http://www.phred.org/~josh/
Updated Infrared Photography Gallery:
http://www.phred.org/~josh/photo/ir.html


This is Turtle.

I think your making a moutain out of a mole hill here. If the house burns to the
ground you get a estimate from a contractor to replace the house as it was and a
estimate to replace the content. You give that figure to the insurance company
that is the amount of the check is to be written to you minus the deductiable
amount. No insurance company has the right to tell me if I replace the house,
buy a new one down the block, higher or lower price house with the money , or
wait 2 or 3 years before I do anything with the money. Now you might be talking
about some fly by nite insurance companys like All State which will try to hold
the money back and wait to see what your going to do but if you have a lawyer
send them a letter explaining your going to wait and just buy a new home when
one comes avaliable on the market. They have 2 choices here. Be in court -- pay
all lawyer fees, and 8% APR on the funds during the court time to settle it. or
Pay Up. There is so many options as to what you would do that if they was able
to tell you what the price would be in different cases. Then they could start
telling you what house and contractor your going to use and take over the
bidding on the new house and also if you was going to buy a new house already
built they would sellect the realestate company to use and tell you what price
you would pay for the new one and not ask you nothing as to if you like it or
not. It just does not happen this a way.

Now let me tell you what your talking about and it is true as to what you say.
It is if you have a '' repair '' to your home by wind , fire, smoke, or storm
damage and it was not a totaling of the house but just a percent damage and not
a total pay out. They will pay a good per cent at first to start the repairs and
when you show the repairs was complete , they will pay the full price or
estimate of the repairs. This policy is done by insurance company to make sure
the repair was made and they would not be insuring a half damaged house in the
furture. It does not apply to total burn downs and total losts.

TURTLE