What do we need to do? Agent lied, adjuster yells and cusses us.
Question Details: Our house burnt August 1 09, we went to our agents office and he told us we would recieve our full insured amount for the house because they do not depreciate the dwelling just the contents. Then the adjuster called and said we would only get 128,917.62, which is $30,000 short of our limit. He then sent me a 14 page letter on how he got that number, he used ever cheap material possiable. Also our house was only 5 years old. When went to the man who built our house he said it would take 180,000 to build it back just the way it was. Our agent said he did not know state farm had changed it policy
Insurance Law Law Answers
I am not admitted in Oklahoma. I am so sorry that you have to deal with all this after you lost your home.
While it is upsetting that your agent did what he did in a way it will help you in the long run. You need to take your policy and his letter to an attorney to evaluate for you. You need to get an estimate to rebuild as well. Remember that "replacement" cost does not mean that it has to be the same exactly as that which was lost, but why you are getting less than what you insured for is difficult to say without reading all the documentation. What your agent said about the change is important as well. Did you get notification of changes in coverage?
You may also want to file a complaint about your agent directly with the insurrance cpmanies home office and with your state insurance department. Good luck.
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