It is now after Ike.Lots of people would make claims, then never fix their roof, etc.Needless to say when the next storm came along, the issue that wasn't fixed would need to have another claim made. Â So the insurance companies stopped paying for these claims unless the homeowner could prove that the issue had been repaired the first time.Along with this came the 1% and 2% of the property value as the deductible in named storms.
@Fallon: Correct, and the way carriers pay claims is they pay Actual Cash Value up front (take out depreciation), and will not pay Replacement Cost until you can prove you took care of the loss, normally a paid a receipt but also come out and do inspections, Normally can be a big difference between the two figures, depending on the age of the home.
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