How and when will our claim be paid?

The amount of time required to handle each claim varies based on the severity of the damage and other factors.

We will pay your claim, or replace or repair your covered property as soon as the damages have been properly, documented and/or an estimate has been prepared for repair, or replacement of your building. Our adjuster will reach an agreed upon price with your contractor. We will pay the fair market value upon receipt of this estimate (subject to the policy’s coverage and deductibles).

If you have replacement cost coverage, which allows for the cost of replacement without deduction for depreciation, we will pay the difference between fair market value and replacement cost as soon as construction is completed or personal property is replaced.