01-17-2017, 04:22 AM
future of the Luquin's/Akebno structures is not "up to the insurance companies,"
If the building is merely insured for its assessed value, that amount will not be sufficient to rebuild.
If the building is insured for actual replacement cost, expect the insurance company to dispute that valuation and/or the validity of the claim, which process can be dragged out until it's too expensive/difficult.
Should your car catch fire and is a total loss do you think your insurance carrier tells you what car to buy?
Choice of replacement vehicle is impacted by insurance settlement: I can't afford a 2011 CRV if the insurance company only pays out enough for a 1993 Civic, even if I am technically buying a Honda in either case.
A "concrete corporate monument?"
Yes, if they're the only ones with enough money to rebuild, then it's that or an empty lot.
If the building is merely insured for its assessed value, that amount will not be sufficient to rebuild.
If the building is insured for actual replacement cost, expect the insurance company to dispute that valuation and/or the validity of the claim, which process can be dragged out until it's too expensive/difficult.
Should your car catch fire and is a total loss do you think your insurance carrier tells you what car to buy?
Choice of replacement vehicle is impacted by insurance settlement: I can't afford a 2011 CRV if the insurance company only pays out enough for a 1993 Civic, even if I am technically buying a Honda in either case.
A "concrete corporate monument?"
Yes, if they're the only ones with enough money to rebuild, then it's that or an empty lot.