Ameriprise home roof claim
I got an amount back from Ameriprise home insurance for hail damage to my roof. They gave the following amounts
Estimated cost = $8229
depreciation = $1321
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subtotal = $6908
minus deduct. = $1000
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amount mailed=$5908
The insurance rep. said I would receive the "depreciation" amount after I send in the roofing company's estimate and depending if the difference is smaller than their depreciation amount I would get the smaller amount, or if it was over the depreciation amount they would review what the cost difference is.
My question is this a "normal" process in most insurance companies to withhold the "depreciation" amount from the total cost of the estimate on the claim?
Thanks,
Paul