| Author |
Message |
Frenchie Boy
| | Posted on Saturday, June 03, 2000 - 10:23 am: | |
Hey Ghost, go work claims in Quebec for 6 months and see if you don't develop a little disdain for them too! |
Ghostbuster
| | Posted on Saturday, June 03, 2000 - 10:10 am: | |
This is yet another prime example of just how spoiled rotten we Americans have become. Could it be that the rest of the world, particularly the French, have a reason for their disdain of us? |
Ghostbuster
| | Posted on Saturday, June 03, 2000 - 10:09 am: | |
This is yet another prime example of just how spoiled rotten we Americans have become. Could it be that the rest of the world, particularly the French, have a reason for thier disdain of us? |
David P Bennett (Whitey)
| | Posted on Saturday, June 03, 2000 - 8:23 am: | |
Depreciation: This has always been an ongoing area of discussion. The question answered by most courts is that labor itself does not depreciate but materials do. Also, it has been argued successfully that depreciation to repairs is not valid. Whereas depreciation to the replacement of an item is.
The kicker, is how the item being replaced is priced by the industry. If the item is priced as a unit cost, e.g. Roofing 85.00 per square. Then the entire unit is generally depreciable. If the item is priced seperately e.g. labor 35.00 materials 50.00. Then you are safe depreciating just the material item.
The application of depreciation really depends on how the unit is being priced in the open market and of course, reasonable depreciation must be applied to each item seperately. Blanket depreciation applications, will generally always get you in trouble. |
Russ Lott (Russ)
| | Posted on Saturday, June 03, 2000 - 8:06 am: | |
John , are these in valued policy states? |
John Postava
| | Posted on Friday, June 02, 2000 - 9:37 am: | |
Possible Litigation Alert!
It has come to our attention from several of our Carrier clients have been involved in court cases over issues regarding ESTIMATE DEPRECIATION in several jurisdictions. Specifically, plaintiff attorneys have argued (successfully) that depreciation/betterment may only be applied on the MATERIALS portion of an insurance claim repair item.
For those of you that have been working this year, have you come across any issues regarding the application of depreciation? |
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