We had a fire and need to replace our cabinets and floors. I get that the insurance will pay a depreciated amount first, then cover the rest after installation (the difference between depreciated and replacement value).
Here’s what I’m wondering – if we go with upgraded cabinets, how will they calculate what’s left to pay? Should I get quotes to show the closest match? I’d like taller cabinets and drawers on the bottom instead of doors. And for the flooring, if we switch from carpet to LPV to match the living room, will they cover the extra cost?
Our contractor gave an estimate with similar cabinets and flooring. They tested our LVP, hardwood, and carpet to figure out a budget. If we chose upgrades, we paid the difference. We went from 30" to 42" cabinets, and it was about $1500 extra. We also changed the family room flooring from carpet to hardwood, covering the difference ourselves.
@Jaden
That sounds exactly like what we’re planning for our cabinets! My contractor suggested I go look around for ideas, so I guess it’s time to make some choices. Wish I’d known more going in; I feel like I’ve made some rookie mistakes (like cleaning the floors myself instead of just documenting).
@Jaden
And yeah, it’s definitely not a club anyone wants to join. We’re just really grateful it stayed contained to the kitchen – our alarms saved the day. Basic smoke detectors wouldn’t have been enough since we weren’t home at the time.
Cruz said:
Have they given you an estimate yet? It should show how they calculated the payment.
If you do go for an upgrade, they’ll cover up to the estimated amount, and you’d cover the extra cost.
Not yet, but now that you mention it, I feel silly for not thinking of it! They’ll give me part of the value first, then cover the rest once I show it’s replaced. Thanks for clearing that up!