I thought this would be a popular question but I haven't been able to find any similar posts. Perhaps I'm wording my searches wrong?
When you have car insurance and the car is damaged, generally when the repair bill exceeds 50% of the total value of the car the car will be written off and the insured value will be paid out.
With house insurance is there anything similar? At what point would they look at the damage bill and decide that a rebuild would be better than a repair. I would expect the cost to be a much higher percentage than car insurance.
Say a home is insured for $350k would they still repair at 200k or 300k before settling a sum or KDRB?
How much damage to a house before insurance decide to settle
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27/02/2024
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DIY, Home Maintenance & Repair
The workmanship is lifetime guarantee by "the insurer", not the builder. They will of course ask the initial builder to rectify and if they don't they will appoint…
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there was an event. The question is whether the builder had the insurance and whether the event was covered. The workmanship is a separate conversation.
13/05/2024
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Hello everyone, Not sure if I'm posting at the right place. Let me know if I need to move this post to somewhere else, otherwise please help if you can. > Mirvac built…