Aug 23 2010
Fire Estimates
Fire estimates are a valuble tool in determing broad evidence on homes that are total loss. Insurance companies generally pay actual cash value on homes and buisnesses when insureds do not want to rebuid and that generally means market value. The State of Michigan allows the use of fire estimates on a broad evidence rule to determine actual cash value. A soundly written fire estimate will insure a greater settlement on broad evidence and will also give an insured more money to work with if they have a loss in which there is an interest to repair.
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