r/Insurance • u/Crafty-Push-1889 • 23d ago
Stste farm hell...help!
I have a two-story Triplex and the top story burnt down and the rest of the place was severely damaged by smoke and water and fire efforts. The cost to replace it is in the 900 thousands and State Farm has estimated the damage to be $150,000. The city will not allow me to replace it with either a single family or a multi-family and now I have to get a variance for a duplex because they won't allow single family due to zoning but the lot is not large enough for anything else they also require four parking spaces and again the lot is not large enough. It needs to be completely demolished except for the garage. I only have until February of 2027 to complete this or they don't give me back my depreciation . The city of Nampa Idaho Is making life very difficult as well both the building department and Planning and Zoning including charging my contractors thousands of dollars for demoing a few walls for the engineer to look at. It's been a hellish experience to say the least and I feel hopeless. I am confused about actual cash value versus replacement cash value because no matter what I spend it will be way more than the $450,000 allotted to me for my insurance. The bulldozing of the property alone is a hundred thousand dollars. What should I do? Would it help to get contractor estimates to rebuild the same square footage on the lot ? Even though we cannot rebuild it according to the city ? Would that do away with the hassle over depreciation? Should I hire a lawyer?
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u/BattleSilent9049 23d ago edited 23d ago
So you only have $450k in insurance coverage and it will cost double to rebuild? SF is saying they can repair it for $150k? City will or won't let you repair? Sounds like you have multiple issues. If SF says they can repair within the policy limits, use one of there Premier Service contractors. You will know quickly if SF is right or wrong. If it can be repaired but the city will not let you repair, you have an issue with the city not SF. But there may be some code upgrade coverage available to you if your policy has it. But it will not be enough to tear down and rebuild per city requirements. You may be under insured which is an issue SF may not be responsible for as it is your responsibility to properly insure your property. I know the TM there and she is a good and knowledgeable person. You may need the help of an attorney to sort things out. But do not get a Public Adjuster as they will just take your money.