Homesite Insurance Company of the Midwest Geico Insurance Co. They cheated me out of my homeowner's claim for roof damage. Binghamton New York

it isn't deceptive.  The policy is not a full replacement value policy - accordingly, it doesn't need to contain the wording you think needs to be there.  It isn't fraudulent in the least for all of the reasons I already told you, but to remind you...since it isn't a Full Replacement Policy subject to a deductible, there is no reason for the clause about unrecoverable depreciation - since that is implied in the policy.

In addition, the number of years you happen to be a customer is irrelevant and earns you nothing.  Nobody really cares how long anyone is a customer, especially with an insurance policy.

My primary gripe is that the endorsement is deceptive and confusing,misleading to an average consumer,who would not suspect that NRD clause,which is nowhere to be found in the policy or endorsement itself.

Based on my good history with both Geico and Homesite, they should pay me based on good faith.  Let's see what the State of S.C. feels about this deceptive policy writing.

It's pretty standard to have the adjuster base payment back to you for the undepreciated cost of the roof, especially for a composite roof.  In such a situation, the adjuster evaluates the information, some of which you provided, and some of which is assessed by the adjuster.  The undepreciated cost of the roof isn't as simple as taking the age of the roof at 14 years and dividing it by the 30 year rating because the assessor may determine the roof may have a remaining life of more than the remaining 16 years, or less.

My policy endorsement states "if the age of the roof at time of loss is 10 yrs. old it will paid at replacement cost WITHOUT deduction for depreciation"  So it sounds like the insurance policy for your home is full replacement value (subject to a deductible) for the 1st 10 years of the life of the roof.  After the 10 year period, the FRV portion goes away, and replaced by what is called ACV, or actual cash value, which would be subject to unrecoverable depreciation.

The insurance policy would have to have been a full replacement value policy WITHOUT the clause for the 1st 10 years.  In fact, you probably needed to reevaluate your insurance policy AFTER the 1st 10 years and evaluate whether you needed to update your insurance.

My neighbors all received payment for their similar roof damage claims with the normal deductibles but witout deduction for the deceptive NRD deduction.  You assume the home insurance they had was the same as yours and did not update their insurance somewhere along the line.  I would not make such an assumption.  Not all policies are the same.

A policy does not have to specifically state that there will be non-recoverable depreciation - it is actuallyinferred in your policy with the 10 year FRV clause.  It's unfortunate for you, BUT it sounds like they're paying in accordance with your policy....