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Recently had some kitchen floor damage. The flooring is laminate and flows seamlessly throughout the condo - The pattern is no longer available.
The insurance adjuster measured and calculated the replacement cost for a similar laminate in all areas - and the insurance company issued me a check for $11K (after deductible and an amount withheld for recovery/completion).
At this point, I'm thinking that I really don't need to replace ALL of the flooring - and would be happy with just the kitchen - even though this would entail a transition between rooms and would not fully match. If it doesn't look good, we could decide later to replace more of the flooring, but, for now, this works. (Not done yet).
I never suggested to the adjuster that all the flooring needed to be replaced and frankly, was somewhat surprised when he processed the larger damage claim - and this settlement came through. The kitchen laminate cost is about $2K.
Should I feel morally or ethically liable to return the difference between the actual kitchen floor cost and the broader area adjusted settlement?
Similar situation years ago, did telephone the insurance company informed them only the kitchen floor was damaged (dishwasher leaked ?). They said the dining room, family room all connected.
For your peace of mind,, I would suggest, telephone and tell them what you posted here. Then agree to their response. The representative may be surprised by your honesty.
You should keep the cost for the building supplies, then your labor cost and then keep a portion for an offering to the work of Jesus Christ, and give the rest back, and you would get a pass
Recently had some kitchen floor damage. The flooring is laminate and flows seamlessly throughout the condo - The pattern is no longer available.
The insurance adjuster measured and calculated the replacement cost for a similar laminate in all areas - and the insurance company issued me a check for $11K (after deductible and an amount withheld for recovery/completion).
At this point, I'm thinking that I really don't need to replace ALL of the flooring - and would be happy with just the kitchen - even though this would entail a transition between rooms and would not fully match. If it doesn't look good, we could decide later to replace more of the flooring, but, for now, this works. (Not done yet).
I never suggested to the adjuster that all the flooring needed to be replaced and frankly, was somewhat surprised when he processed the larger damage claim - and this settlement came through. The kitchen laminate cost is about $2K.
Should I feel morally or ethically liable to return the difference between the actual kitchen floor cost and the broader area adjusted settlement?
My thought is that you were paid for damage to the home, your investment. If there is ever a future issue, the insurance company is going to expect that floor to have been replaced. They may not pay out again for awhile on the rest of it.
And in the meantime your rates probably go up.
This is a business transaction. You're going to pay for it eventually in some way.
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