Legal Question in Insurance Law in Nevada

Re: bad faith

How much you owe is totally irrelevant to the replacement cost of the property. Would you have expected to get more or less if you owned it outright? If that had been the case, your "replacement cost" coverage would still have paid the replacement cost, or the value of returning the property to its condition prior to the calamity. The formula for calculating replacement cost is, after all, what it would cost you - if you were uninsured - to repair or replace your property and be returned to the economic position you held prior to the loss. If your insurance company did, indeed, pay the actual cash value of your property, how were you injured in this matter? I am failing to see how "replacement cost" does not equal "actual cash value."

If there is more to this equation than you are revealing here, I would be happy to discuss it with you and see if there is something more you can get to compensate for your loss.

Rick D. Williams, Esq.

Sparks

775-358-1958