What percent will I get on Total loss on dwelling but not rebuilding?

From policy to policy, depending on which one you are insured by, several factors may alter the outcome of your settlement on the total loss of your property. If the damage occurred without fault, such as, fire, flood, earthquake, or any other natural disaster. Matters will be taken to insurance policy limits regarding your particular policy. Keep in mind, any claim for total loss, can actually cost less than attempting to rebuild or repair damages on your own. Any loss which is less than or equal to $500, shall be paid in full to the homeowner, if insured. Also, by chance that you have lost your checkbook or credit cards in the devastation of your home, your bank must be notified.

If you have a mortgage, and are 100% covered by your insurance for all assets involved in the loss, everything shall be recovered. You will begin to receive payments from your insurance company. However, in the case that you are not fully insured to the total cost of all assets, only the amount you are insured for will be recovered. When it all comes down to the final settlement, total damage costs to your property will be calculated. Therefore, if the total cost of damage exceeds half of the limit of the insurance policy covering your home or building, the insurance company has the right to withhold 25% of the total dollar amount of your final settlement.