Insurance Flood Replacement Offer

INSURANCE FLOOD REPLACEMENT OFFER

Insurer Name:   Policy Number:

Client Name:

Claim Number:   Date of Loss:

Property and Loss Location

Offer Summary

Offer to Replace Damaged Property in Accordance with Policy Terms: The insurer proposes to replace or repair covered flood-damaged items described below for the total replacement offer amount of $, less the deductible of $.

Offer Expiration Date:   Estimated Completion Period:

Advance Payment: $   Balance on Completion: $

Payment Method: Check to Insured Electronic Transfer Check to Mortgagee/Loss Payee

Replacement Scope — Covered Components

The insurer will provide replacement or repair for the following covered components as indicated. Coverage is limited to necessary repairs to return affected components to pre-loss condition, subject to policy limits, applicable depreciation, and specified exclusions.

Structural and Building Systems Structural repairs (walls, roof, framing) Foundation and support systems Electrical systems Plumbing systems HVAC systems

Interior Finishes and Contents Floor coverings Cabinets and built-ins Built-in appliances Personal property replacement (subject to sublimits)

For each checked component, provide estimated replacement amount (if applicable):

Conditions of Offer

Acceptance of this Offer constitutes a binding agreement on the following conditions:

1. All repairs must be performed by properly licensed contractors and in compliance with applicable building codes. The insurer may require copies of contractor licenses and permits prior to payment.
2. Payment is subject to verification of loss, receipt of itemized invoices, and proof of completion. Recoverable depreciation, if applicable under the policy, will be paid only upon receipt of final invoices and satisfactory inspection.
3. The insured shall permit reasonable inspection of the property by insurer representatives prior to and after repairs. Failure to permit inspection may void payment obligations under this Offer.
4. The insurer reserves subrogation rights against third parties and will retain any right to pursue recovery; acceptance of payment may require execution of a limited release and assignment of subrogation rights to the insurer as set forth below.
5. Salvage remains the property of the insurer unless otherwise agreed in writing. The insured shall not dispose of damaged items without prior consent if salvage value is contested.

Exclusions and Limitations

This Offer excludes or is limited with respect to the following: mold and fungal remediation beyond immediate flood drying unless specifically covered by the policy; loss caused by sewer backup that is not specifically endorsed; preexisting damage or wear and tear; ordinance or law upgrades except as specifically stated; consequential losses such as temporary housing beyond policy limits; and valuable articles subject to separate sublimits.

Beneficiary / Loss Payee / Mortgagee (if applicable)

Claim Documentation Checklist

The following documentation is required to process payment. Please indicate which have been provided.

Certification, Release and Acceptance

By signing below, the insured certifies that the information provided in support of this claim and Offer is true and complete to the best of the insured's knowledge. Acceptance of payment under this Offer shall constitute full and final settlement of covered loss items specifically identified herein, subject to any named exceptions or retained rights expressly documented in the final release.

The insured acknowledges that acceptance may require execution of a release and assignment of subrogation rights to the insurer. The insurer's obligation to pay is conditioned upon receipt of required documentation, applicable releases, and compliance with the Conditions of Offer above.

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