If your claim is accepted, payment will depend on the extent of damage and value of the property. If the property can be repaired, KEC may pay the cost of repair. If the property cannot be repaired, KEC will generally pay reasonable market value for the property at the time it was damaged, or the depreciated cost to replace the property, whichever is less. KEC reserves the right to solely determine whether the damaged property is subject to repair. Any such determination shall be made in KEC’s sole and absolute discretion. In the event any payment for damages is forthcoming, the claimant may be required to execute a written release. Any refusal to sign the required release form shall result in a delay of payment. KEC strongly urges you to check with your insurance carrier prior to submitting your claim to KEC, as your insurance coverage may provide greater compensation.
