What's the difference between my deductible and depreciation?

Homeowners often confuse these two, but they’re completely different.Your deductible is your out-of-pocket portion — the amount you’re required to pay toward the claim per your insurance policy. It’s non-negotiable and fixed.

Depreciation, on the other hand, is money withheld by the insurance company temporarily until the work is completed. Once Faraday finishes the job and submits proof, that money comes back to you as part of your recoverable depreciation check.

Here’s the key difference: you don’t lose depreciation — you earn it back when the project’s done. Faraday ensures you get every penny by handling all closeout paperwork with precision.

We’ll also help you understand your deductible obligation clearly upfront, so there are no surprises later. Colorado law prevents contractors from “eating” deductibles, and we operate transparently within those rules while still helping maximize your total payout.

With Faraday, your financial side of the claim is crystal clear — no confusion, no games, and every dollar accounted for.