We're dealing with form MCP 010 01.

In regards to time to collect the recoverable depreciation the policy states:

"b. We are not liable for payment on a replacement​ basis until you complete repair,​ replacement, or​ restoration of the subject property.​ ​ You may submit a claim on an actual cash value​ basis and then, no later than 180 days following​ settlement on an actual cash value basis (or our​ offer of such if you decline settlement), make​ further claim in writing on repair, replacement,​ or restoration which you have completed at the​ time you make such claim."