DIYbanter - View Single Post - Insurance claim check with my name and bank

Kurt Ullman

In article om,
wrote:

Given the size of the claim, the three clustered estimates, and the
enormous amount of claims to be settled in Indiana this year, the
insurance company is not going to get involved any more than it has to.
I believe the check is meant to make you whole. It's up to you to
arrange construction. Your mortgage lender has nothing to do with this
except they have a vested interested in the preservation of your
property's value.

For those of you playing at home, look carefully at the claim
paperwork. I had a thing on my claim sheet that something like deferred
depreciation. That was the hold back to make sure I actually did the
work. After submitting copies of the invoices, I got an extra couple
grand. Nobody bothered to tell me about at the Insurance Company
(probably hoping I would overlook it and they would get to keep, or so I
would think if I was bitter, cynical man-grin). This was for a new roof,
so they may look at this differently.

It may be that if you can get the wall built for 7500 you may get to
keep the rest, or you may have to give it back. Morally, you should
give it back. I would wonder why the one estimate is so low, they just
had a Holmes on Homes show where the contractor who built a retaining
wall did ot wrong and used undersized brick, so you get what you pay
for !
I wouldn't necessarily say you were morally obligated to give it
back. You are morally and probably legally obligated to at least let
them know. I would have to agree with you that I ALWAYS look at low-ball
bids with a very jaundiced eye and would definitely want billions and
billions of references, check in licensing people, BBB, probably do a
court records search, body cavity search, etc. Too good to be true,
generallly is.