If the check is large and you have a mortage:( the money goes to the mortage company to assure the property doesnt go down in value.
This involves perodic inspections during repairs, photos of work to prove its been done to code etc etc etc.
a real PIA.
for 500 bucks they may just cut you a check:) but if its a lot of money theres a long list of requirements so you cant just get the check and go to vegas:(
-------------------------------------
Total claim is about $10k. Check was issued for about $7.5k, with the remaining released when the job is complete.
Yeah, the back of the check.
Seems to me you had the answer to your question all along. From the initial post, it sounded like the insurance company had paid off the full claim and you had the money. If you don't repair the siding, then you aren't going to get the additional $2.5K.
If you can find someone to do both the siding and roof, they might have some lattitude in how much cost they assign to each.....
Which is one GOOD reason slate roofs are very uncommon in the American mid-west and south (and actually MOST of North America.
That may be the way it works in the USA, but here in Canada they pay for the authourized repairs unless they give you a "cash settlement".
In the case of a car, the car is not insurable untill the repairs are done (third party liability, possibly, but collision or comprehensive, no way) A car that gets "paid out" is generally branded as a "total" and requires an extensive inspection to put it back on the road and have it insured.
You COULD be opening yourself up to charges having the insurance company pay for one thing while getting another - consult with a legal professional or insurance professional in your state.
Then you need to replace the siding.
snipped-for-privacy@snyder.on.ca wrote in news: snipped-for-privacy@4ax.com:
Personally I have gone the opposite route. Damage (self-inflicted) on the car went unrepaired and a new insurnce company now knows the condition of the car. No money changed hands at any point. But I think your comments were directed more at the OP.
I would have the insurance oney replace the siding ADD INSULATION! and try to have the roof replaced at that time too.
You might check with your states insurance commision, if all the other same age homes were approved for roof damage, the insurance commision MIGHT be able to get yours approved too.
do you have replacement insurance? or depreciated insurance?
replacement insurance costs more but whatever loss gets you a BRAND NEW whatever
depreciated cheap insurance works as follows:(
the 30 year old roof is damaged. a new roof is 10 grand. Divide 10 grand by 30 years, unlucky you heres your check foir 250 bucks have a nice day, you are paid in full.
look if insurance wouldnt cover it you still needed a new roof its 30 years old:(
Its cheaper to replace NOW before roof leaks damage rof deck and bring down interior cielings and cause mold!
I'd just ask my agent, but if the check is made out to you........
jim
HomeOwnersHub website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.