by Guest » Tue Jul 29, 2008 08:51 pm
I searched this forum and have found some great info for situation similar to my own. Smile
But I would like to go ahead and share my question and see if I can get a definitive answer.
I made a claim for roof damage due to hail and the ins adjuster came out and inspected everything. He submitted the claim and I received a check, in less than a week, for a new roof minus the deductible.
I do not believe the roof needs to be fully replaced, looks to be some shingle repair at the most, just replaced in 2003. We are going to get some estimates regardless.
Question is, will it be OK to simply not get the repairs done, or is that in some way illegal. I am not into committing ins fraud but I honestly do not think there is too much damage. Confused I would probably fix some of the damage myself and do some other work on the house.
Also the check does have the mortgage companies name on it to so I do not know if they will need to be involved.
Any input is appreciated. Thanks
But I would like to go ahead and share my question and see if I can get a definitive answer.
I made a claim for roof damage due to hail and the ins adjuster came out and inspected everything. He submitted the claim and I received a check, in less than a week, for a new roof minus the deductible.
I do not believe the roof needs to be fully replaced, looks to be some shingle repair at the most, just replaced in 2003. We are going to get some estimates regardless.
Question is, will it be OK to simply not get the repairs done, or is that in some way illegal. I am not into committing ins fraud but I honestly do not think there is too much damage. Confused I would probably fix some of the damage myself and do some other work on the house.
Also the check does have the mortgage companies name on it to so I do not know if they will need to be involved.
Any input is appreciated. Thanks
Posted: Wed Aug 13, 2008 09:44 am Post Subject:
I'm curious to know what has made our guest to make such a comment.
Ignorance, mean spirited, bigot...pick one... :roll:
Posted: Wed Sep 03, 2008 10:07 pm Post Subject:
Thanks for the replies.
We decided to just get the roof replaced and received some quotes.
I have a question about the insurance estimate. The estimate is ACV and the estimate states that we can make a supplemental claim for the depreciation within 180 days. Is it standard to recover this cost and make a claim for the RCV? I would like to recover the cost because the quotes are higher than our ACV so I was wonderin how I should approach this.
Thanks in advance.
Posted: Thu Sep 04, 2008 12:51 am Post Subject:
yes, it is standard now...you just need to contact your adjuster and tell them you've had the roof done, and what do they need to pay you the balance, more than likely the bill from the contractor and proof of your payment, then they should be able to just issue you the draft...
Posted: Thu Sep 04, 2008 09:03 pm Post Subject:
thanks!
Posted: Mon Jun 29, 2009 09:19 pm Post Subject: roofing claim
I also have a roofing claim and I got 3 estimates and the insurance company gave me a check. My problem is that they overpaid for the roof. My brothers are going to do the roof and the materials aren't going to cost as much as what the adjuster thought. Can I just give them a receipt with the total money I spent and get other things or does it have to be a detailed receipt? We are also going to get another check after I send them the receipt for the cost of materials.
Posted: Tue Jun 30, 2009 04:14 am Post Subject:
Okay Byrdman, If you are overpaid you are lucky. Get the job done a keep the remaining.
Is the check amount more than all the three estimates that you have got?
If the repair cost is going to be well within the first check amount then you may not have to apply for the second one at all.
Posted: Tue Jun 30, 2009 01:26 pm Post Subject:
No the amount isn't that much over what the three estimates are. There is damage in our bedroom, bathroom, and utility room and that is what the second check is for. All 3 rooms are drop ceilings and we have extra ceiling tiles for all but the utility room, it is water damage.
Our contractors are charging a lot for labor and using really expensive shingles.
Posted: Wed Jul 01, 2009 11:49 am Post Subject:
The second check is for what is called the recoverable depreciation and to receive that check you have to submit the receipts to show that the repair indeed have cost more than what they have issued. But if you can manage to get the work done within the first check limit, you can't pursue for the recoverable depreciation amount. Now just remember that the insurer wouldn't pay twice for the same damage.
Is there a mortgage lender involve in the claim? Has the claim check been directed to you?
Posted: Wed Jul 01, 2009 10:57 pm Post Subject: roofing
So does anyone know... What if the bank won't release the money to anybody but a licensed contractor, but I (the homeowner) planned on doing the repairs myself, to save money and apply the rest to the other parts of the house?? :? :(
Posted: Wed Jul 01, 2009 11:31 pm Post Subject:
I do have a mortgage lender but the check is directed to me.
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