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 Posted: Tue Sep 15, 2009 2:55 am Post subject: Can I spend a hail damaged siding payout on a new kitchen? |
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| I have a claim for siding replacement from hail damage but need a new kitchen more, can I use the payment from the insurance company for the siding towards a kitchen rehab? what are the reprecussions? |
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blake_and_laura
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Joined: 15 Sep 2009
Posts: 2
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| Posted: Tue Sep 15, 2009 5:04 am Post subject: |
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| You can if you want... as long as the check is payable only to you and not you and the lien holder or repair company. |
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tcope
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Joined: 22 Nov 2006
Posts: 5068
Location: Salt Lake City, UT
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| Posted: Tue Sep 15, 2009 1:00 pm Post subject: |
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| Thank you, any problems down the road as long as we dont have another siding claim? |
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blake_and_laura
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Joined: 15 Sep 2009
Posts: 2
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| Posted: Wed Sep 16, 2009 2:05 am Post subject: |
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| It was your money to begin with, they have no authority of where the money is spent. You can run into a problem as long as you don't "reclaim" damage to the property after they have already settled with the most recent claim. People do this all the time. |
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Trench
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Joined: 16 Sep 2009
Posts: 911
Location: Kansas City
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| Posted: Wed Sep 16, 2009 4:10 am Post subject: |
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If it was vinyl siding that has cracks... your company may do a drive-by inspection (these are done every now and then without your knowledge). They may insist that you have your siding replace to prevent water damage (cracked siding) to the interior. At that point you would have x amount of days to make repairs or they could drop you.
Also, if they held any money back for depreciation you would not be able to recover it since you are not having the work completed.
Other then those two items which may or may not happen....go for the new kitchen.
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Dasfuk
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Joined: 27 Feb 2008
Posts: 597
Location: Ohio
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| Posted: Wed Sep 16, 2009 6:43 am Post subject: |
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| Quote: | | Thank you, any problems down the road as long as we dont have another siding claim? |
Right now you may not face any more problems. But if you have a similar problem in the near future, your carrier will come to know of this settlement through your claims history.
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anonymous00
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