by blake_and_laura » Tue Sep 15, 2009 02:55 am
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?
Posted: Tue Sep 15, 2009 05:04 am Post Subject:
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.
Posted: Tue Sep 15, 2009 01:00 pm Post Subject:
Thank you, any problems down the road as long as we dont have another siding claim?
Posted: Wed Sep 16, 2009 02:05 am Post Subject:
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.
Posted: Wed Sep 16, 2009 04:10 am Post Subject:
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.
Posted: Wed Sep 16, 2009 06:43 am Post Subject:
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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