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 Posted: Sun Nov 13, 2011 11:26 am Post subject: i have a question about water damage in my home Thanks |
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| We had water damage in our house, and the insurance company had paid for hardwood replacement in our bedroom. They sent us two checks already. Am i allowed to put in carpet instead of the hardwood. Also, will they later ask for receipts? Thank You |
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mariyapiatnitsky
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Joined: 13 Nov 2011
Posts: 1
1.15 Dollars($)
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| Posted: Sun Nov 13, 2011 3:52 pm Post subject: |
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| If a policy is replacement cost then the insurance company usually pays actual cash value until you can show that the repairs have been made. If you put in something less then you had before, the insurance company does not need to pay you the difference as you did not have what was installed, replaced. Also, is their a mortgage company on the checks? If so, they may require you to replace the wood floors with something of equal quality... I'm not sure how that would work. If they are on he checks than you want to speak to them. |
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tcope
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Joined: 22 Nov 2006
Posts: 5199
Location: Salt Lake City, UT
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| Posted: Sun Nov 13, 2011 4:59 pm Post subject: |
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the check was made out to our name only. So we need to show them receipts? or a contractor invoice? or is someone from insurance coming to check? thanks a lot
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mariya
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| Posted: Sun Nov 13, 2011 5:03 pm Post subject: |
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| Do you have replacement cost coverage and was any depreciation held back? If not, you can cash the checks and do anything you want with them. |
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tcope
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Joined: 22 Nov 2006
Posts: 5199
Location: Salt Lake City, UT
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