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 Posted: Tue Aug 18, 2009 2:03 am Post subject: Full check payment required? |
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Roofer that completed our roof has now sent an additional adjusted cost to the insurance company to recover the depreciation and, from what they say, additional cost which is higher that the original agreement. We had agreed on a price for the roof and they indicated that if the insurance company paid the additional amount that they were entitled to 100% of the amount recovered.
Is there any obligation to pay them for more than what was agreed to. They indicated that they file a report with some government agency. Is this true?
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| Posted: Tue Aug 18, 2009 3:12 am Post subject: |
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There's a reason why they're called "estimates"- the actual cost could differ. You have the right to a full accounting of the actual work performed, including labor, when the work is completed. If the actual work cost exceeded the estimate, there's a good likelihood that you (or your insurer most likely) are responsible for the increased costs. Insurance companies are used to this and should be able to work it out with your contractor.
So, if the insurance company pays additional funds toward the loss, and your contractor is still owed legitimate funds, he is entitled to whatever his legitimate billing would be.
BUT! If his work billing has been satisfied, there's NOTHING that would entitle him to any extra money. Just because the insurer pays more to satisfy the replacement cost provision in your policy, that doesn't necessarily mean that the roofer gets the money. He only gets the money if it's actually owed to him for work performed.
Finally, the insurance company will not normally let you "profit" from the loss. In other words, there shouldn't BE any money "left over." The insurer should only pay the actual replacement costs less your deductible. I hope this answers your question...!
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InsTeacher
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| Posted: Tue Aug 18, 2009 6:50 am Post subject: |
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It really depends what the extra cost includes. Hidden damage? Missed materials (roof vents, plumbing boot, etc.) Was an agreed price reached between the contractor prior to work being performed or did the insurance company give you an estimate and paid you off that and then the contractor got on the job? I always had a problem with a roofer asking for more money after reaching an agreed price to repair. (note: agreed price to repair with me and not an estimate). Some roofers are real good at selling their service at a lower price and then trying to supplement the claim with BS items to inflate the claim after the fact. Look at it this way, if they tacked on $500.00 to each claim and handled 100 roofs in the area, it really starts adding up.
If nothing was missed an agreed price to repair was reached the company should tell them to pound salt. If something was missed and the supplemtn is legit then they should pay it.
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