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: Thu Jul 02, 2009 05:41 am Post Subject:
Hello Raechel,
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??
Well, this is a tough call. Since the bank is an interested party on the property they may choose not to release the check to anyone else but only to a qualified contractor. Hence, you might not have much option but to engage a licensed contractor for the job.
~Jeremy
Posted: Thu Jul 02, 2009 05:45 am Post Subject:
Hi Byrdman,
I do have a mortgage lender but the check is directed to me.
Then I see no issues with it. If you can fix the roof at a cheaper rate, you may do it. Keep the rest of the claim amount or use it for whatever purpose your want. But you may have to forgo the second check to recover the depreciation value.
~Jeremy
Posted: Tue Aug 18, 2009 12:25 am Post Subject: Payment Terms
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?
Add your comment