by littlefoot » Fri Jan 02, 2015 06:14 pm
My sister just got her loss check and papers in the mail for water damage and the mortgage company is on the check too. We are not sure if the adjustment is correct yet we are just calling contractors now but the mortgage company keeps calling and wanting to know why she hasnt signed the check and sent it so they can get it in escrow. Our question is if my sister signs the check and finds out it was too low amount for work done can she ask the insurance company for more. Also is it normal to have to pay the deduct before the recoverable is requested?
Posted: Fri Jan 02, 2015 08:09 pm Post Subject:
Yes she can still ask for more if it's not the correct amount. The correct amount is owed under the terms of the policy. Acceptance of a partial payment does not negate what is owed.
Posted: Mon Jan 26, 2015 10:03 pm Post Subject:
I would recommend that you first read what is written on the check as I have seen some companies put language on check that indicates that it is for full and final payment. However, tCope is correct as to how it should go but there are exceptions and depending on the size of the loss these consequences could be severe. Even if everything looks good, I would still recommend clarifying it with the insurance company that the payment is for undisputed damages only and that the claim is to remain open for any additional covered damages that may be found.
It is normal for the deductible to be taken out of the first payment.
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