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Cashing homeowner's insurance check quandary
Posted by: Dennis S
Date: October 13, 2020 12:31PM
My mom was sent a settlement check for $1,700 for damages that the contractor estimated at about $6,700 plus over $8,000 for a roof. The whole process was messed up due to agents not responding quick enough due to covid, so much damage in the region, and my illness that kept me from fascilitating things from my end. The check stale dates 11/1/20. My sister talked to the agent and he said we'll all start over with contractors that are in business rather than the highly-regarded but independent "just a guy" person we were using. So all that looks better. However, he told my sister to go ahead and cash the check and then they will deduct that amount from the new bigger check later.

Everybody "knows" that cashing the first check acknowledges you accept that amount as full and final payment, right? He said it didn't and don't worry about it. He's been in business in this small town at least 40 years and is respected. The check or the paperwork with it makes no mention of acceptance, final payement, etc.

I'll call the insurance commission after he lunch hour is over.



Edited 1 time(s). Last edit at 10/13/2020 12:33PM by Dennis S.
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Re: Cashing homeowner's insurance check quandary
Posted by: Bill in NC
Date: October 13, 2020 12:49PM
I went through this when a large (big enough to be called a trunk) tree branch fell on my late relative's home, tearing off the front gutter and facia board, with some minor damage to the shingles.

No mortgage or other lien on the property.

I made the claims adjuster and the restoration company I engaged agree on a total cost before authorizing anything beyond emergency work, i.e. removing the tree limb from the roof.

The first check was for the depreciated value less the deductible.

I received a check for the remainder of the total cost on completion of the job.

Then finally a check to cover the emergency work.



Edited 1 time(s). Last edit at 10/13/2020 12:51PM by Bill in NC.
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Re: Cashing homeowner's insurance check quandary
Posted by: Dennis S
Date: October 13, 2020 01:11PM
This check is for the depreciated value less the deductible. Also, the house is paid for and there are no leins.
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Re: Cashing homeowner's insurance check quandary
Posted by: macphanatic
Date: October 13, 2020 02:19PM
Get everything in writing. Agent might be the best guy in the world, but he's an agent.
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Re: Cashing homeowner's insurance check quandary
Posted by: Michael
Date: October 13, 2020 03:47PM
Make sure the check doesn't have a statement on it that indicates it's full payment.
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Re: Cashing homeowner's insurance check quandary
Posted by: Dennis S
Date: October 13, 2020 04:25PM
Quote
Michael
Make sure the check doesn't have a statement on it that indicates it's full payment.

It doesn't.
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Re: Cashing homeowner's insurance check quandary
Posted by: rjmacs
Date: October 14, 2020 12:05PM
I think it's normal in cases like this to have multiple adjustments, checks, etc. What governs your rights is how the insurance commissioner in your state handles cases.



rj
AKA
Vreemac, Moth of the Future
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