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 Posted: Mon Jun 29, 2009 9:19 pm Post subject: roofing claim |
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I also have a roofing claim and I got 3 estimates and the insurance company gave me a check. My problem is that they overpaid for the roof. My brothers are going to do the roof and the materials aren't going to cost as much as what the adjuster thought. Can I just give them a receipt with the total money I spent and get other things or does it have to be a detailed receipt? We are also going to get another check after I send them the receipt for the cost of materials.
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byrdman
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| Posted: Tue Jun 30, 2009 4:14 am Post subject: |
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Okay Byrdman, If you are overpaid you are lucky. Get the job done a keep the remaining.
Is the check amount more than all the three estimates that you have got?
If the repair cost is going to be well within the first check amount then you may not have to apply for the second one at all. |
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kelvin
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| Posted: Tue Jun 30, 2009 1:26 pm Post subject: |
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No the amount isn't that much over what the three estimates are. There is damage in our bedroom, bathroom, and utility room and that is what the second check is for. All 3 rooms are drop ceilings and we have extra ceiling tiles for all but the utility room, it is water damage.
Our contractors are charging a lot for labor and using really expensive shingles.
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byrdman
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| Posted: Wed Jul 01, 2009 11:49 am Post subject: |
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The second check is for what is called the recoverable depreciation and to receive that check you have to submit the receipts to show that the repair indeed have cost more than what they have issued. But if you can manage to get the work done within the first check limit, you can't pursue for the recoverable depreciation amount. Now just remember that the insurer wouldn't pay twice for the same damage.
Is there a mortgage lender involve in the claim? Has the claim check been directed to you? |
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kelvin
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| Posted: Wed Jul 01, 2009 10:57 pm Post subject: roofing |
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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??  
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raechel219
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| Posted: Wed Jul 01, 2009 11:31 pm Post subject: |
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I do have a mortgage lender but the check is directed to me.
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byrdman
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| Posted: Thu Jul 02, 2009 5:41 am Post subject: |
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Hello Raechel,
| Quote: | | 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 |
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JeremyHolter
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| Posted: Thu Jul 02, 2009 5:45 am Post subject: |
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Hi Byrdman,
| Quote: | | 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 |
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JeremyHolter
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| Posted: Tue Aug 18, 2009 12:25 am Post subject: Payment Terms |
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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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Roofing Repair
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