estimates on damage for fire

[greidw]

What is the name of your state? Massachusetts

My neighbors had a fire that damaged my garden shed, fence and house. I have replacement cost insurance and am going through my company, who will them go after the neighbors company. I was told by my agent to get quotes for the repairs that need to be made, and am wondering, how does the insurance company pay out? Do they pay me based on the quotes I have submitted, or does the contractor bill them directly when they have completed the work? I do not have the up front money to pay contractors and then be reimbursed. What does the insurance company require in terms of documentation of the work?

 

[Zigner]

What is the name of your state? Massachusetts

My neighbors had a fire that damaged my garden shed, fence and house. I have replacement cost insurance and am going through my company, who will them go after the neighbors company. I was told by my agent to get quotes for the repairs that need to be made, and am wondering, how does the insurance company pay out? Do they pay me based on the quotes I have submitted, or does the contractor bill them directly when they have completed the work? I do not have the up front money to pay contractors and then be reimbursed. What does the insurance company require in terms of documentation of the work?

What did your agent say when you asked her those questions?

 

[moburkes]

Well, do you have a mortgage? If so, the checks will be written to the both of you.

In any case, it is likely to be separate draws - so that you don't take the money, use it for something else, then still have repairs that need to be made.

But, they will provide the first amount - it is not on a reimbursement basis.

The person to ask is your adjuster, not your agent. Your agent isn't necessarily likely to know. Sorry Zig.