fraud?

[621BB]

Wyoming; If a person makes a claim for, say, hail damage to their home and is paid by the insurance company, are they required by law to use those funds to fix the damage or can they spend it any way they want to?

 

[Zigner]

Wyoming; If a person makes a claim for, say, hail damage to their home and is paid by the insurance company, are they required by law to use those funds to fix the damage or can they spend it any way they want to?

The lender will require it.

 

[Mia.Nita]

You Could use it for anything you want, but you will still have broken siding, and if your ins co or lender inspects your property, they will be upset. and demand remedy.

 

[ecmst12]

The insurance company probably doesn't care what you do with the money, but your leinholder will DEFINITELY care.

 

[FlyingRon]

Many insurers will write the check to both you and the lender. The lender will want proof that the work is being done before they'll endorse the check.