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Homeowner Insurance in FL

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jlmcorvo36

Junior Member
My insurance company paid us to fix our roof. All repairs are done now, and they are asking for receipts of the repairs made, however, we lost some of these receipts.
Can I provide them with Bank Statements to proof payments made?
Our contractor charged us less than what was anticipated, will the insurance company require us to return any money left or we can use that money to make additional home repairs.

Best Regards,

JL
 


adjusterjack

Senior Member
My insurance company paid us to fix our roof. All repairs are done now, and they are asking for receipts of the repairs made, however, we lost some of these receipts.
Go back to the contractor and have him provide a duplicate.

Can I provide them with Bank Statements to proof payments made?
Unless it's a copy of the check, no, all that proves is you took money out of the bank, doesn't prove what you did with it. Don't tell me you paid the contractor in cash and then lost the receipt. Yikes.

Our contractor charged us less than what was anticipated, will the insurance company require us to return any money left or we can use that money to make additional home repairs.
You won't have to return any money, you just won't get any more than you spent on the work.

Here's how the Replacement Cost holdback works.

Insurance company estimate 10,000.
ACV paid 7,000.
Holdback 3,000.
You spend 8,000.
You get another 1000 when you provide the receipt or invoice from the completed work.

The Replacement Cost holdback is designed to that you get paid what the work cost you less your deductible (which I didn't show because it would only confuse you). ;)

Had you spent only 6,000, you get to keep the extra 1,000.
 

zddoodah

Active Member
Your question doesn't seem to raise a legal issue. Obviously, you can provide your insurer with anything you like. Whether your insurer will accept bank statements isn't possible for anyone here to know. That said, can't you obtain duplicate receipts from the contractor?

What happened that caused your insurer to pay you to fix the roof?
 

adjusterjack

Senior Member
What happened that caused your insurer to pay you to fix the roof?
In Florida, Z, would almost have to be windstorm because wear and tear wouldn't be covered, and Florida is the windstorm capital of the US (according to insurance adjusters). ;)
 

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