After a claim, most insurance companies will usually pay a reduced amount in initial payment. Once you have repaired your damage, you will receive a second check for the difference. This prevents customers from taking the money and not making the needed repairs. Typically the first check will be 50% of the total. Adjusters often do a poor job of explaining that a second check will be written once the damage is repaired.

May 14, 2018

What is hold back, after a claim?

After a claim, most insurance companies will usually pay a reduced amount in initial payment. Once you have repaired your damage, you will receive a second […]
May 14, 2018

What is Building Ordinance coverage?

Building Ordinance and Law coverage will protect your property in case there is a municipal ordinance or law that requires certain specifications be followed that an […]
May 14, 2018

What is coinsurance?

Coinsurance is an insurance term referring to when a customer is penalized for not maintaining a minimum amount of coverage on a building or business contents. […]