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Started By
Message
Home-owners insurance claim
Posted on 10/21/24 at 12:00 pm
Posted on 10/21/24 at 12:00 pm
We have owned a home since our early 20s and had several rental properties at one time and in 35 years we have had 2 claims. Not what one would called experienced with homeowners insurance claims. That said Allstate deposited just under $20k in our checking account last night without notifying us and they contacted us this morning to provide details about what was covered in the claim (hurricane Helene). Is this normal? We are waiting on estimates from contractors and the adjuster told us the money they deposited was THEIR initial estimate and could increase depending on contractor estimates. This seems like a bunch of BS to me....I am pretty comfortable I can replace our roof and repair our siding for $20k but them depositing that amount without our knowledge before hand seems strange. I know many of you live on the Gulf coast and have experience with hurricanes. Is this a standard business practice?
2
Posted on 10/21/24 at 12:40 pm to AwgustaDawg
They normally mail a check and email your estimate, but yes, that is standard practice. You have RCV (replacement cost coverage). They give you initially what your siding/roof is worth factoring in age and wear, think of KBB for a vehicle. Except unlike auto where KBB is all that you get, with homeowners you get a supplemental (2nd) payment to make up the depreciation so you have enough to pay for new repairs. They just aren't going to give you all that money up front because people would take the money and run, so they withhold the final funds to make sure the job was done.
Trying to get your work done for the initial 20k is a disaster move. Get a reputable contractor that knows how to do insurance work and get the most out of your claim. People look at insurance work backwards. Getting the cheapest estimate is like insurance telling you you can pick out a new car and instead of picking the same Lexus you had before, you pick out a Corolla. You want someone who is going to go the extra mile and replace everything, not just cut corners to make sure they get it done for less than 20k. This is not the time to be cheap and try and pocket a a thousand or two, this is the time to get the most out of your claim and do the repairs properly.
Allstate is the worst homeowners company that has ever existed and 99.99999% they miss countless items on their estimate. Just using a roof as an example of why that 20K probably isn't the right number (making up numbers here)...
Allstate pays for your roof and some roof accessories, and you get 20K. Well the only thing is that the adjuster missed a $250 disposal fee, 1k of drip edge, $400 in pipe boots and gas vents, $400 chimney flashing, and $100 to detach and rest your satellite dish. So they leave out $2,150 of work that needs to be done on your house. So you either come out of pocket that $2,150 or still try and get that done for 20K so your contractor cuts corners and doesn't do any of that. So you get a crappy new roof job. As opposed to getting a contractor who does good work and knows how to work with your insurance and gets Allstate to pay for those repairs/accessories. Which is the right thing to do because Allstate owes you for replacing those items. You pay for homeowners for a reason.
I deal with homeowners insurance/insurance claims/repairs every day of the week, it's what we do. Getting a good contractor right now is a pretty important step for you.
Trying to get your work done for the initial 20k is a disaster move. Get a reputable contractor that knows how to do insurance work and get the most out of your claim. People look at insurance work backwards. Getting the cheapest estimate is like insurance telling you you can pick out a new car and instead of picking the same Lexus you had before, you pick out a Corolla. You want someone who is going to go the extra mile and replace everything, not just cut corners to make sure they get it done for less than 20k. This is not the time to be cheap and try and pocket a a thousand or two, this is the time to get the most out of your claim and do the repairs properly.
Allstate is the worst homeowners company that has ever existed and 99.99999% they miss countless items on their estimate. Just using a roof as an example of why that 20K probably isn't the right number (making up numbers here)...
Allstate pays for your roof and some roof accessories, and you get 20K. Well the only thing is that the adjuster missed a $250 disposal fee, 1k of drip edge, $400 in pipe boots and gas vents, $400 chimney flashing, and $100 to detach and rest your satellite dish. So they leave out $2,150 of work that needs to be done on your house. So you either come out of pocket that $2,150 or still try and get that done for 20K so your contractor cuts corners and doesn't do any of that. So you get a crappy new roof job. As opposed to getting a contractor who does good work and knows how to work with your insurance and gets Allstate to pay for those repairs/accessories. Which is the right thing to do because Allstate owes you for replacing those items. You pay for homeowners for a reason.
I deal with homeowners insurance/insurance claims/repairs every day of the week, it's what we do. Getting a good contractor right now is a pretty important step for you.
This post was edited on 10/21/24 at 1:01 pm
Posted on 10/21/24 at 2:11 pm to AwgustaDawg
Make sure to go through it that they aren't lowballing anything. They "miss" a lot of ancillary work necessary to complete repairs. Example, flooring needs to be replaced, you have to take up baseboards and reinstall which means filling holes and repainting. Things like that depending on what the damages are.
They also low ball you on personal items, furniture and what not. You can tell your adjuster you need however much more, and if it is not total BS you will likely get it. Squeaky wheel gets the grease. They make plenty money off you over the years, don't do them the favor of accepting their first offer.
They also low ball you on personal items, furniture and what not. You can tell your adjuster you need however much more, and if it is not total BS you will likely get it. Squeaky wheel gets the grease. They make plenty money off you over the years, don't do them the favor of accepting their first offer.
Posted on 10/21/24 at 2:15 pm to iwyLSUiwy
quote:
They normally mail a check and email your estimate, but yes, that is standard practice. You have RCV (replacement cost coverage). They give you initially what your siding/roof is worth factoring in age and wear, think of KBB for a vehicle. Except unlike auto where KBB is all that you get, with homeowners you get a supplemental (2nd) payment to make up the depreciation so you have enough to pay for new repairs. They just aren't going to give you all that money up front because people would take the money and run, so they withhold the final funds to make sure the job was done.
Trying to get your work done for the initial 20k is a disaster move. Get a reputable contractor that knows how to do insurance work and get the most out of your claim. People look at insurance work backwards. Getting the cheapest estimate is like insurance telling you you can pick out a new car and instead of picking the same Lexus you had before, you pick out a Corolla. You want someone who is going to go the extra mile and replace everything, not just cut corners to make sure they get it done for less than 20k. This is not the time to be cheap and try and pocket a a thousand or two, this is the time to get the most out of your claim and do the repairs properly.
Allstate is the worst homeowners company that has ever existed and 99.99999% they miss countless items on their estimate. Just using a roof as an example of why that 20K probably isn't the right number (making up numbers here)...
Allstate pays for your roof and some roof accessories, and you get 20K. Well the only thing is that the adjuster missed a $250 disposal fee, 1k of drip edge, $400 in pipe boots and gas vents, $400 chimney flashing, and $100 to detach and rest your satellite dish. So they leave out $2,150 of work that needs to be done on your house. So you either come out of pocket that $2,150 or still try and get that done for 20K so your contractor cuts corners and doesn't do any of that. So you get a crappy new roof job. As opposed to getting a contractor who does good work and knows how to work with your insurance and gets Allstate to pay for those repairs/accessories. Which is the right thing to do because Allstate owes you for replacing those items. You pay for homeowners for a reason.
I deal with homeowners insurance/insurance claims/repairs every day of the week, it's what we do. Getting a good contractor right now is a pretty important step for you.
Thank you! I owe you a beer at least! This is the third homeowners claim we have had in 37 years and one of those was about $2000 from a smoked up kitchen....it was pretty cut and dried. The second one was a hail damaged roof where a contractor approached us. Thankfully that contractor was legit and it went smooth as silk. The first was nearly 35 years ago and the second was about 25....we have been lucky LOL. I appreciate the advice....it is well received. Do not want to scam Allstate but also do not want to be scammed LOL. Thank you.
Posted on 10/21/24 at 2:19 pm to iwyLSUiwy
^^^^ What iwyLSUiwy stated is a great write-up. For those of us who are "experienced" in having to make a claim, as iwyLSUiwy stated many insurance companies hope for a homeowner like you that will just make the $20k work and move on with your life. A lot of time the plan is to drop check as many claims as possible and deal with the 10-20% that try to actually fight the claim.
Work with your contractors, show them the line-item estimates and have the help you point out what is missing, what was low balled, and what may be just flat out wrong.
Work with your contractors, show them the line-item estimates and have the help you point out what is missing, what was low balled, and what may be just flat out wrong.
Posted on 10/21/24 at 2:28 pm to AwgustaDawg
quote:
Thank you! I owe you a beer at least!
quote:
I appreciate the advice....it is well received. Do not want to scam Allstate but also do not want to be scammed LOL. Thank you.
Yea man I'll be honest, I like sticking it to Allstate
Nobody shorts their homeowners out of money quite like Allstate. State Farm is close behind. But you're right, you shouldn't be out to scam them, but it is worth getting the most out of your claim. There's no reason for your house to be in worse shape after repairs are made. We just ask them (usually have to force them) to pay what they owe you for, nothing more. That's what you pay your hard earned money for. Hope the claim/work goes good for you. If you have any questions I'll try and answer any you got. I've reviewed TD's posters insurance and contractors paperwork before to make sure it looks right so if you want a second set of eyeballs on it I don't mind reviewing it
Posted on 10/21/24 at 2:50 pm to iwyLSUiwy
quote:
Yea man I'll be honest, I like sticking it to Allstate Nobody shorts their homeowners out of money quite like Allstate. State Farm is close behind. But you're right, you shouldn't be out to scam them, but it is worth getting the most out of your claim. There's no reason for your house to be in worse shape after repairs are made. We just ask them (usually have to force them) to pay what they owe you for, nothing more. That's what you pay your hard earned money for.
Hope the claim/work goes good for you. If you have any questions I'll try and answer any you got. I've reviewed TD's posters insurance and contractors paperwork before to make sure it looks right so if you want a second set of eyeballs on it I don't mind reviewing it
Thank you! I may take you up on that....I have a lot of experience in the construction industry but almost none with insurance claims thank goodness....we have been fortunate.
Posted on 10/21/24 at 9:10 pm to AwgustaDawg
O man…I’d take 100 Allstate claims over 1 State Farm claim.
Posted on 10/22/24 at 7:54 am to couv1217
quote:
I’d take 100 Allstate claims over 1 State Farm claim
Im on the supply side of you and iwyLSU business, but I hear soooo many "They are only paying for one slope" or "they are only paying to have 40 individual shingles replaced" on what should really be a slam dunk full replacement.
My first reply is "So do you have state farm or allstate?"
It seems to me that the smaller insurance companies pay the best and something that I have noticed is that Shelter pays out the arse and has a ridiculously detailed adjustment report.
Posted on 10/22/24 at 10:26 am to iwyLSUiwy
Can you explain what happens when the contractors offer credits? For instance if the insurance company quotes and pays out to replace 3 windows, but they're cosmetically damaged and I do not actually feel they need replacing. Can you legally use those funds as credits/towards cutting back into the initial deductible? If so, what is the downside outside of not being able to claim those windows again if you were to submit another claim in the future?
Does the insurance company and/or mortgage company come and look for 3 sparkling new windows or are they really more focused on the big ticket items (roof, gutters, etc)?
Does the insurance company and/or mortgage company come and look for 3 sparkling new windows or are they really more focused on the big ticket items (roof, gutters, etc)?
Posted on 10/22/24 at 12:52 pm to Lazy But Talented
Yea I mean that's a good question. People always want to make money on their claim or get their deductible paid for by the contractor. So frustrating, but those types of situations I get it.
With a situation like yours, if you didn't want to do your windows, that's fine, that's up to you. Like you say, if another claim comes through and they see you didn't replace your windows from the previous claim, they just wouldn't pay you for those windows again. You also would not get the recoverable depreciation with those windows.
For example (making up numbers here), if the RCV on three new windows is $900, the probably paid you $400 up front for them. If you replace them, you get that $500 that was withheld on the back end. If you don't get them replaced. you just get the initial $400.
I would simply put it in my contract that we are not replacing the windows and when I send in my final supplement to the insurance I wouldn't be showing work done on the windows. You can choose to do what you want to do with that $400 given for windows. Applying it towards your deductible would probably be the smartest thing.
Yes insurance is paying you to replace the windows and as a contractor I would want the work and would replace them if the homeowner wanted me to, but I understand someone not wanting to do work that doesn't really seem needed. If the cosmetic damage doesn't bother you and they function properly, I'm certainly not going to try and talk you into doing the work. Plus you're not asking me to pay your deductible (which is basically insurance fraud) AND you keep money, you're putting it towards your deductible.
With a situation like yours, if you didn't want to do your windows, that's fine, that's up to you. Like you say, if another claim comes through and they see you didn't replace your windows from the previous claim, they just wouldn't pay you for those windows again. You also would not get the recoverable depreciation with those windows.
For example (making up numbers here), if the RCV on three new windows is $900, the probably paid you $400 up front for them. If you replace them, you get that $500 that was withheld on the back end. If you don't get them replaced. you just get the initial $400.
I would simply put it in my contract that we are not replacing the windows and when I send in my final supplement to the insurance I wouldn't be showing work done on the windows. You can choose to do what you want to do with that $400 given for windows. Applying it towards your deductible would probably be the smartest thing.
Yes insurance is paying you to replace the windows and as a contractor I would want the work and would replace them if the homeowner wanted me to, but I understand someone not wanting to do work that doesn't really seem needed. If the cosmetic damage doesn't bother you and they function properly, I'm certainly not going to try and talk you into doing the work. Plus you're not asking me to pay your deductible (which is basically insurance fraud) AND you keep money, you're putting it towards your deductible.
Posted on 10/22/24 at 1:15 pm to iwyLSUiwy
Thank you for the detailed explanation.
This is my first time going through this process and it all gives me a super uneasy feeling.
This is my first time going through this process and it all gives me a super uneasy feeling.
Posted on 10/23/24 at 7:43 am to Lazy But Talented
The point of completing the work is obviously to fix your damage; however, it is also for recoverable depreciation on your claim which are funds you receive back for completing the work.
Posted on 10/24/24 at 6:08 am to Polar Pop
Shelter, Hanover, USAA, Farm Bureau have all been home owner friendly. Smaller companies are also easier to deal with. I was told by someone today that a SF attorney was told to just deny all hails claims and that what they are doing is knowing they will replace it but in a year but investing the amount they are willing to pay for a year to collect some of that interest or gains on the claim amount and then paying out after a year. The contractor, homeowner, lawyer, etc just have to stay diligent for a year. Crazy.
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