0
When a homeowners insurance company pays a claim do the homeowners have to use it?
Wiki User
∙ 12y ago
Not necessarily, but should you suffer a loss involving that area again and it is unrepaired you will not be paid again for that damage, or the amount paid this time will be deducted from the new claim...Also you mortgagee may have to sign off on it.
You normally have 180 days to have repairs completed. If you have a mortgage most likely your mortgage company will force you to make the repairs. remember... they own your home until its paid off. Best thing to do is complete the repairs.
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
When a homeowners insurance company pays a claim will they normally increase the cost of the insurance?
It all depends on the type of claim. If the adjuster believes that the claim can be a predictor of future additional risk, he/she will probably recommend increasing rates.
Can I accept property money damages from both my contractor's insurance co and my homeowners insurance?
No!! It is highly illegal for you to do this. When you make a claim on you home insurance for something that was the fault of your contractor you sign over all subjugation rights against this contractor to your insurance company. This means that if your home insurance pays any part of this claim you give them all your rights to go after the contractor, which they will do. They will go to the contractor and their insurance company to get reimbursed for any amount they paid plus costs. In most states it is considered insurance fraud for you to even try to collect damages from two places for the same claim.
Will your insurance company pay you a diminished value if accident is your fault?
No, if it is your fault you are not eligible to received diminished value from your insurance company. It has to be a third party claim, ie the party at fault's insurance company pays the damages if you can recover them.
If your insurance pays for a roof can you claim it on your taxes?
No.
What does the word subrogation mean?
When an insurance company pays out on a claim and then files their own claim against another responsible carrier to recover any money paid out.
Who pays for employees pregnancy disability claim in PA?
Pennsylvania does not have state disability or mandated paid leave. If you have a policy, then the insurance company would pay the claim.
Does homeowners ins have to pay cost over deductible?
The deductible is the part of the loss that the policyholder is responsible for paying before the insurance company pays the remainder of the loss.
If your auto is hit the other driver's auto insurance pays all medical expenses and so does your health insurance must you reimburse your company?
You do not have to reimburse your insurance company if the accident is the fault of the other driver and the claim is made on their insurance. If the accident is the fault of the other driver and their insurance does not cover everything and you make a claim on your insurance for reimbursement, your insurance will subrogate (collect back) from the other company.
What is loss adjustment expense?
Everything an insurance company pays in recording, adjusting, and settling a claim. LAE does not include the claim payment itself, just everything else.
Who pays for the physical that is required by a life insurance company?
Life Insurance Company
Can the other persons insurance cover your deductible?
Yes. That is part of your claim against them. However, if you filed with your insurance company, you gave up your right to pursue them for damages. Generally speaking, your insurance company will pursue the other party's insurance company and if the other company pays, that payme usually includes your deductible.
Who pays for the funeral if the person has life insurance?
The insurance company.
