Property & Casualty Insurance/fire damage

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Question
We received a check from insurance for the initial estimate, then additional work was added by the adjuster in the amount of $12,000.00

we incorporated the additional work into one job, there is only flooring left to do on the job, aprox. $10,000.00 worth, we are still owed $22,000.00..... however the insurance company said they will not pay until the job is completed.

we can not com pleat without the money for the flooring, we have called many times to speak with the adjuster but he is never in, the few times we did catch him we asked for a meeting with his boss... he said (my boss is uninterested in a meeting with you.) and then said we were bugging him..

can they just decide to hold the money like that?
and refuse a meeting?

Answer
Did you purchase directly from the insurer, or through a broker/agent?  If the latter, I would call them for assistance.  Often carriers are able to make partial distributions, and then advance additional money as they see progress.  Other times, insurers will issue the Actual Cash Value of ALL replacements, and then once the job is complete, they would send the difference between Actual Cash Value and the Replacement Cost (assuming you have a Replacement Cost policy, which is most commonly the case).  I'm curious to know what insurance company this is.  If your adjuster and his boss are giving you a hard time, you can go through the customer service channel and let them know - maybe someone else can help.  If all else fails, you can always threaten to file a complaint with the State Insurance Department.  The scope of having insurance is to help "the insured" become indemnified.  They should be willing to do what's necessary for you to do that, without you needing to take loans or anything of the sort!  

Property & Casualty Insurance

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Noah Bank

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Personal, Business, Commercial, Property & Professional Insurance Related questions. (Property & Casualty)

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15 Years of Banking & Insurance Experience

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