My question involves insurance law for the state of: Wisconsin
We are receiving a claim payment to repair our basement and replace appliances. Insurance field adjuster came and noted everything that needed to be repaired and replaced so obviously that’s what we’re getting a claim payment for, and had several companies come give us estimates on the repairs he noted. The estimates were well over what the insurance adjuster estimated it to be, so we’re getting additional funds.
So, we need our furnace replaced, all of the finished walls torn out and put back up and painted, new flooring throughout, new washer and dryer, etc. if we take the money but don’t feel the need to rip the walls out and rebuild, is that fraud? We’re not embellishing on any damages or damaged appliances, and the field adjuster WITH our insurance company is listing everything that needs repair so it’s not coming from us saying “oh we need $15,000”
I’m just worried about repercussions if we don’t make the repairs they say we need after cashing the check.
We are receiving a claim payment to repair our basement and replace appliances. Insurance field adjuster came and noted everything that needed to be repaired and replaced so obviously that’s what we’re getting a claim payment for, and had several companies come give us estimates on the repairs he noted. The estimates were well over what the insurance adjuster estimated it to be, so we’re getting additional funds.
So, we need our furnace replaced, all of the finished walls torn out and put back up and painted, new flooring throughout, new washer and dryer, etc. if we take the money but don’t feel the need to rip the walls out and rebuild, is that fraud? We’re not embellishing on any damages or damaged appliances, and the field adjuster WITH our insurance company is listing everything that needs repair so it’s not coming from us saying “oh we need $15,000”
I’m just worried about repercussions if we don’t make the repairs they say we need after cashing the check.
Home Insurance: Insurance Claim Payment for Water Damage, Not Using Funds to Make All Repairs
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