settling insurance claim

jackysparkle

we were recently flooded downstairs due to leaking pipe. All repaired now but chem dry need to come in and dry and local builder appointed by loss adjuster need to strip back tiles etc and to make good all damage. Do I have to have the loss adjusters builders to repair (i have heard they will soon be out of business) or can we take a cash settlement and do repairs ourselves. If so do we lose out financially??

Ebe_Scrooge

It depends entirely on your insurance company.

A lot of companies will give you the option of appointing your own tradesman and send you a cheque, however they will normally not pay more than their own tradesman would charge for the job. So if your tradesman charges ( figure plucked out of the air ) £50 per hour, but their own guy charges £45, then the most they will give you is based on a fee of £45 per hour.

Impossible to say for sure, you need to phone them up and check what their policy is.

Nile

Hi, Martin’s asked me to post this in these circumstances: I’ve asked Board Guides to move threads if they’ll receive a better response elsewhere(please see this rule) so this post/thread has been moved to another board, where it should get more replies. If you have any questions about this policy please email [EMAIL="abuse@moneysavingexpert.com"]abuse@moneysavingexpert.com[/EMAIL].