Final settlement

tigertrio

I sent a loss adjuster an estimate, and it has been accepted, I now have to sign paperwork which states it's a full and final settlement.

However, it's an estimate, I have asked the builder firm for a quote, not their policy (nor anyone else who i've dealt with will give one).

The work cannot be done until Spring as it is temperature sensitive and the builder firm has other jobs too.

I have concerns about accepting a full and final settlement now when the work will not be carried out for several months and anything could happen between now and then. Material price increases, builder could go bust and I need to find another one, etc.

What is the standard in this situation. My policy has no mention about having to accept a full and final settlement, it just states the work will be paid for if their liable.

DullGreyGuy

It somewhat depends on if it's a matter of more work being discovered when they start stripping back or if the company simply increases their costs from the estimates. 

For the former, it being "full and final" rarely carries much weight with the ombudsman. If you've chosen your own provider and they just say they made a mistake then the ombudsman is less positive given you selected them