Question
Can I keep the difference of an insurance claim for a new roof?
I made a claim to my insurance agent about my roof because of some damage that occured this past hurricane season. They gave me a check for 10,000+ dollars to basically redo the roof and in the scope of work they listed to redo some of the ceilings that had minor stains. So far I've gotten a quote from a company to do it for only $7300 but that does not include redoing the extremely minor ceiling stains that I could care less about. My question is.. If my roof comes out to 7300 can I keep the 3000+ dollars for myself? or am I suppose to do all the repairs that the insurance company cut me a check for. And even then would I be able to keep the excess money?
6 months ago - 3 answers
Best Answer
Chosen by Asker
Yes, you can keep the difference. It's perfectly legal. You should definitely get all the repairs done to your roof since your home is your biggest investment, but if you come out ahead, then use the cash to pay off a bill, do a home improvement or take a vacation.
6 months ago
Asker's Rating: 
Other Answers
you can keep it, but if you have damage later, you will have to proof what you just got fixed. now, if you gave an estimate for that much and don't use that company, your insurance has the right to the extra money
by cindy m- 6 months ago
Yes, you can . . .however, keep in mind, those cheap roofers usually do shoddy jobs, and leave stuff off - and that shoddy job and ensuing damage is NOT going to be covered by the insurance company a second time.
by mbrcatz- 6 months ago