What is my responsibility if the insurance company’s check is more than the estimated cost of the property damage?

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Sep 25, 2011

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Insurance Question from Baltimore, MD

Asked on 09/25/2011

What is my responsibility if the insurance company’s check is more than the estimated cost of the property damage? Check has been received and deposited in my bank.Still getting estimates for loss and/or repair of my property

Answer given on September 27, 2011

Most insurance companies use estimation tool software when they work up the scope of loss. This estimation tool takes into consideration the damages, the materials and the cost of labor to fix those damages respective to your area or city. They have paid you to restore you back to pre-damage condition. If you are able to find someone to repair your damages for less, GREAT! If you find that you can not find a contractor to repair the damages for the amount paid by the insurance carrier, you should contact them or the adjuster right away. Usually they are very knowledge about the cost of a repair. But the contractor may see something that they didn’t. Therefore, contact them or have your contractor contact the adjuster.

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