Coordinate with Your Mortgage Company:

• Public Adjuster Documentation: Submit the public adjuster contract and invoice to your mortgage company, ensuring transparency and proper record-keeping.

• Insurance Report Submission: Provide the mortgage company with the insurance company adjuster’s report and the contractor’s contract to confirm the scope and cost of repairs.

Financial Agreements and Inspections:

• Draws and Inspections: Reach an agreement with the mortgage company regarding the arrangement of financial draws and necessary inspections as the work progresses.

• Replacement Cost Retrieval: Once the structure is 60%-70% completed, contact the insurance company to facilitate the release of the replacement cost funds.

Ensure Clarity and Compliance:

• Written Approvals:

  • Ensure the mortgage company provides written confirmation that repairs can proceed.

  • Double-check that your mortgage loan hasn’t been sold to another company, to prevent administrative delays.

• Contact Verification: Secure the name of the individual at the mortgage company who will handle the insurance check, to streamline communications and payment processing.

Final Repairs and Satisfaction:

• Hold Back Funds: Even as work nears completion, maintain a portion of the funds to ensure all work meets your satisfaction before releasing final payment to the contractor.

• Utility and Construction Bills: Verify that all utility and construction bills are paid in full to avoid future liens or issues.

• Lien Waiver and Satisfaction Affidavit: Obtain a waiver of lien from the contractor and sign an affidavit confirming your satisfaction with the work completed.

Documentation of Warranties:

• Written Warranties: Ensure you receive written warranties covering the completed work from your contractor, providing peace of mind and security for any future issues that may arise.

By diligently managing these administrative details, you protect your investment and ensure a successful resolution to your property damage claim. This final step brings you full circle, from initial damage to complete recovery, with your home or business restored and secure.

Thank you for following our series on navigating the insurance claim process. We hope this guide has equipped you with the knowledge and confidence to handle any future claims effortlessly. If you have any further questions, please reach out to us here, at CPR Claims.