I'm doing more and more insurance work and I did a commercial repair for a customer I've known personally for the past 15 years.
Was a small 3 ply job, off and on. Came out to around 1,800.
When the adjuster sent out the check, he made it out to the property owner, he deposits the check, all is fine. But when he pays me, he honestly did not have all 1,800. He's just got a poorly ran business and did not have a cent over 1,400.
So I just took the $400 hit, cause I know the guy personally, and I know his business has been on the decline recently because of a more saturated market.
This year he has another claim, on the opposite side, but it's larger.
About 5,200 in a 6sq, 3-ply. Involves some shoring up of rafters and such and a little interior work.
The amount minus deductible, minus depreciation, is about 3,400 and the recoverable depreciation is about 1,000.
So when the first check comes, he's $400 short again this time because of his phone bill. I know he really is just short though. He has money coming on the first, and says he can pay the $400 then.
But for the recoverable depreciation check, I'd like the adjuster to just mail it to me to save this hassle.
I've had adjusters just pay me, I've had them write the checks to the mortgage/title companies, most of the time they are to me or the home owner, and the home owner just signs off on the check.
Why so many different ways? And If I'm the one buying exactimate, writing them up the job to be done for said amount of dollars, why send the check to the property owner?
Was a small 3 ply job, off and on. Came out to around 1,800.
When the adjuster sent out the check, he made it out to the property owner, he deposits the check, all is fine. But when he pays me, he honestly did not have all 1,800. He's just got a poorly ran business and did not have a cent over 1,400.
So I just took the $400 hit, cause I know the guy personally, and I know his business has been on the decline recently because of a more saturated market.
This year he has another claim, on the opposite side, but it's larger.
About 5,200 in a 6sq, 3-ply. Involves some shoring up of rafters and such and a little interior work.
The amount minus deductible, minus depreciation, is about 3,400 and the recoverable depreciation is about 1,000.
So when the first check comes, he's $400 short again this time because of his phone bill. I know he really is just short though. He has money coming on the first, and says he can pay the $400 then.
But for the recoverable depreciation check, I'd like the adjuster to just mail it to me to save this hassle.
I've had adjusters just pay me, I've had them write the checks to the mortgage/title companies, most of the time they are to me or the home owner, and the home owner just signs off on the check.
Why so many different ways? And If I'm the one buying exactimate, writing them up the job to be done for said amount of dollars, why send the check to the property owner?