Feel like I'm pulling a scam.

[Twoboos]

We had tons of water damage from ice dams this winter. We've been without walls (floor to ceiling to the studs) or portions of walls in 6+ rooms for 4.5 weeks. The insurance adjuster finally came, and while he was doing up his report I got 2 different construction guys to quote on the rebuild. (We already have a quote from the demolition/water damage people, since their portion is done.)

The adjuster called last week and gave me the number. It still has to be processed through the appraiser, but the adjuster said 90% of the time his number is the one.

I have gotten two quotes and let's just say they are significantly lower than what I'll get from insurance. I used legit contractors, who are licensed, registered, insured, etc.

I feel like I am scamming the ins co. In the 13 years we've been homeowners, we've never put in a claim. I realize that my insurance is likely going up, even if the rebuild quotes came in higher. But... do I do anything here? Honest me feels like I should, but WHAT - I swear people will think I'm insane if I say, "You're giving me too much money." Less-honest me says, to quote Steve Miller, "Take the money and run."

Maybe I should chalk the difference up to payback for emotional distress. This has sucked royally.

[AnnieW625]

You never tell anyone from an insurance company that is willing to give you more money that they are giving you too much money. ;)

[WolfpackMom]

This is what you pay into insurance for (sort of). I would take what the give, a quote isnt a hard number and it could very well end up costing more if any hiccups happen along the way.

[smiles33]

:yeahthat: to both PP. They are experts and wouldn't offer more money than reasonable. Perhaps your contractors are cutting you a deal because they need the business?

[sunshine873]

Are you including replacement costs of any "things" that were lost or damaged? Like others have said, you don't know the complete costs of all of that until the job is done - you never know what kinds of things might come up.

Plus, maybe you were just lucky enough to get some really reasonable quotes. I say roll with it...

[Twoboos]

Ok so you're all telling me to Steve Miller it, lol.

OK, I feel a bit better.

[BabbyO]

Did the rebuild quotes include primer and paint for the walls. Will you have to repaint the entire room to make the colors match? Did they include any wall hangings etc that may have been damaged and would be replaced?

There definitely can be other costs, and IME (had hail damage to the house and a power surge - both ins claims) the insurance guys tend to be pretty good with the estimates.

[ThreeofUs]

OMG, nonono. You aren't scamming; please believe me that you will need every penny of the insurance money.

[gatorsmom]

OMG, nonono. You aren't scamming; please believe me that you will need every penny of the insurance money.
:yeahthat: I couldn't agree more.

[iaam]

Chances are not zero that instead of raising your insurance premium, the insurance company will drop you. This happened to us for a measly $2500 claim. We got a letter telling us that we weren't profitable any more (exact words). Had we known, we wouldn't have filed the claim and just paid on our own. Finding another policy was a pain and we pay a lot more than we used to. None of this makes sense to me since that's the whole point of insurance!

Anyway, so based on this, my view is that you take what they are giving you and have no qualms about it. Insurance companies are far from saints!

[Melanie]

I'll bet things come up, too. I've never had work done on my house where things didn't come up along the way.