How do you receive the final deferred payment (Claim) from your insurance co. if you do the work yourself?

Question

I filed a property claim on my Homeowners insurance policy. I received the initial payment on the claim and will receive the final payment after submitting receipts on how much it cost to repair the damages. My question is how do I get the final deferred payment if I do the work myself. I would only have the receipts for the material and not the labor. I'm also considering using a less expensive material on my house than what was originally on the house. How do I get the full final payment for my house if I can't produce receipts for the labor or if I use a least expensive material on my house. Please advise.

Answer 1

You will be paid for the less expensive material. Your insurance company will not pay the difference for a more expensive material you could have used. As for the labor, your best bet is talk to contractors in your area & find out what the hourly rate is for whatever you were doing (I assume roofing, but you don't say.) Then provide an itemized invoice of your hours at the going local rate.
I have to remind you that insurance is to get you back to where you were at the time of the loss. It is not to make a profit off of.

Answer 2

I would recommend that you visit this site where onel can compare rates from different companies: http://QUOTES-FOR-INSURANCE.NET/index.html?src=2YArirlia85F

RE :How do you receive the final deferred payment (Claim) from your insurance co. if you do the work yourself?
I filed a property claim on my Homeowners insurance policy. I received the initial payment on the claim and will receive the final payment after submitting receipts on how much it cost to repair the damages. My question is how do I get the final deferred payment if I do the work myself. I would only have the receipts for the material and not the labor. I'm also considering using a less expensive material on my house than what was originally on the house. How do I get the full final payment for my house if I can't produce receipts for the labor or if I use a least expensive material on my house. Please advise.
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