Can I keep the money paid out by my home insurance company instead of repairing my property?

Answered by Home Insurance, Car Insurance Expert Shannon on January 28, 2021

I got a payout to patch up some drywall in my home. I'm wondering if I can just keep this money instead of fixing the drywall.

expert avatar


Home Insurance, Car Insurance Expert

Technically, yes. You can keep the claim payout without having the repairs completed, but I wouldn’t recommend it. The insurance carrier will not make a payment on a duplicate claim, and they would most likely require proof of repairs completed if there was a loss to the same area of the home that should have been repaired. Also, the carrier may require a home inspection, and if the home does not pass because the repairs were never made, the policy may be canceled. If the repairs are completed and there is money left over, it is yours to keep!

Home Insurance

Have an insurance question?

Our insurance agents are ready to help you, for free.

Ask your question, it’s 100% free
Thousands of customers saved on average $887/year on their car insurance with Jerry
This app is great, but the customer service is even better! Not to mention convenient! My husband and I got the lowest rate (much lower than the rates I was finding online through my own searches), quickly, and pretty much all through text message! Thank you so much for a hassle free experience👍
Gabriella R.
Find savings (100% Free)
stars4.6/5 Rating on App Store