How do I handle repairs after getting a check from the insurance company?

I just got a check from the insurance company following some burst pipes in my rental property. How should I conduct the repairs?

Answer
“You shouldn’t show the check to the repair people, as they’re likely to ask for the entire amount. That said, you shouldn’t skimp on the repairs, as shoddy work can put you right back at square one.
Find a reputable plumber to take care of the burst pipes and you shouldn’t have any problems moving forward. You may even have a little extra money leftover that you can put toward better home insurance coverage or something else that protects your assets.
If you haven’t seen your rates change as a result of the claim yet, keep in mind that they might increase at your renewal time. Claims often increase premiums, and if you don’t like your new rate, it’s a good time to shop around.
Finding new companies and requesting quotes can be time-consuming, so leave the hard work to Jerry. The free Jerry app pulls quotes from top companies and delivers the best deals to your phone in minutes.”
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Eric Schad
Answered on Aug 17, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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