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Question DetailsAsked on 2/2/2018

Should i share insurance payout figures with contractors

I have contractors doing estimates on repairs after water damage to our home. Insurance claim is in process but the contractors keep saying that their estimates is whatever the insurance payout will be.
This doesn’t feel right.
Shouldn’t the contractor give me a detailed estimate regardless of the insurance payout.

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1 Answer


Water and Smoke Damage is the Search the List category to find vendors for your type of situation - or a General Contractor. If you are looking at mulitple contractors then you will be acting as the General Contractor yourself, which can be an issue and takes a lot of your time.

If the insurance company has paid a lump sum (rather than asking for bids to base their payment on) then see the response below, but giving them the amount you received just pretty much guarantees their bids will all be the same (or maybe higher) - the amount of the insurance payout plus any amortization or deductible.

Here is a previous question about the subject, with answer, which should help you - and a couple of links about the issue (though about roofing, but same principles at play) and one about what happens if the payout is more than the repair cost.

Answered 2 years ago by LCD

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