If your home has recently been damaged -- such as during a bad storm or while it was being broken into -- then you have probably filed a claim with your homeowners insurance company. In these cases, insurance will pay to repair your home, although you might have to pay a small deductible.
One thing that you might be considering is doing the repairs yourself so that you can save money and pocket a little bit of the insurance check. Although it's certainly understandable that you might be trying to get a little bit of cash out of the deal, this usually isn't the best idea. Instead, it's usually smart to work with a contractor who is accustomed to handling insurance claims and repairs. These are a few reasons why you should hire a pro to help with making insurance repairs to your home.
1. Stay in Good Graces With Your Home Lender
As you probably already know, your home isn't completely yours until you pay it off. Until then, the bank owns part of your home.
What you might not know, however, is that the bank can complain if you don't have insurance repairs done properly. This is because the bank wants you to maintain the value of the home as collateral for your loan.
To help prevent problems with your home lender, it's best to have all insurance repairs done as well as possible, by a professional contractor who knows what he or she is doing.
2. The Repairs Might Cost More Than You Think
Home repairs can be tricky, especially when they are caused by natural disasters, and the original estimate might not actually include all of the damages to the home. If you start working on your home now, you might find that the problem is more serious than you thought and will be more expensive to repair than was originally estimated.
If you have a qualified contractor doing the work, he or she can get in contact with the insurance company and ask for more money for repairs. If you're trying to be sneaky and are trying to do your own repairs, however, this probably won't be an option.
3. Prevent Problems with Future Claims
If the work that is done in your home isn't done up to standard, you could risk having to pay for all future repairs on your own. For example, if your water pipes aren't repaired correctly and they soon start leaking and causing added property damage, you might be held responsible for all of this damage. If you had the work done by a professional, however, you should be able to have the damage covered by the contractor.
If you are thinking about handling your own at-home insurance repairs to save money, you might want to think again. These are just a few of the many reasons why it's best to call a contractor. Even though you might not be able to pocket any of the insurance money, you are sure to be happier with the results in the long run.