We had a bad fire in our house and total to repair was over our policy limit. The insurance company gave us check with the mortgage company (bank) name, mine and my husband name on it. Because it was a large amount the bank is holding the check and sending checks out as property is getting repaired. They state they can not send us check in full. They are saying they have to see paid invoices from my builder before the send check...how are we suppose to paid the builder without the MONEY!and if the builders estimate is alot higher than our policy limit why should it matter?The bank finally send out an inspection to evaluate progress to insure we are using money to repair after my builder and i keep asking them to send someone for them to confirm progress.Also our policy limit includes our living expense so like I said it was max out.This that right for mortgage company to do this
State: 
Texas

About The Expert

Amy Bach

Amy Bach has been a professional advocate for insurance policyholders since 1984 and an attorney since 1989. While practicing insurance regulatory law and representing clients in litigation matters, she co-founded United Policyholders in 1991. Bach migrated from the private practice of law in 2005 to become the organization's full-time Executive Director and primary spokesperson; shaping and overseeing the Roadmap to Recovery™, Roadmap to Preparedness, and Advocacy and Action programs. She is a nationally-recognized expert on insurance claim and legal matters; frequently interviewed in print and broadcast media, and the author of numerous legal and consumer publications including "The Disaster Recovery Handbook," "WISE UP: The Savvy Consumer's Guide to Buying Insurance," and tips and guides in the UP Claim Help Library.  Recognized by Money Magazine as a Money Hero, Bach has served as an official consumer representative to the National Association of Insurance Commissioners since 2009 and is in her second term as an appointed member of the Federal Advisory Committee on Insurance. She also currently serves on the American Bar Association’s Standing Committee on Disaster Preparedness and Response.