1.
The process where the check is deposited and funds are disbursed throughout the repairs.
2.
The entity that represents the homeowner in a court case.
3.
Loss Draft issued by the insurance company as payment for the damages
4.
The estimate signed by the borrower listing all repair to be done
5.
The total issued by the insurance company after the deductible & depreciation have been removed from the Replacement Cost Value
6.
A document stating that the contractor agrees they have been paid, and based on that payment, they waive their right to put a lien on the house for what they have been paid so far. If paid in full, they waive their right to place a lien completely.
7.
a detailed assessment of everything the adjuster finds during their investigation to support the insurance company’s liability regarding paying out the claim.
8.
The actual cost to replace a structure at its pre-loss condition
9.
The value of a property that is lost over time due to factors such as age and wear and tear.
10.
The value of the damaged or destroyed item(s) at the time of the loss
11.
The amount the insured is responsible for in case of a loss
12.
___ checks (EChecks) from the insurance co are acceptable but require verification.
13.
For Monitored Claims, we deposit the check in our client’s escrow known as a ___ ___.
14.
A list of materials needed to complete the repairs.
15.
The process where a check is signed and sent back to the borrower.
16.
An examination of the condition and safety of the home.
17.
A document the borrower fills out that states they intend to use the claim funds to repair the home-AKA Owners Affidavit
