answersLogoWhite

0

Its your $$$ now !!! you can do with it what you want. * If the home is not still under a mortgage contract the homeowner is not obligated to use insurance funds for repairs of the property. However, if repairs are not done the insurance provider can refuse any claim if the flooring or adjoining structure is damaged further. If the home is still mortgaged repairs must be made as the lender would have to sign the insurance check as well as the homeowner/borrower. All mortgage contracts stipulate that the property must be kept in the same or better condition as it was when the property was purchased and lending agreement made. You could BUT that would be called insurance fraud... Lis@

User Avatar

Wiki User

18y ago

Still curious? Ask our experts.

Chat with our AI personalities

RossRoss
Every question is just a happy little opportunity.
Chat with Ross
LaoLao
The path is yours to walk; I am only here to hold up a mirror.
Chat with Lao
MaxineMaxine
I respect you enough to keep it real.
Chat with Maxine

Add your answer:

Earn +20 pts
Q: Can you keep house insurance money instead of fixing a damaged floor?
Write your answer...
Submit
Still have questions?
magnify glass
imp