FREQUENTLY ASKED QUESTIONS > Insurance Questions > How does my claim get paid?
Deductible:
The deductible is the part of your claim that your insurance company does not reimburse you for. This payment goes toward the restoration of your home and is due prior to starting the work. It can be paid by a check made payable to “Champion Construction Systems, Inc.” or by a credit card.
Insurance Company Check:
Once the estimate has been approved by your insurance company a check is usually sent to you. This check will be payable to you and to Champion and will be endorsed by you at substantial completion of the project or at a prearranged stage of the project.
Mortgage Company:
Larger claims will also be made payable to your mortgage company as they have a vested interest in your home. Checks that include your mortgage company will require your participation to have them endorsed in a timely manner.
Mortgage companies will only release all the funds at the completion of your project or portions of the funds at prearranged stages of completion. Each mortgage company has their own set of requirements before they will release these funds.
Although it is your responsibility to have these funds ready in a timely manner, Champion will be glad to assist you in this sometimes confusing process. To assist you we will need the name of your mortgage company (or companies if there is a second lender), their customer service telephone number, and your loan number. Additionally, we will need a letter of authorization from you to allow us to deal with your mortgage company on your behalf.
Caring for this at the beginning of your project will help to keep it moving in a timely manner and meet the due date for payment of funds.
Change Orders:
Change orders that incur additional expense beyond what the insurance company owes are due at the time the order is signed.
Payment Due:
After substantial completion of your project, Champion will expect payment in full within 30 days to avoid the finance charges outlined in the Work Authorization. Small punch-out items are covered in our full two year warranty.
Last updated on October 31, 2011 by Champion