Now, you are wondering if that sum you received was enough to pay for repairs to your damaged real (Structure) property or lost personal items (Contents).
First, you need to understand whether or not the check(s) you received from your Insurance Company, was that their "final" offer, or was it just an "advance" on your total property insurance settlement. Very often, that is the case. Often, they hold back some amount of money which won't be released until repairs are complete. This hold back amount is usually referred to as depreciation.
However, if your insurance company says your payment was the "final" property insurance payment, then you should definitely have the immediate concern that it might not be enough.
And, you ask yourself "since I accepted and cashed the settlement check, is it all over?" Be sure you look at the check for any contractual language, on the front and the back. It would be rare to see anything like that but, before you cash it, check with your attorney if you see any language like that.
Well, if you are offered a "final" insurance settlement check(s), and you have cashed it, that is usually just fine. It is still no problem to reopen you claim, and to file for legitimate additional insurance money for your property losses. Most policies require your original claim to be filed within one year from the date of disaster. Check with your State's department of insurance.
It is always best to get a Home insurance in property insurance to secure your home from the structural components like fire, hurricane or theft. it covers all the damage done through the structural components.
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