Legal Question in Insurance Law in Illinois
Is it aginst the law to wave a customers or a insureds Detuctable on a Property loss Claim ?
As a Restoration Contractor, example a insured customer for property loss his or her Deductable payment is waved of discounted to get better consideration for the restoration job?
Chris
Asked on 6/23/10, 8:43 pm
1 Answer from Attorneys
It is up to the insurance company. And it's not really waived to get a discount. It's to prevent insurance fraud. Because what often happens is in order to "cover" the deductible some unscrupulous contractors will connive with owners to "bump up" the bid to cover the deductible and then after the insurance money is issued there will be a "rebate" or change order that backs out the deductible but the contractor is still paid in full.
Answered on 6/24/10, 8:14 pm
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