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Question 7 of 16 in Claim Settlement |
How willthe company pay me? |
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Depending on the nature and extent of the loss, as well as the individual practice of the insurance company, they may
1. cut a check or draft to you directly,
2. have the settlement proceeds placed in escrow for payment to contractors, materialmen, and other laborers, or
3. set up an account from which the proceeds will be distributed.
Some companies have contracts with contractors who provide the repairs and then bill the company directly.
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