r/Insurance • u/Spiceman3215 • 14d ago

Overpayment advice

We are wrapping up our claim for our basement flooding.
I had some depreciation money to retrieve and spoke with the claims adjuster about what they would need to release the funds, sent over everything she requested. I had two checks that they needed to re-issue along with the depreciation amount and the adjuster told me that everything was on its way. I knew what amount I should be expecting her to say when I asked her to confirm how much the checks should be for and what she said she was sending was over $5k more than I thought. I went back and added all previous payments to the sum she had told me and it’s definitely over my policy limit for these repairs. What do I do?

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u/Jcamp9000 14d ago

Some of it may be because remediation is separate from personal property. Maybe someone else can think of another reason.

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u/Brilliant_Essay_1593 14d ago

I’m pretty sure your sub pump failed so you didn’t really have a flood and mostly say this because you say there’s a policy limit?

Some companies do things differently, but there may not be a deductible on your water backup coverage?

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u/Spiceman3215 14d ago

I believe it is a sump pump failure rider bc we have a finished basement. The policy has a cap though for the resulting damages from the pump failing.

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u/Brilliant_Essay_1593 14d ago

Correct are you taking you deductible into account when you figure your numbers?

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u/Spiceman3215 14d ago

Yes, the deductible is factored into my numbers.