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Self-repairs and cash-outs

It is not uncommon for a homeowner to want to cash settle their building damage claim, for any number of reasons, including wanting to do the repairs themselves or putting the cash toward a renovation upgrade that they had in mind.

When determining how you want to settle your claim, it is important to be familiar with the basis of loss settlement in your own policy. Generally speaking, a policy allows two options for settlement:

But what if the homeowner wants to repair and claim repair costs without depreciation, but does not want a restoration contractor doing the work? Can a homeowner do their own work, or act as their own General Contractor for the work? Generally speaking, the answer is yes. However, there are a few things a homeowner needs to be aware of when doing the work themselves or acting as their own General Contractor, such as:

For more information, or to get a quote on your home insurance, contact Square One at 1.855.331.6933.