Across
- 2. ___ checks (EChecks) from the insurance co are acceptable but require verification.
- 6. The process where a check is signed and sent back to the borrower.
- 7. Loss Draft issued by the insurance company as payment for the damages
- 12. The actual cost to replace a structure at its pre-loss condition
- 14. For Monitored Claims, we deposit the check in our client’s escrow known as a ___ ___.
- 15. A document the borrower fills out that states they intend to use the claim funds to repair the home-AKA Owners Affidavit
- 17. The estimate signed by the borrower listing all repair to be done
Down
- 1. A document stating that the contractor agrees they have been paid, and based on that payment, they waive their right to put a lien on the house for what they have been paid so far. If paid in full, they waive their right to place a lien completely.
- 3. The total issued by the insurance company after the deductible & depreciation have been removed from the Replacement Cost Value
- 4. The amount the insured is responsible for in case of a loss
- 5. A list of materials needed to complete the repairs.
- 8. a detailed assessment of everything the adjuster finds during their investigation to support the insurance company’s liability regarding paying out the claim.
- 9. The entity that represents the homeowner in a court case.
- 10. An examination of the condition and safety of the home.
- 11. The process where the check is deposited and funds are disbursed throughout the repairs.
- 13. The value of the damaged or destroyed item(s) at the time of the loss
- 16. The value of a property that is lost over time due to factors such as age and wear and tear.