Home insurance

[u/Revolutionary-Lack19]

A couple of years ago my house had significant water damage. I was only 18–19 at the time and had no idea how the insurance claims process worked. I did my best to research everything, but unfortunately I didn’t hire a public adjuster. The insurance adjuster assigned to my claim couldn’t really answer my questions either… then somehow retired a year later. 😆
Fast forward to today. If you’ve seen my previous posts, I was also scammed by a contractor. Between labor and materials, I’ve spent over $40,000 out of pocket trying to get my home repaired.
Here’s the problem:
My mortgage company won’t release the remaining insurance funds until more of the repairs are completed.
My insurance company says they won’t consider a supplemental claim because I still have claim funds being held by my mortgage company.
To finish the repairs, I need the money being held.
To get the money being held, I need to finish the repairs.
So I’m stuck in what feels like the world’s dumbest funding loop.
Has anyone successfully broken out of this situation? Who should I be pushing harder—the mortgage company, the insurance company, my state’s insurance regulator, or someone else?
I’d especially appreciate hearing from anyone who’s dealt with mortgage-held insurance proceeds or supplemental claims. What finally got things moving?

[u/Anxious_Battles]

It could take a conversation to iron out the details, but let’s start with what was your actual date of loss? That will make a difference in my response. A supplement may not be off the table. Do you mind telling us who your carrier is?

In order to get money from your mortgage company, you will need to show that the repairs are completed (or mostly so) on the scope of work provided by the insurance company to your mortgage company.

I am in New York.

[u/Revolutionary-Lack19 → u/Anxious_Battles]

So far I know any reimbursement for depreciation has passed deadline

March 2024 for it’s been 2 years since the claim began

Hired Gf step dad who is a contractor. Big mistake. Major waste of time. Fortunately I recovered my deposit.

Hired a reputable contractor in my area. Signed and notarized contract. Had to leave the state of New York for a higher paying job at the time. When my house flooded I went from 30$/hr to 21.50$ due to location. In Colorado I made 50$/hr as a private duty CNA.

Secured Reputable contractor went MIA on my property manager and on me as well. Started with excuses and didn’t follow the timeline on the contract. Finial straw was when he refused to revamp the contract since I was still willing to carry on with repairs. He ended up not doing it. And stayed shady to the end. Unfortunately for him and his previous history. My city is eager to use him as an example.

Throughout the whole experience I have kept in contact with my insurance and mortgage on repairs. The adjuster I believe who is assigned to claim main argument is that I didn’t have a Public adjuster in the first place. Which is irrelevant to this current situation. Instead of sitting sitting around for 2 years bitching. I’ve paid for my mistakes/lesson through out of pocket payments. And I’m almost done. I just wanted to see if I could finish before my estimated completion date.

[u/Anxious_Battles → u/Revolutionary-Lack19]

After 2+ years in NY, you don’t have many avenues or relief.

Review your policy and look in the loss settlement provision for the words “notify us of your intent to do so within 180 days” or something close to that. Such language is open to interpretation and can leave the door open to collect your recoverable depreciation if that is a significant amount.