[StBernard] State Farm Check

[Westley Annis]

See reply below 

-----Original Message-----
Dear Westley,
I received my check from State Farm today.   It was for the full amount for
structure and contents under my flood policy.  To my surprise the check is
made out to my mortgage company and myself.  The letter enclosed said "in
accordance with policy provisions, your mortgagee is included as a payee on
the building settlement.  Please contact them for their endorsement
procedures."  How much of a pain is that!!  I am greatful that it was
settled so quickly and I am fortunate that the amount of the check is more
than I owe on my mortgage.  Now I have to call the mortgage company and find
out what to do now.  Only the one check was sent covering contents as well.
Is my mortgage company going to make a check out to me for the overage?  Do
you have any idea how this will work?  I'm sure every mortgage company will
handle it differently.
 
Thanks,
Cindy

________________________________


Cindy,

I'm glad to hear you were able to settle so quickly with State Farm.  That
should give over State Farm policy holders some hope.

As for your mortgage company being listed as a payee also, that is standard
practice, since they own part of the house also.

I don't have a lot of experience with this, since I've only had to make one
claim against my homeowners insurance before. When I did it, I called my
mortgage company, got an address to mail the check to, they endorsed the
back of it and sent it back to me.  

Did everything using Fedex, sent a prepaid/pre-addressed Fedex label to get
the fastest turn around.

I'm not sure how your mortgage company will handle this, so best to call
them as soon as possible.

Westley