Multi Unit building got on fire. Does the insurance company pay the owner directly?

**Duc1198** · 09-28-2011, 10:01 AM

A friend of mine owns a small apartment complex and one of the buildings got on fire last week. He wants me to supervise the construction work and get bids from contractor. Does the insurance company pay him directly or do they pay the contractors that we hire? Does it work like car insurance where you can actually keep some of the money they pay you to fix your car? Need to know if we should really shop around for contractors or not worry too much about getting the lowest bids.

**gotlivechat** · 09-28-2011, 10:25 AM

I would think it depends on the insurance company -- it would be best to ask them. In terms of getting bids, your friend should care more about reliability (and ability) in repairing the complex than just bid cost. Not all contractors are equal in skill

**Greg** · 09-29-2011, 05:53 AM

These are all questions that need to be directed to the insurance agent. Only they know the limits of the coverage and how the process works. One thing for sure is all of the contractors will probably have to be licensed including yourself.

**makkallister** · 11-07-2011, 11:32 AM

I would anticipate it depends on the allowance aggregation -- it would be best to ask them. In agreement of accepting bids, your acquaintance should affliction added about believability in acclimation the circuitous than just bid cost. Not all contractors are according in accomplishment.