Insurance and contractor quotes on trashed rental

[Jacqui Dolan]

Hi all,

I have a rental in Atlanta which has been trashed and have just had an assessor go through the property.  I am waiting to hear back on what will be considered vandalism/malicious mischief to get an idea of what will/won't be covered and what I will possibly be left to cover.

When I originally contacted the insurance company, they sent a restoration company that they work with to have a look (prior to the assessor) to see if my deductibles were more or less than the damage and whether it was worth me making a claim.  The fellow from the restoration company agreed the damage was well in excess of the deductibles.

My question is, are restoration companies who are recommended/work with insurance companies the best option?  Or once the assessor comes back with his figures, am I likely to get more competitive figures if my property manager seeks various quotes from painters/cabinet makers/flooring contractors etc. Whilst I want the best job at the cheapest price, I don't want the rehab to drag on forever. Would love to hear the experience of others in this regards. Thanks in advance,  Jacqui

[Ned Carey]

@Jacqui Dolan Hi and welcome to BP

My guess is that a "restoration company" will be much more expensive then you can get it done otherwise.  However dealing with a company that the insurance company already works with could make it simple and easy for you. 

Depending on the amount of work I might be tempted to just deal with it myself and not make an insuranc claim.  For example if your deductioble is $1,000 and the amount fo work is $2000, I wouldn't bother.  If it is $15,000 worth of work I would make a claim. 

A couple or a few thousand for a turnover of a rental is just the cost of doing business. Insurance claims especially multiple calims can cause your rates to go up or be canceled.