Home Insurance Retention 30%

[RMakTee47]

My flood insurance claim has recently been agreed by the insurance assessors. They are holding 30% retention (€10,000 approx) pending receipt for invoices for renovation work done. Thats all OK, The problem is that their settlement offer says that the repair work must be finalised with all invoices supplied before the end of June or the file is closed and the retention amount will be lost. My builder is not available to start until after the August holidays. Can I challenge their finalisation date and say the works will be complete in September 2012, not June?

 

[itsallwrong]

Yes do and do it quickly. I did insurance work for my sister and the date lapsed on giving them in the final paperwork. They didn't pay the balance.
Make sure you agree everything with them. Insurances companies are great at finding ways not to pay you.
Also be prepared for them to supply you with a builder - they can if they want.