Better to err on the side of caution rather than face criminal charges.įor a free legal consultation 80 Insurance Adjusters Determine the Cost of Covered Losses You could be accused of insurance fraud if the insurance company later discovers the error without you notifying them. If the insurance check exceeds your repairs, keeping the extra money is not a wise option. How each insurance company handles overpayment varies on a case-by-case basis. However, they may also ask you to fill out a form returning the excess money to their agency. In some situations, they may allow you to keep the funds if you incur other damages related to your claim. How the Overpayment is Handled Depends on the Situation After you have exhausted these options, you will need to contact your insurance company to notify them that the insurance check is more than the repairs. If a natural disaster damaged your home, talk to your contractor about the possibility of future repairs that need to be made. It is possible that you were not overpaid. For instance, if you were in a Florida car accident, speak with your mechanic to make sure that all necessary repairs have been made to your vehicle. First, you need to be completely sure that your insurance company overpaid the cost of your claim.
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