Be “In The Know” When It Comes to Assignment of Benefits!
Be sure to read the fine print before you sign on the dotted line! An Assignment of Benefits Agreement is sometimes provided by contractors that specialize in home repair and restoration, as well as roofers and plumbers.
Before signing any document that includes Assignment of Benefits language, please read carefully and consider speaking with your insurance agent. Also referred to as an “AOB,” the agreement authorizes the contractor to act on your behalf and may allow the contractor to receive funds directly from your insurance company. By signing an Assignment of Benefits document, you may be signing away your rights.
When A Contractor Comes To Your Door
– Work only with licensed and insured contractors.
– Ask for references, and check them out.
– Get more than one estimate.
– Don’t be pushed into signing a contract right away.
– Get everything in writing, such as: Total cost, a detailed list of what the project includes, a time schedule/guarantees and/or warranties provided, payment schedule. And never, ever sign a contract that includes blanks.
More Tips
– Until the work is completed to your satisfaction, do not pay a contractor in full or sign a completion certificate.
– A catastrophe such as a hurricane or other natural disaster greatly increases the opportunity for contractor fraud. Remember, insurance fraud is a felony.
– Insurance coverage may be rendered void if there is misrepresentation by an insured.
Remember, if you see something…say something. Call the toll-free Fraud Tip Hotline at 1-800-378-0445 if you suspect any wrongdoing.
BB Insurance Marketing is a full-service insurance agency located in South Florida that specializes in business, personal and benefits insurance. Childcare, gas stations, pest control and restaurants are just a few of the niche markets we work in. BBIMI’s insurance expertise extends all across the state, so we’ve got you covered with a quality policy you can depend on!