I received a check from the insurance company endorsed to myself, and the bank, and the contractor…

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Jan 25, 2014

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Insurance Question from Elizabethtown, KY

Asked on 01/25/2014

I received a check from the insurance company endorsed to myself, and the bank, and the contractor… I have received a check from the insurance company for fire damages. The check needs to be endorsed to myself, the bank, and the contractor (currently working on the house). Who's money is it? What do I do with it from here?

Answer given on January 25, 2014

On a homeowner loss, the insurance company will sometimes make the check out to all parties concerned – the insured, the bank and the contractor. This is to make sure that the money is used properly and repairs are made. It can be difficult to get the bank’s endorsement since they are usually not a local company.If that is your case, contact the insurance company and ask if they will reissue the check to you and the contractor only. Often times they will be willing to do that. Sometimes the size of the loss, or the lender, can make this difficult, but it is worth asking.If your bank is requiring they be on the check, contact them as to the easiest way to get the check endorsed. If they have a local office you may be able to have them sign off. They may require proof that the work has been done, so you may have to wait until the contractor has completed the job.

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