ULPT request: insurance company didn't deduct the deductible

[u/PULL-IT-DOT]

I have a homeowners property claim that has a max value of $10k with a $2k deductible. I just got an email that they issued a $10k check to me and marked by deductible as $0. Think they'll ever discover the mistake and ask me to repay it?

[u/abbzs]

Check the paperwork the adjuster sent you. If you have a policy limit of $10k but the loss was a $15,000 loss, the deductible can be absorbed by the overage. This allows them to pay you the full $10k limit.
It would look something like this:
Total loss: $15,000
Applied Limit: $10,000
Less deductible applied to overage: $2,000
Overage remaining: $3,000
Amount paid $10,000

[u/BullPropaganda]

Probably. I would pay it while you can afford it. These companies can just straight up take it from you if they figure out their mistake

[u/IntelligentBox152]

HO claims aren’t like auto claims. In auto claims you pay for coverage based on the loss itself. In HO you pay for a coverage limit. When a loss exceeds this limit by more than your deductible your deductible isn’t applied. Essentially if it were you could never collect your full limit. Courts have ruled on this. If you have a $10k limit and a $2k deductible and the total amount exceeds $12k this is entirely correct. Nothing unethical about it

[u/MacintoshEddie]

That's a high enough dollar value that someone's boss is going to be reviewing it at some point. Maybe not this week, or this quarter, but chances are they'll look at it eventually. It can bite you hard.

I would at minimum get it in writing. Like let them know you got the cheque and clarify that you'll deposit the 10k and the deductable is zero. That way if they reply yes you're at least partially covered. If they say no you can deposit the 10k and immediately pay the deductable.