Legal Question in Insurance Law in New York

hold back money

my home was destroyed by a fire caused by the negligence of a contractor i had hired. two questions: 1. can i sue the contractor for their negligence even though i have been partially reimbursed by my homeowners insurance (no injuries)?

2. my insurance co. is holding back a total of approx.$40,000 because they say i have to purchase my losses before they release the rest of the money. needless to say this is a difficult thing to do w/o the extra money. how am i supposed to purchase 35yrs. worth of property? furthermore, much of the property that was lost was old clothes, furniture etc. which i have no need to replace. aren't i still entitled to the money for the loss?

please help,

thanks.


Asked on 1/14/02, 10:14 am

1 Answer from Attorneys
Robert R. Groezinger GroezingerLaw P.C.

Re: hold back money

Hold back is a standard in the industry. Nonetheless, you can sue the contractor in negligence for the full amount and receive a credit for the amount your received as a set-off.

Any questions, feel free to contact me at [email protected] or call at either 212-764-5428 or 845-878-2163

Good Luck

RRG

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Answered on 1/14/02, 1:26 pm


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