Insurance claim for kitchen
This is my first time making a insurance claim because I usually just swallow any minor damages so I won't get dropped or see my rates increase.
But, my kitchen underwent so much significant damage that I had to make a claim. Everything except the kitchen sink and appliances had to be replaced; I needed to get new flooring, new cabinetry, new countertops, etc..
But, my insurance came up with a lowball offer of under 10K for the entire kitchen. I knew a kitchen remodel was going to cost significantly more, but I expected my insurance to come up with all these loopholes and other shenanigans to avoid paying for it.
So, with that budget, I was planning on saving money by using inexpensive particleboard cabinets like Ikea and stuff like that even though my original cabinetry were plywood. At the same time, I was sending my insurance an estimated cost for replacing my original plywood cabinets with plywood cabinetry that would cost way more than Ikea cabinets even though it came was from a moderate, not top of the line, cabinet manufacturer.
And, in a pleasant surprise, my insurance has approved that estimate for the plywood cabinets. My 'dilema', if you can call it that, is do I still need to buy those plywood cabinets now that the insurance has approved those plywood cabinets?
I don't want to leave money on the table by buying cheaper cabinetry than what the insurance is willing to reimburse me for.
But, could I just buy the Ikea particleboard cabinets and pocket the rest of the money that would have gone to buying the more expensive plywood cabinets? My friend got in an car accident and the insurance issued him a check to fix the damage to the car but he ended up pocketing the money instead of fixing the car and I was wondering if there was a difference between our situations.
Or, could I just buy the Ikea particleboard cabinets and use the difference to splurge on the rest of the kitchen. My original countertops were tile, and I'm planning on upgrading to granite countertops.
If the insurance issues me a check for something like 30K and I end up spending 30K for the kitchen, is that all kosher even though I spent significantly less for the cabinetry than what the insurance approved?