Learn about your rights as an insurance consumer
Know Your Rights: 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…
The National Insurance Crime Bureau (NICB) offers these recommendations:
Work only with licensed and insured contractors. Ask for references!
Always get more
than one estimate.
Don’t be pushed into signing
a contract right away.
Get everything in writing.
Total cost and payment schedule
Time schedule, guarantees, and warranties provided
Detailed list of what the project includes
Never, ever sign a contract that includes blanks.