Initial payment
May reflect deductible, actual cash value, undisputed scope, policy limits, or only one category of loss.
Claim Payments
One claim may involve several payments serving different purposes.
Mitigation, building repairs, contents, temporary expenses, payment adjustment, scope updates, and mortgage draws may be handled separately.
Recoverable payment adjustment
May become available after eligible work is completed and documented, subject to policy terms and deadlines.
Mortgage-company involvement
The lender may be included on repair payments and may require endorsement, inspection, contracts, or draw procedures.
Payment ledger
Recording date, amount, category, payee, payment adjustment, deductible, and lender status helps reconcile the claim.