Skip to main content
(888) 485-4400

How to Make a Homeowners Insurance Claim

September 7, 2023 By: Great Midwest Bank
Woman stands staring at a hole in the roof of her house from the inside with a cell phone pressed against her ear.

Filing a claim on your homeowners insurance is hopefully not something many of us do very often. When your property is damaged, though, it’s important to know what steps to take and in which order you should take them. This is especially important if you haven’t yet paid off the mortgage on your home. We’ll outline the steps to take for a smoother insurance claim process, but before we do, let’s talk about why we—or your mortgage lender—is involved in an insurance claim in the first place.

Why is your mortgage lender involved in a homeowner insurance claim?

Let’s assume your mortgage loan is through us. Since your home mortgage is with Great Midwest Bank, we need to be involved in the homeowner insurance claim process. Your mortgage lender is listed on your insurance policy until your mortgage balance is fully paid off. This means GMB will be listed as the mortgagee on the check in addition to all homeowners.

As your home mortgage lender, we have your best interests at heart. We want your home to be restored to as good as or better condition than your home was before the incident that damaged it.

To ensure that happens, we monitor the repair process and work with the homeowner(s) to ensure they are satisfied. We’ll periodically check that your home repair work is on track with the agreed-upon timeline and budget.

In order to make sure this process goes as smoothly as possible, we request that all homeowners who have their home mortgage through us follow the process as listed below:

Step 1: Reach out to GMB before you find a contractor.

Once you receive the claim paperwork from your insurance company, contact us at GMB.

Reach us via phone at 262-784-4400 or by email at

Calling or emailing loan service from the start—before you secure a contractor—will greatly help the process! GMB is here to help protect you.

Please note that the claim check is only good for 90 days and needs to clear before disbursing funds. Don’t let the claim check sit—contact us as soon as possible to keep the claim process on track!

Step 2: Gather your insurance paperwork.

Next, gather together all your insurance paperwork. This includes:

  • Claim summary
  • Claim check

Great Midwest Bank will need copies of this paperwork. Your claim check will be deposited into an insurance escrow account tied to your loan that we will use to pay for the repairs.

Step 3: Find a contractor to complete the work on your home.

You’ll now need to secure a contractor to complete your home repair work. GMB does not have a preferred contractor list, so you may use any contractor you like.

Once you have signed a contract, email it to

GMB will not release more than half of the claim amount upfront. Typically, we release about one-quarter to one-third of the claim amount for work to begin. Please note that this is to protect you! Don’t be afraid to use us as the excuse for due diligence! We don’t want you to fall prey to predatory or dishonest contractors. By being involved, we help ensure that there are enough funds to complete the project and that it is completed to your satisfaction.

If you are aware of the timeline from your contractor, let us know!

Step 4: Complete the Claim

When the work is completed, GMB will need a lien waiver before we release the final funds.

Be aware that GMB may request photos of completed work or do an inspection before releasing funds.

GMB will not release funds without your consent! We hold the funds to ensure that the work is completed to your satisfaction.


Steps in the claim process may vary by lender and circumstance. Make sure to always communicate with your insurance company and lender to ensure you understand what is needed.

Let’s Get Started!

If you’re beginning a homeowner insurance claim, we’re ready to help you navigate through the necessary steps. Don’t wait to reach out to us! We’re ready to answer any questions you might have. Our team knows homeowner insurance claims can be a stressful process, but we aim to make it as easy as possible for you. Experience a state of Bankquility® at Great Midwest Bank!

Additional Resources

Homeowner Insurance Check Procedures

Posted in  Home Mortgage Loans