The first check you get from your insurance company is often an advance, not a final payment.
Most policies require claims to be filed within one year from the date of disaster.
When both the structure of your home and your personal belongings are damaged, you generally get two separate checks from your insurance company. You should also receive a separate check for additional living expenses. If your home is mortgaged, the check for home repairs will generally be made out to you and the mortgage lender. As a condition of granting a mortgage, lenders usually require that they are named in the homeowners policy and that they are a party to any insurance payments related to the structure. The lender gets equal rights to the insurance check to ensure that the necessary repairs are made to the property in which it has a significant financial interest.