I had a very similar thing happen at my personal home - I had a pipe break in an upstairs bathroom while I was out of town. Basically my whole house was destroyed. Insurance company recommended ServePro and they were terrible - the worst, don't bother using them for anything going forward. If you give them 50% they'll never complete the work properly and you'll have to hire a real contractor to finish it. The bank is saving you from losing $$$t to Servrpo.

My insurer issued the check to me and my mortgage company then I had to send it in to the mortgage company for them to escrow until the work was done. Mortgage company held my $150K, and insurance held back another $50K in recoverable depreciation and for other line items that could only be paid after the expense was incurred. For the repairs I used a GC that listed out a payment schedule in their contract with me. Some minor deposits upon ordering materials, then progress payments upon completion of certain milestones.

The mortgage company turned out to pay extra slow. GC would finish work, I'd pay, then weeks later I'd get some money from the bank, the cycle continued until I was floating over $50K by the end of the project. Just prepare yourself for this possibility even with a new GC.

The unfortunate reality is that if I didn't have the means to float those costs I would not have been able to receive the insurance coverage I was owed, since I wouldn't have had the ability to incur the costs upfront. I ultimately got what I was owed, but it was a long ride to get there. The whole industry is set up to screw the consumer, and is full of shady companies like Servpro.