what does this mean? "I recognize that, should the payment received by contractor from my insurance carrier be insufficient to cover the c...

Question

what does this mean?

"I recognize that, should the payment received by [contractor] from my insurance carrier be insufficient to cover the cost of the repairs due to either my policy deductible, depreciation or non-covered items, then I, the homeowner, individually and on behalf of all co-owners of the above property, agree to pay for said work promptly upon notice from [contractor]. It is understood that techniques for completing repairs may change from what is originally estimated. The customer will receive full restoration of damages to a condition as good as or better than previously existed. The contractor will receive payment in full as specified by the Insurance Company. No credit will be given to the customer for alterations to the contract unless a written addendum is signed before the work is begun.

Answer

Apparently there is an insurance funding issue.

If the insurance payment is not enough to cover the repairs, you are liable for the balance and it is due immediately.

Also, that if you make alterations to the repairs (i.e., I want this material used instead of the original agreed materials) then you need to get that done in writing.