Insurance Companies

After Hurricane Ike, there were severe damages to our house (basically put, it was an uninhabitable home), and after speaking to our insurance company and having an adjuster come out and assess the damages, the amount they are willing to provide is not even remotely on par with the amount it will actually take to fix. The house has full coverage and after speaking to various contractors, they don’t feel that whats being given will satisfy what’s needed to fix the core damages. The insurance company suggests that only the superficial appearance of the house needs to be fixed even though there was flooding, significant roof damage, etc.

My question is as follows:

"What can i do if I disagree with what the insurance company is willing to give in order to repair damages?"
Is there anyone in between the insurance company and myself that could determine the fairness of the amount they are willing to provide?

Ask the contractors to write up their recommendations, submit this to your agent with the adjusters numbers and explain that you believe the adjuster missed several items. Ask them to take it under advisement. If they refuse to pay for actual damage then you will have to see a lawyer and you will be forced to sue for the amount they should have paid as well as legal fees. If they know you are willing to do so then they should do the right thing… (don’t you love it when a company’s bottom line is more important than reliability and service?)

The conviction does not relate to any form of theft or dishonesty

A criminal conviction in the U.K. is a material fact if the conviction involves dishonesty, irresponsibility, or criminality that is ‘repugnant to ordinary social or business standards of integrity’ and is either related to the risks insured or induces a reasonable insurer to apprehend greater than normal moral hazard. Certain convictions in the U.K. with mild sentences become “spent” and are therefore ignored for all purposes, including insurance disclosure, after a certain amount of time and depending upon the sentence. (The Rehabilitation of Offenders Act 1974.)

The house is currently in the redemption period, and the owner still technically owns it for the next six months. The owner is renting the home out to two tenants.

I called insurance companies and some said they could provide it but they would have to inspect it (it is not officially my home yet so an inspection is impossible). Another company said they could provide what is known as landlord insurance, but this will not cover replacement appliances (say the current owner decides to steal the furnace, air conditioner, etc because he is losing his home). Any advice is greatly appreciated.

The Sheriff should give your a Sheriff’s Deed when you paid him the money. You are in fact the current owner and the old owner while has the right of redemption, is no longer the owner of record.

Many insurance companies do not require an inspection before they insure a property, but only maybe a drive-by with a picture of the front of the property.

Try an insurance company that specializes in insuring non-owner occupied properties. I would suggest Safeco Insurance, Allied, or First American Specialty. Also check with an independent business insurance broker, they all have companies that might meet your needs. They probably won’t require an inspection and they will cover personal property in the amount you want to buy. Also if any appliance is attached to the structure it is not considered personal property but a part of the premises. A furnace or any built-in appliance is not personal property. Mercury Insurance is another possibility, but often they do require an inspection, but often it takes them several months to get out and do the inspection.

Since you are the new legal owner you have the right to evict the current tenant…..the old owner doesn’t have any legal standing except for the right of redemption.

a list of house insurance companies similar to the one for gas and electricity companies

I don’t think this is either possible or sensible – one of the most important factors of house insurance is the cover provided and details of the risk to be insured and there are too many variables to consider creating a ‘one-size fits all’ list. After all if you own a £3 million flat in Mayfair full of antiques then you probably have different needs from someone in a two bedroom terraced house in the middle of Sunderland. (No intention to criticise Sunderland – I support the football team!)

My advice would be to go to a local insurance broker, advise them of your requirements and let them find the most suitable insurance company for you. At the moment the advice is probably free and if you have any problems they are there to help you. If you want to waste hours looking for insurance when you don’t know what the cover is or how good the insurer is then I suggest you try the internet.

Here in Ma, insurance companies run credit checks on people before they give you insurance. I have horrible credit so I get screwed and have to pay about $1000 more for insurance than I usuall would. It shouldn’t matter about my credit because the insurance is part of the escrow so the nortgage company pays it. In fact I had paid for a year up front last year. The insurance company cashed my check it cleared then they ran their credit check and said they wouldnt insure me. I am just getting tired of getting screwed by the MAN. Any help would be greatly appreciated

Vermont Mutual writes in MA & does not do a credit check. Look in your local phone book – they only write coverage through independent agents.
Or, try their website – www.vermontmutual.com & click on find an agent & you should be able to find an agent in your area.
Also, any insurance company that runs credit should run it BEFORE they bind coverage. All the companies that we use do this.

Anybody know what companies offer house insurance(fire,flood,storm,accidental damage) cover in the Philippines?A bonus would be a company that I can get an online quote!If not,just any reputable general insurance company that offers house insurance.
Thanks.

There are no insurance companies that will cover you by "acts of god" like flooding or storm damage. Also they will not cover wooden structures, only cement buildings. We use Prudential of the Philippines for our homes and cars. You’ll have a hard time getting an online quote. You’ll need to go in person.

Hiya:

You don’t have to actually insure all the people in your household.

If you don’t have them added to your policy – then they HAVE TO be excluded.

Here’s why:

1 – In any household there is the possibility that any ‘of age’ drivers could drive your car. If there is a possiblity that any one of age would drive your car – the insurance company needs to be aware of ALL risks. They need to establish a risk profile and set your premium accordingly.

Here are some scenarios for you.

Let’s say your brother of 23 lives with you. He drives your car on a regular and frequent basis. He is NOT listed on the policy and gets in an accident while driving your car

Auto policies specifically exclude coverage for any blood relative living in your household that is not listed on the policy.

But here is something else to consider. Let’s say you have a friend/neighbor who has keys to your car and has your permission to drive your car whenever they want to. Guess what? Auto policies specifically exclude REGULAR and FRUQUENT drivers of your vehicle unless they are ADDED to the policy.

Yeah. Not so good, huh?

Can you lie?

Nooooooooooooooo. Material misrepresentation on an insurance application is FRAUD. Punishable under the law.

If you don’t want to pay for all those people – just tell the agent that. No biggie, really. And tell all those people you DON’T add to the policy that they need to get their own insurance.

Okie dokie?

Goodluck!

~jifr!

the depreciation payment after work is done and the insurance company knows they sent too much money?

You receive up to the full cost to replace the damage, less your deductible.

You don’t get MORE, if you bought a cheaper grade siding, for example.

We recently had one of our water pipes brake and when I arrived home i noticed half of our house was under water. My camera was on the floor in my room and is now broken. Is there any way that my insurance company can help me with that?

Yes, homeowners frequently covers damage to contents, for named perils.

Water damage to contents from a burst pipe, usually isn’t one of them, but as you’ll be filing a claim anyway, include all the items damaged with your claim.

My kids have managed to break the toilet bowl and the shower tray in our main bathroom.I know that the shower tray replacement involves re tiling as we had to get it done in the en suite and it proved quite expensive.I don’t normally like to claim but it’s quite a lay out at this time of year but am not sure if insurance companies cover these things.Does anyone know?

homeinsurance.awardspace.us – try this one. Got my home insurance from them. As I know they provide such a service.