Homeowner’s insurance common construction, definition help needed?
The insurance company that provides homeowner’s insurance for my home, has proposed changing my policy to read common construction, from similar construction for replacement purposes. I would like to know what this means in practice. Does, it mean if my oak hardwood flooring is damaged, it will be replaced with some less expensive type of flooring?
Please give me other examples to consider.
Thanks in advance for your help.
That means, if you have hardwood floors, you get COMMON hardwood floors, usually pine, not oak. It means, if you have plaster walls, you get drywall. It usually means paint instead of wallpaper, plain mantel over the fireplace instead of hand carved.
It’s very common for older homesl, but if you’re not comfortable with it, start shopping around for a new insurance company that will give you similar construction. You need a new agent, anyway, if they weren’t able to explain this to you.
July 17th, 2010 at 8:53 am
That means, if you have hardwood floors, you get COMMON hardwood floors, usually pine, not oak. It means, if you have plaster walls, you get drywall. It usually means paint instead of wallpaper, plain mantel over the fireplace instead of hand carved.
It’s very common for older homesl, but if you’re not comfortable with it, start shopping around for a new insurance company that will give you similar construction. You need a new agent, anyway, if they weren’t able to explain this to you.
References :
July 17th, 2010 at 9:33 am
It means once again the insurance company has you by the balls and are giving less and less every year.
References :