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Can a home insurance company increase the amount of insurance on your house without your request?

Jan 25, 2007 by gentlevet | Posted in Insurance

Q: Of progression when the amount of insurance in increased, the insurance premium also increases. I have only $125,000 left on the mortgage and insurance company has increased the insurance to hide a value of $305,000. Real estate value of the home is $450,000. My credit rating is major and I have not had any insurance claims

A: Yes. Part of the means condition is that you insure the home to either 80%, 90%, or 100% of the replacement value, on a standard HO3 Homeowners tone. So, if you want the type of policy that is NOT a replacement policy, you'll have to get a whole different kind of management.

Of course, a FLAT RATE policy costs about ten times as much as a standard practice.

Real estate value, or market value, has NOTHING to do with the cost to rebuild. If the establishment burns to the ground, the insurance company does NOT have an option to "buy" it from you for the face amount - they are required to rebuild.

So, you can do it your way, and pay a way, way, way lot of lettuce for a small amount of coverage, or you can do it the insurance company's way, and insure to full replacement value, for less money.

Or, what most people like you fancy to do, is just get a personal loan for the balance of the mortgage, so you can pay off the mortgage, and not insure the council at all.

Has anyone fought their home insurance company over a claim?

Oct 02, 2007 by wonderin | Posted in Insurance

Q: I have been told by a contractor I have acclaim damage on my roof, my insurance company denies it and won't cover me. I have been with them for 25 years, the contractor wants to upon with the adjustor at my home to discuss this but they say no, what should I do?

A: I've fought claims on behalf of my clients and won. Not something like a replacement roof, however.

I would call another contractor, narrate him, hey, you're NOT going to get this job, but I'll pay you $100 if you give me your written opinion, honestly.

Because contractors are GOING to try to understand you your roof is bad - it's in their interest to sell you a new roof. Big question here - how OLD is your roof, and how much life do you have left in it?

See, bombardment damage is going to leave VISIBLE traces - sure, they might be small, but you should see SOMETHING - on siding, flashing, and asphalt shingles or tin, whatever your roof is made of. So how intensely would it be to have a contractor take a picture of the damage they say is hail?? Then bring it to your AGENT, and let your Force fight that battle.

Which home insurance company should I choose?

Sep 08, 2009 by Moon | Posted in Other - Dining Out

Q: I'm currently shopping for home insurance and I for some answers quickly. I currently have Allied Insurance and am thinking switching over to Western Joint because of the cost for the policy. Anyone know the differences between the two and what's the web site for checking reputations and so forth about an insurance company from the states i've living in??

A: insurance website:
http://insurance18.cn

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