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Posted: 5/4/2002 2:06:25 PM EDT
[Last Edit: 5/4/2002 8:13:36 PM EDT by lazyengineer]
...demand that you send them a copy of your house inspection? My soon to be new home is 70 years old, there's a few things wrong with it that I'm going to fix, but now my insurance company is demanding that I FAX them my inspection report. They're also demanding that simple stuff like replaceing 20 Amp breakers w/ like 15 amp units (to agree w/ the wire gauge) be done by a certified electrician ($$). Are they all this way? This is aggrivating and I suspect is going to blow my budget to Hell. I can't wait to hear what they demand on the old hot water heater that's shot or any of the other dozen things I was planning to fix, but fix myself.
Link Posted: 5/4/2002 2:16:35 PM EDT
I'd tell your insurance company to go to hell and look around for a new insurer. I've owned over a dozen houses in the last couple of years. I'm a real estate invester. I've never had a house inspection done and don't plan on ever having one. I've used Nationwide Insurance for 7 years and never had them ask me to do anything on a house I owned. In my opinion it sounds like your insurer is pretty damn intrusive. Try Nationwide. I'll bet they'll be a hell of alot easier on you. CAPITALIST
Link Posted: 5/4/2002 2:31:08 PM EDT
Link Posted: 5/4/2002 2:41:53 PM EDT
Agree with the other responses. My great-nephew recently went through this with his insurance company. They demanded he pay a local home inspector $1,800 for a "complete" inspection on his $50,000 house. That's 3.6% of the price of the house to just have someone look at it and tell you what they think is wrong! Before talking to me, he settled with them for a $250 inspection. This guy came-up with only $45K worth of required repairs to the house. The inspection included an estimate of how much more the home would be worth after completing the items listed, and it was $8K more. Uhh, spend $45K to make it worth $8K more? After talking to me, my great-nephew shopped around for a new home insurance company that didn't require an inspection. The new one was also cheaper. Don't let them sucker you into their "contractor welfare" program.z
Link Posted: 5/4/2002 2:58:26 PM EDT
I agree insurance companies have gotten to used to having their own way. Tell them to f**k off and choose another one, there are lots of fish in the sea.
Link Posted: 5/4/2002 3:10:05 PM EDT
Usually it is the sellers responsibility to bring the house up to code??? At least I think that is the case. But I guess to a cities housing codes and an insurance co. codes my be two different things. Ben
Link Posted: 5/4/2002 3:13:47 PM EDT
Which company?
Link Posted: 5/4/2002 3:22:10 PM EDT
He didn't care about an inspection report, but did ask about reloading. He saw some things in my truck and asked if I stored gunpowder. I told him I did nothing illegal and refused to answer any other questions on the subject. Eddie
Link Posted: 5/4/2002 8:10:39 PM EDT
[Last Edit: 5/4/2002 8:17:23 PM EDT by lazyengineer]
The ins. company will for now remain unnamed. Normally, they're great (Car, house financing, etc), but on this I'm pretty bummed. I basically told them I ain't sending it to them. To which they then demanded that I send it because I'm obviously hiding something. From there the conversation went south. Everyone I've talked to says to tell them to go to Hell, and I even come to find out that their prices aren't competitive (from my brother), who also ended up w/ Nationwide. (I keep hearing that name...) Oh, and the seller's resposible for repair -- if the purchaser demands it and the seller agrees. But he can say "bite me, take it or leave it", and he probably will - I know I will when it's time to sell. He chose to give me a reasonable, but not complete, kickback. Can't complain, but if I have to hire professionals for everything.... I think I'll call some other insurance providers, there's lots of em in the yellow pages. Thanks for feedback, when your new to this, you don't know what's standard. Often bending over is part of the process... but perhaps not on this issue this time afterall.
Link Posted: 5/4/2002 8:21:45 PM EDT
lazyengineer, do you have a local agent with the company? That can sometimes be helpful to cut through some of the BS.z
Link Posted: 5/4/2002 8:24:18 PM EDT
Link Posted: 5/4/2002 8:28:26 PM EDT
No, they don't have local agents. It's a national insurance co-op that's normally fantastic as it's non-profit, so the prices and policies are great. (by now someone can guess who it is, but I'm not confirming). I'd recommend them to anybody for car insurance, but they're getting awfully intrusive and pushy on the house insurance.
Link Posted: 5/4/2002 8:29:14 PM EDT
Originally Posted By Paul: Nope. They didn't even ask to see a copy of the apprasal either. I'm arguing with them now to lower my coverage as they have me covered for $100,000 more than I bought the house for and have valued my belongings at twice what I would take a WAG they're valued at. Both raise the premium up a bunch.
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Paul don't forget to deduct the cost of the lot from the price of the house. Land is not insured as there is nothing to rebuild in the event of a loss. They sometimes like to "forget" that when they write up your policy.
Link Posted: 5/4/2002 9:05:37 PM EDT
Well, no, they didn't ask to see the appraisal or inspection report. However, they did refuse to insure the house since it has fuses and not circuit breakers. We had ins co. X. When we talked to the sellers, we found out that i.c.X from a different town had been insuring the house for 30+ years and had never mentioned that "it is the policy of ins. co. X to not insure houses with fuses." Anyway, we had been using i.c.X for 20+ years for auto ins, renter's ins, and more auto ins when our kids were still at home. Finally got fed up with their particular line of b.s. and found another company with better rates, less b.s., and better service - and when I asked about the fuse vs. circuit breaker issue all I got was a shoulder shrug with the comment "lots of older houses have fuses." I won't say either who we used to have, but we use Country Companies ins now. NMSight
Link Posted: 5/4/2002 9:21:13 PM EDT
Hello! No...I did not send a copy of the house inspection to my insurance. Yes...My insurance company received a copy of my form. My real estate agent sent it. Where's your agent? That's what they are here for...not simply to take $6,000 of the seller's money for breathing. Of course the insurance company will want to see the inspection. What if three months from now you make a $$,$$$ claim because of termites? The inspection form is more than just a report. At least in California, the company that is doing the inspection is WARRANTEEING the house for a certain period. That means if the water heater falls over because it was incorrectly secured...they pay. If you need to fix termite damage, they pay. You file a claim with your insurance company, they take your inspection/warranty, and go after the inspection company for their money. HTH, James
Link Posted: 5/5/2002 6:56:42 AM EDT
One thing I'd advise anybody thats looking for house insurance to do is to get the Replacement value coverage instead of the cheaper actual coverage. I'll give an example of what happened to me a couple years ago. A tenant I had in one of my rental houses was out in the garage in the middle of winter soldering a gas tank on his car. It was pretty cold out, so he thought Hey I'll bring this kerosene heater within a couple feet of myself to keep me warm (Dumb). He then goes in the house to use the bathroom and comes back out to see my garage engulfed in flames. Long story short I had actual coverage on the property. There was a $11,000 estimate to rebiuld the garage and the insurance company only gave me $4,000. I don't have that house anymore. Sold it a couple months ago. I had only paid $34,000 when I bought it, but the insurance company said if something happened to the house they estimate it'd take $120,000 in todays money to rebiuld a new house of the same size. Glad I switched policies.[;)] CAPITALIST
Link Posted: 5/6/2002 6:10:50 PM EDT
Situation resolved. Told Ins. Co. to bite me and went local. Answered about 10 questions and got a better policy at a better rate with no BS. Thanks for the gut-check. It was good to see that this high degree of big brother BS isn't universal.
Link Posted: 5/6/2002 6:46:30 PM EDT
Originally Posted By lazyengineer: Situation resolved. Told Ins. Co. to bite me and went local. Answered about 10 questions and got a better policy at a better rate with no BS. Thanks for the gut-check. It was good to see that this high degree of big brother BS isn't universal.
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I didn't get the BS until a year after buying... One day I just happen to catch a guy walking around the outside of my house with a camera and a clipboard... I got right in the guys face, and asked him "What the FUCK do you think you're doing ?" He about pissed himself, and said he was sent by my insurance company to do a "Routine walk-around" He asked a few things about the house, and I told him to get bent... About a week later, I get a letter from my ins co demanding that I repair certain "safety hazards" on the property... At the time, I had the house and all my cars insured with the same company... That same day, I called another insurance company and had a guy come out the next day to go over a new homeowners policy, and a new auto insurance policy... I signed a new insurance policy on the spot... I ended up saving about $400 a year by switching companies...
Link Posted: 5/6/2002 6:55:54 PM EDT
Originally Posted By Dragracer_Art: I got right in the guys face, and asked him "What the FUCK do you think you're doing ?"
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You let him off easy--if someone I didn't know was prowling around my property, when I went out to meet them, I'd have a pistol on my hip and a rifle on my shoulder.
Link Posted: 5/6/2002 7:04:44 PM EDT
Originally Posted By Zak:
Originally Posted By Dragracer_Art: I got right in the guys face, and asked him "What the FUCK do you think you're doing ?"
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You let him off easy--if someone I didn't know was prowling around my property, when I went out to meet them, I'd have a pistol on my hip and a rifle on my shoulder.
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He was alone, and dressed in a suit and tie... I didn't think he was too much of a threat...[:D]
Link Posted: 5/6/2002 7:20:04 PM EDT
In L.A. county, many of the homeowner insurance companies are getting out of the home insurance business. I believe they are 21st Century is has just transferred/sold all of its homeowner isurance business to another company. Farmers is not taking on any new customers. This is due to the heavy losses from '93 Northridge Earthquake.
Link Posted: 5/6/2002 11:36:38 PM EDT
Originally Posted By Dragracer_Art: He was alone, and dressed in a suit and tie... I didn't think he was too much of a threat...[:D]
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Roughly fifty-seven million people didn't think that suit-wearing bureaucrats could be a threat to them. They were dead wrong. [url]http://www.jpfo.org/jp2.gif[/url]
Link Posted: 5/7/2002 12:41:50 AM EDT
they did refuse to insure the house since it has fuses and not circuit breakers.
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OK, that doesn't make sense. Because the house had much safer fuses, they wouldn't insure it? What in h--- were they (not) thinking? I've tinkered with electricity most of my life and done more than my fair share of electrical work on machines in textile plants and in restaurants, and I can't imagine someone stupid enough to encourage someone to install circuit breakers over fuses. Simple question, how many fuses have you seen fail [i]and[/i] still pass current? The answer is none. Their failure mode is to open. I've seen dozens of circuit breakers fail and not trip. I've got some bad scars on my arm where a coworker dropped a screwdriver on a 440V line, and the melted metal hit my arm. The circuit breaker failed and didn't break. If that circuit had been protected with a fuse, that wouldn't have happened. If seen fires started when circuit breakers didn't trip, and I've seen people hurt worse than they should have been because circuit breakers are slower to trip. Idiot insurance companies. On an idiot insurance company related note, I received an $1,100 check today from a neighbor's car insurance. He backed into my van, which isn't worth nearly that much, and damaged only the bumper. He claimed the damage to his car with his insurance company, and they demanded that I sign a 45 page agreement. I refused, because they wouldn't give me a copy of it to read before signing. The agent came-back today with the check and the agreement. It's insane that they paid me that much money to agree to not ask for additional money. How is that good business for them? Anyway, that check will go a long way towards paying for a few doctor's bills.z
Link Posted: 5/7/2002 12:51:46 AM EDT
Hey lazy, in the future you also should get another quote every 3 years from a another insurance company, even if you think your insurance company is treating you ok. just something i heard about on "tlc"
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