Tiny
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Post by Tiny on Mar 8, 2018 12:03:34 GMT -5
I might actually look at raising my deductible to 5K (I think it's 1/2% now), to save on premiums, since I don't think I'd ever file for anything below that ever again anyhow. I just upped mine to 5K (from 2500) when I renewed in March. It lowered my insurance by $100.00 a year. It may or maynot be worth it... we'll see.
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Deleted
Joined: May 14, 2024 16:22:45 GMT -5
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Post by Deleted on Mar 8, 2018 16:55:44 GMT -5
The thing with a $5000 deductible is that you have pretty much agreed that you will only file if it's a total house. A thief could rob us of everything worth stealing that we own, and we wouldn't be enough over $5000 to make it worth filing. A roof is "only" $10,000. Would it be worth the three-years of surcharge and possible cancellation for the $5k that they would pay? And so on.
You aren't really punished for using health insurance. Why are you punished for using property insurance?
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midjd
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Post by midjd on Mar 8, 2018 17:04:35 GMT -5
I think property insurance operates how insurance was intended to operate—as a stop-loss for catastrophic losses that would bankrupt the average person.
Health insurance seems to be treated/seen more as care coverage vs catastrophic coverage—it’s expected to cover everything, from routine exams to the hit-by-a-bus claims. Which is probably one of the reasons reforming it is such a tough task, since it’s morphed out of the purely insurance realm.
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Deleted
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Post by Deleted on Mar 8, 2018 17:10:55 GMT -5
I don't think I'd switch to a 5K deductible for $100/year savings, but I currently pay $1500/year. If it cut it to closer to $1000....hell yeah, I'd strongly consider upping deductible. I really only want it for catastrophic loss.
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GRG a/k/a goldenrulegirl
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"How you win matters." Ender, Ender's Game
Joined: Jan 2, 2011 13:33:09 GMT -5
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Post by GRG a/k/a goldenrulegirl on Mar 8, 2018 18:49:50 GMT -5
adjuster is coming out on Saturday. will keep y'all posted. I'm here. No power and won't have it for days. PM me your adjuster's name. Remember: the adjuster is NOT your friend. He does NOT work for you. I don't care how charming he is, he makes money by adjusting your claim for as little as possible. As for personal property losses, YOUR POLICY RULES. Don't listen to how other people's personal property claims were handled. Read YOUR policy for what is covered and how. My insurer sends only a Cover Selections Page every year at renewal. I pay extra every year for "Replacement Cost" for personal property. That's all it says on the Coverage Selections Page. But, and this is CRITICAL: my actual 36 page policy says I get replacement cost UPON REPLACEMENT. I lost nearly everything I own. (Yeah, we should have read the policy and we should have purchased straight replacement cost but we didn't. I still think the way it is listed on the Coverage Selections Page is deceptive.). I had $360,000 of personal property coverage. I created an itemized Excel spreadsheet over 200 legal size pages long containing pictures of every item and the estimated cost to replace it (I.e., what does a Men's Target polo shirt cost today). The total was just shy of $200,000 so not even close to my coverage limit. BUT, as my current attorney (the 4th!!)!pointed out to me...my policy only pays UPON REPLACEMENT. Who completely furnishes an entire house and an entire wardrobe in one fell swoop? No one. We had furniture and books and such that we'd accumulated over the 25 years we've been together. I didn't have $200,000 to run out and replace everything and I bet most folks don't. So, we'll get a fraction IF we ever settle (almost 4 years now). So, read your policy and do what your policy says to do, not what folks on the internet say to do. Another critical point: My policy said the insurer had the right to inspect the damaged personal property at will. I stored it all for 3 years in a metal shipping container in my driveway until my town sued me for violating zoning by-laws. The insurance company never once inspected the contents until we told them we were throwing it all in a dumpster to be towed away. THEN they inspected. And now they claim I have prejudiced my claim by tossing all of that moldy crap. 😡. So, if you throw damaged personal property away before the adjuster comes and your policy says the insurer has the right to inspect, you might be screwed. Finally, most homeowner's policies specifically exclude landscaping. I've got a nice fieldstone retaining wall and a ton of gorgeous trees and shrubs that both the tree and the bozoes that took the tree out of my second floor and dropped it in huge chunks anywhere they wanted destroyed. My policy specifically excludes landscaping so I will get nada. Your patio might be considered landscaping. Is landscaping included or excluded in YOUR policy. So, read YOUR policy (you might have to ask for a complete copy because they don't send them voluntarily), see what kind of personal property coverage you have, and then do what the policy says you must do to file a successful claim. Good luck. (Insurance is a total scam.)
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chiver78
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Post by chiver78 on Mar 8, 2018 18:58:45 GMT -5
thanks, lady. will PM you the name after I meet him. the scheduler called while I was driving and couldn't write it down. I have whatever they sent me at renewal back in January, will take a look to see what the policy says. and obv if I have any questions along the way, I'll be coming back here for all you fine folks to guide me
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CCL
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Post by CCL on Mar 8, 2018 18:59:15 GMT -5
Switching from what deductible to $5000 to save $100? If deductible is $1000, and you have a claim, it would take, what, 40 years to break even? We get hail storms every year, most not bad enough to do much damage, but some do quite a bit, along with wind damage.
It wouldn't be worth it to me, even if I saved $500 a year. I'd still have my cars to worry about, too.
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CCL
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Post by CCL on Mar 8, 2018 19:04:38 GMT -5
The thing with a $5000 deductible is that you have pretty much agreed that you will only file if it's a total house. A thief could rob us of everything worth stealing that we own, and we wouldn't be enough over $5000 to make it worth filing. A roof is "only" $10,000. Would it be worth the three-years of surcharge and possible cancellation for the $5k that they would pay? And so on. You aren't really punished for using health insurance. Why are you punished for using property insurance? Really? I always had replacement coverage and things added up pretty quickly whenever I had a claim. Sometimes thieves also take things that are not worth stealing. They like to smash things up and cause a lot of other damage, too, in my experience.
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Deleted
Joined: May 14, 2024 16:22:45 GMT -5
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Post by Deleted on Mar 8, 2018 19:22:45 GMT -5
The thing with a $5000 deductible is that you have pretty much agreed that you will only file if it's a total house. A thief could rob us of everything worth stealing that we own, and we wouldn't be enough over $5000 to make it worth filing. A roof is "only" $10,000. Would it be worth the three-years of surcharge and possible cancellation for the $5k that they would pay? And so on. You aren't really punished for using health insurance. Why are you punished for using property insurance? Really? I always had replacement coverage and things added up pretty quickly whenever I had a claim. Sometimes thieves also take things that are not worth stealing. They like to smash things up and cause a lot of other damage, too, in my experience. Maybe. But the few times I got robbed, the thieves went for electronics. I have no jewelry. There are four tvs in our house, and you could replace all four for less than $1500. Nothing is bigger than a 42". You can replace the microwave for a few hundred. The two computers are another $1000 max. There is a Bose system so throw in another $1000. No jewelry or guns. Cds and dvds are worthless. I don't have any silver. Yes, if it all burned down, it is worth enough to make it worth filing. But not theft. They want portable, sellable stuff that can be carried out in a hurry. Sure, they might smash stuff, but that's not your typical robber. They want in and out quickly. So stuff gets dumped on the floor as they search. But if they start smashing dishes, etc., there is something else going on. It would take more than $10,000 (the $5000 deductible plus another $5000 worth of stuff) before I filed a claim with a $5000 deductible. I pretty much paid my own claim with the surcharge they slapped on me. I don't own $10,000 worth of portable sellable stuff that can be carried out in a hurry.
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GRG a/k/a goldenrulegirl
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"How you win matters." Ender, Ender's Game
Joined: Jan 2, 2011 13:33:09 GMT -5
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Post by GRG a/k/a goldenrulegirl on Mar 8, 2018 19:22:49 GMT -5
thanks, lady. will PM you the name after I meet him. the scheduler called while I was driving and couldn't write it down. I have whatever they sent me at renewal back in January, will take a look to see what the policy says. and obv if I have any questions along the way, I'll be coming back here for all you fine folks to guide me Another type of personal property coverage is Actual Cash Value. If you have that type of coverage, your 20 year old printer was worthless. 😜
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AgeOfEnlightenmentSCP
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Post by AgeOfEnlightenmentSCP on Mar 30, 2018 10:10:02 GMT -5
would someone tag Paul for me please? I'm on my phone and Tapatalk, haven't figured that out yet. this weekend, in Winter Storm Riley (or whatever it was called) I lost power for 24h and my sump pump couldn't keep up with the water coming into my basement from a previously unknown crack in the foundation. the high point was 2" of water across the board. most things were elevated, there are a number of plastic tubs directly on the floor that are fine. a number of things weren't elevated enough, and may be lost. my paver patio is showing signs of caving down the hill, as that side of the backyard is where the sump dumps out to. my question is more of this - when I called my insurance company to initiate the claim, I made sure to be clear that while I live in a flood zone, this was not at all coastal flooding. I have been playing phone tag all afternoon with the adjuster, but apparently it's logged in as water damage. can I edit this claim to also include the loss of contents of fridge/freezer? also, what kind of documentation is needed for things? other than the food (trash day is tomorrow, I'm just taking pictures and pitching shit) I am going to try to hold onto as much as possible. I had to the printer whose ink was spouting like a farting octopus, but everything else is still in the house. basically, what do I need to do? I obviously can't adjust your claim, but in my experience it won't likely matter if there's "GCF" or general condition flood. They are going to be primarily concerned with the proximate cause of loss-- and most of what you described would be excluded. An example of water exclusions which are typically found in most (but importantly not all) HO polices reads like this under the EXCLUSIONS header: Exclusions: Water (1) Flood, surface water, waves, tides, tidal waves, overflow of any body of water, or their spray, all whether driven by wind or not; (2) Water which backs up through sewers or drains or which overflows from a sump; or (3) Water below the surface of the ground, including water which exerts pressure on or seeps or leaks through a building, sidewalk, driveway, foundation, swimming pool or other structure. Your policy may have a sump pump endorsement. These typically provide a narrowly defined set of coverages with a limited benefit-- usually not more than $10,000; and they come complete with plenty of exclusions- including, but not limited to a general condition of flooding (which is defined specifically in the policy). I've seen companies make a decision to just cut the check. You might want to consider the services of a public adjuster. I can tell you first-hand that regardless of what the policy says, people with PA get paid more often and in larger amounts than those without. I'm just being honest here.
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AgeOfEnlightenmentSCP
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Post by AgeOfEnlightenmentSCP on Mar 30, 2018 10:17:54 GMT -5
adjuster is coming out on Saturday. will keep y'all posted. I'm here. No power and won't have it for days. PM me your adjuster's name. Remember: the adjuster is NOT your friend. He does NOT work for you. I don't care how charming he is, he makes money by adjusting your claim for as little as possible. 1. 100% true that the insurance adjuster is NOT your friend.
2. Completely false that the adjuster gets paid to under-pay your claim. Just the opposite. The larger the scope- the more an independent adjuster like myself gets paid.
The reality of the problem is that the adjuster that comes to your house may not have any coverage-decision authority at all. I'm an independent adjuster- IA. As an IA, on 90% of the claims I handle (which are almost exclusively catastrophe claims for windstorm (hurricanes) or hail-- I have no decision making authority. I take pictures, determine the origin and cause of loss (O&C), and provide a scope to repair damages and a brief narrative describing what happened, what it'll take to fix it, and I'm gone.
In my experience, though, regardless of what the policy states-- those insureds that use the services of a public adjuster or an attorney get paid on things others have been denied on, and they get paid far more than even the best adjuster's scope. And I'm pretty damn thorough. I am determined (and incentivized) to write the largest scope possible.As for personal property losses, YOUR POLICY RULES. Don't listen to how other people's personal property claims were handled. Read YOUR policy for what is covered and how. My insurer sends only a Cover Selections Page every year at renewal. I pay extra every year for "Replacement Cost" for personal property. That's all it says on the Coverage Selections Page. But, and this is CRITICAL: my actual 36 page policy says I get replacement cost UPON REPLACEMENT. I lost nearly everything I own. (Yeah, we should have read the policy and we should have purchased straight replacement cost but we didn't. I still think the way it is listed on the Coverage Selections Page is deceptive.). I had $360,000 of personal property coverage. I created an itemized Excel spreadsheet over 200 legal size pages long containing pictures of every item and the estimated cost to replace it (I.e., what does a Men's Target polo shirt cost today). The total was just shy of $200,000 so not even close to my coverage limit. BUT, as my current attorney (the 4th!!)!pointed out to me...my policy only pays UPON REPLACEMENT. Who completely furnishes an entire house and an entire wardrobe in one fell swoop? No one. We had furniture and books and such that we'd accumulated over the 25 years we've been together. I didn't have $200,000 to run out and replace everything and I bet most folks don't. So, we'll get a fraction IF we ever settle (almost 4 years now). So, read your policy and do what your policy says to do, not what folks on the internet say to do. Another critical point: My policy said the insurer had the right to inspect the damaged personal property at will. I stored it all for 3 years in a metal shipping container in my driveway until my town sued me for violating zoning by-laws. The insurance company never once inspected the contents until we told them we were throwing it all in a dumpster to be towed away. THEN they inspected. And now they claim I have prejudiced my claim by tossing all of that moldy crap. 😡. So, if you throw damaged personal property away before the adjuster comes and your policy says the insurer has the right to inspect, you might be screwed. Finally, most homeowner's policies specifically exclude landscaping. I've got a nice fieldstone retaining wall and a ton of gorgeous trees and shrubs that both the tree and the bozoes that took the tree out of my second floor and dropped it in huge chunks anywhere they wanted destroyed. My policy specifically excludes landscaping so I will get nada. Your patio might be considered landscaping. Is landscaping included or excluded in YOUR policy. <--- A dwelling policy is for the dwelling, and maybe appurtenant structures (APS) or "Other Structures" (sheds, detached garages, fencing, etc) but it typically doesn't cover damage to landscaping (though I've seen $500 or thereabouts for limited landscape coverage). I've also seen contents (personal property) paid for landscape lighting, bird baths, statues, etc depending on the cause of the damage.So, read YOUR policy <--- THIS. Always. Most people shop premium and only concern themselves with their coverage or deductible after a claim. Wrong thing to do. (you might have to ask for a complete copy because they don't send them voluntarily), see what kind of personal property coverage you have, and then do what the policy says you must do to file a successful claim. Good luck. (Insurance is a total scam.) <--- Pretty much.
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AgeOfEnlightenmentSCP
Distinguished Associate
Joined: Dec 21, 2010 11:59:07 GMT -5
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Post by AgeOfEnlightenmentSCP on Mar 30, 2018 10:29:43 GMT -5
I'm here. No power and won't have it for days. PM me your adjuster's name. Remember: the adjuster is NOT your friend. He does NOT work for you. I don't care how charming he is, he makes money by adjusting your claim for as little as possible. 1. 100% true that the insurance adjuster is NOT your friend.
2. Completely false that the adjuster gets paid to under-pay your claim. Just the opposite. The larger the scope- the more an independent adjuster like myself gets paid.
The reality of the problem is that the adjuster that comes to your house may not have any coverage-decision authority at all. I'm an independent adjuster- IA. As an IA, on 90% of the claims I handle (which are almost exclusively catastrophe claims for windstorm (hurricanes) or hail-- I have no decision making authority. I take pictures, determine the origin and cause of loss (O&C), and provide a scope to repair damages and a brief narrative describing what happened, what it'll take to fix it, and I'm gone.
In my experience, though, regardless of what the policy states-- those insureds that use the services of a public adjuster or an attorney get paid on things others have been denied on, and they get paid far more than even the best adjuster's scope. And I'm pretty damn thorough. I am determined (and incentivized) to write the largest scope possible.As for personal property losses, YOUR POLICY RULES. Don't listen to how other people's personal property claims were handled. Read YOUR policy for what is covered and how. My insurer sends only a Cover Selections Page every year at renewal. I pay extra every year for "Replacement Cost" for personal property. That's all it says on the Coverage Selections Page. But, and this is CRITICAL: my actual 36 page policy says I get replacement cost UPON REPLACEMENT. I lost nearly everything I own. (Yeah, we should have read the policy and we should have purchased straight replacement cost but we didn't. I still think the way it is listed on the Coverage Selections Page is deceptive.). I had $360,000 of personal property coverage. I created an itemized Excel spreadsheet over 200 legal size pages long containing pictures of every item and the estimated cost to replace it (I.e., what does a Men's Target polo shirt cost today). The total was just shy of $200,000 so not even close to my coverage limit. BUT, as my current attorney (the 4th!!)!pointed out to me...my policy only pays UPON REPLACEMENT. Who completely furnishes an entire house and an entire wardrobe in one fell swoop? No one. We had furniture and books and such that we'd accumulated over the 25 years we've been together. I didn't have $200,000 to run out and replace everything and I bet most folks don't. So, we'll get a fraction IF we ever settle (almost 4 years now). So, read your policy and do what your policy says to do, not what folks on the internet say to do. Another critical point: My policy said the insurer had the right to inspect the damaged personal property at will. <--- really, "as often as we reasonably require". Do you have a public adjuster? I'd get one. I stored it all for 3 years in a metal shipping container in my driveway until my town sued me for violating zoning by-laws. The insurance company never once inspected the contents until we told them we were throwing it all in a dumpster to be towed away. THEN they inspected. And now they claim I have prejudiced my claim by tossing all of that moldy crap. 😡. So, if you throw damaged personal property away before the adjuster comes and your policy says the insurer has the right to inspect, you might be screwed. Finally, most homeowner's policies specifically exclude landscaping. I've got a nice fieldstone retaining wall and a ton of gorgeous trees and shrubs that both the tree and the bozoes that took the tree out of my second floor and dropped it in huge chunks anywhere they wanted destroyed. My policy specifically excludes landscaping so I will get nada. Your patio might be considered landscaping. Is landscaping included or excluded in YOUR policy. <--- A dwelling policy is for the dwelling, and maybe appurtenant structures (APS) or "Other Structures" (sheds, detached garages, fencing, etc) but it typically doesn't cover damage to landscaping (though I've seen $500 or thereabouts for limited landscape coverage). I've also seen contents (personal property) paid for landscape lighting, bird baths, statues, etc depending on the cause of the damage.So, read YOUR policy <--- THIS. Always. Most people shop premium and only concern themselves with their coverage or deductible after a claim. Wrong thing to do. (you might have to ask for a complete copy because they don't send them voluntarily), see what kind of personal property coverage you have, and then do what the policy says you must do to file a successful claim. Good luck. (Insurance is a total scam.) <--- Pretty much.
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chiver78
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Current Events Admin
Joined: Dec 20, 2010 13:04:45 GMT -5
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Post by chiver78 on Mar 30, 2018 13:01:39 GMT -5
would someone tag Paul for me please? I'm on my phone and Tapatalk, haven't figured that out yet. this weekend, in Winter Storm Riley (or whatever it was called) I lost power for 24h and my sump pump couldn't keep up with the water coming into my basement from a previously unknown crack in the foundation. the high point was 2" of water across the board. most things were elevated, there are a number of plastic tubs directly on the floor that are fine. a number of things weren't elevated enough, and may be lost. my paver patio is showing signs of caving down the hill, as that side of the backyard is where the sump dumps out to. my question is more of this - when I called my insurance company to initiate the claim, I made sure to be clear that while I live in a flood zone, this was not at all coastal flooding. I have been playing phone tag all afternoon with the adjuster, but apparently it's logged in as water damage. can I edit this claim to also include the loss of contents of fridge/freezer? also, what kind of documentation is needed for things? other than the food (trash day is tomorrow, I'm just taking pictures and pitching shit) I am going to try to hold onto as much as possible. I had to the printer whose ink was spouting like a farting octopus, but everything else is still in the house. basically, what do I need to do? I obviously can't adjust your claim, but in my experience it won't likely matter if there's "GCF" or general condition flood. They are going to be primarily concerned with the proximate cause of loss-- and most of what you described would be excluded. An example of water exclusions which are typically found in most (but importantly not all) HO polices reads like this under the EXCLUSIONS header: Exclusions: Water (1) Flood, surface water, waves, tides, tidal waves, overflow of any body of water, or their spray, all whether driven by wind or not; (2) Water which backs up through sewers or drains or which overflows from a sump; or (3) Water below the surface of the ground, including water which exerts pressure on or seeps or leaks through a building, sidewalk, driveway, foundation, swimming pool or other structure. Your policy may have a sump pump endorsement. These typically provide a narrowly defined set of coverages with a limited benefit-- usually not more than $10,000; and they come complete with plenty of exclusions- including, but not limited to a general condition of flooding (which is defined specifically in the policy). I've seen companies make a decision to just cut the check. You might want to consider the services of a public adjuster. I can tell you first-hand that regardless of what the policy says, people with PA get paid more often and in larger amounts than those without. I'm just being honest here. thanks! when I asked for someone to tag you, it was just for some questions. wasn't really sure what to do or where to start. I ended up putting in a claim, it will be covered under the sump backup thing. doesn't matter that the sump backed up bc the power was out, which is good. the field adjust came out about 3 weeks ago, there was still water coming in as the snow melted. he told me (and the office guy concurred) that he was okay with pretty much any reasonable thing I was going to look for $ for, bc I clearly had something going on. so basically, this weekend we are finally going to be able to get down there and pull things out through the bulkhead and evaluate for damage. the water has finally stopped coming in and I've got a call out to a concrete guy to come fill and seal the hole in the foundation. so excited for that....
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GRG a/k/a goldenrulegirl
Senior Associate
"How you win matters." Ender, Ender's Game
Joined: Jan 2, 2011 13:33:09 GMT -5
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Post by GRG a/k/a goldenrulegirl on Mar 30, 2018 15:21:03 GMT -5
AgeOfEnlightenmentSCP: we tried to find a PA. We met with 4 different public adjusters. Unfortunately, it was after we moved back into the house and, for the most part, only the personal property portion of the claim was left (which is the PITA part). I suspect it wasn’t worth it to them, even though the total claim will be just shy of $500K when all is said and done so they could get a decent chunk.
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AgeOfEnlightenmentSCP
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Joined: Dec 21, 2010 11:59:07 GMT -5
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Post by AgeOfEnlightenmentSCP on Apr 3, 2018 15:43:36 GMT -5
AgeOfEnlightenmentSCP : we tried to find a PA. We met with 4 different public adjusters. Unfortunately, it was after we moved back into the house and, for the most part, only the personal property portion of the claim was left (which is the PITA part). I suspect it wasn’t worth it to them, even though the total claim will be just shy of $500K when all is said and done so they could get a decent chunk. That does not surprise me. Too bad. I've been thinking about going PA, and focusing on contents once we've got a commitment to coverage. The poor bastards will never see it coming...
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AgeOfEnlightenmentSCP
Distinguished Associate
Joined: Dec 21, 2010 11:59:07 GMT -5
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Favorite Drink: Sweetwater 420
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Post by AgeOfEnlightenmentSCP on Apr 3, 2018 15:46:01 GMT -5
I obviously can't adjust your claim, but in my experience it won't likely matter if there's "GCF" or general condition flood. They are going to be primarily concerned with the proximate cause of loss-- and most of what you described would be excluded. An example of water exclusions which are typically found in most (but importantly not all) HO polices reads like this under the EXCLUSIONS header: Exclusions: Water (1) Flood, surface water, waves, tides, tidal waves, overflow of any body of water, or their spray, all whether driven by wind or not; (2) Water which backs up through sewers or drains or which overflows from a sump; or (3) Water below the surface of the ground, including water which exerts pressure on or seeps or leaks through a building, sidewalk, driveway, foundation, swimming pool or other structure. Your policy may have a sump pump endorsement. These typically provide a narrowly defined set of coverages with a limited benefit-- usually not more than $10,000; and they come complete with plenty of exclusions- including, but not limited to a general condition of flooding (which is defined specifically in the policy). I've seen companies make a decision to just cut the check. You might want to consider the services of a public adjuster. I can tell you first-hand that regardless of what the policy says, people with PA get paid more often and in larger amounts than those without. I'm just being honest here. thanks! when I asked for someone to tag you, it was just for some questions. wasn't really sure what to do or where to start. I ended up putting in a claim, it will be covered under the sump backup thing. doesn't matter that the sump backed up bc the power was out, which is good. the field adjust came out about 3 weeks ago, there was still water coming in as the snow melted. he told me (and the office guy concurred) that he was okay with pretty much any reasonable thing I was going to look for $ for, bc I clearly had something going on. so basically, this weekend we are finally going to be able to get down there and pull things out through the bulkhead and evaluate for damage. the water has finally stopped coming in and I've got a call out to a concrete guy to come fill and seal the hole in the foundation. so excited for that.... Glad to hear it! It really comes down to the state's "concurrent causation" doctrine. In Florida, if you've got multiple causes for a loss-- but one of them would be covered, we are not permitted to pick and choose the cause of loss- it's covered. I believe the FL SCOTUS case was Sebo.
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