Tiny
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Post by Tiny on Apr 12, 2019 11:16:04 GMT -5
I never had liability (umbrella) insurance until I moved to this house. In my neck of the woods, it's called "home owners" for homeowners or "renters" for renters insurance and is marketed with those words. I suspect it's all the same kind of thing... just different "names".
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Ava
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Post by Ava on Apr 12, 2019 11:22:04 GMT -5
I don't have time to read all the messages right now. I know it,s odd but I don't have insurance. Looks like the original underwriter made a mistake. They discovered it when I refinanced through Harp but said it was ok to keep it that way. So I don't have insurance on the condo. I guess my best bet is to contact either the association's insurance or the owner of the flooded unit's insurance. Problem is I don't know who the insurance carriers are for either of them
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chiver78
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Post by chiver78 on Apr 12, 2019 11:44:55 GMT -5
your condo docs will have the association insurance information. the management company can also provide this for you.
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andi9899
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Post by andi9899 on Apr 12, 2019 11:50:44 GMT -5
I never had liability (umbrella) insurance until I moved to this house. You had liability coverage, just not an umbrella. You can't buy property insurance without it.
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andi9899
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Post by andi9899 on Apr 12, 2019 12:07:31 GMT -5
I don't have time to read all the messages right now. I know it,s odd but I don't have insurance. Looks like the original underwriter made a mistake. They discovered it when I refinanced through Harp but said it was ok to keep it that way. So I don't have insurance on the condo. I guess my best bet is to contact either the association's insurance or the owner of the flooded unit's insurance. Problem is I don't know who the insurance carriers are for either of them That is absolutely not true. Mortgage underwriters catch absolutely everything. They have outlandish requirements IMO sometimes to make sure everything is covered and the underwriter is not the only person to review a mortgage application. Let's say just for kicks that it wasn't caught, which I don't believe. When you refinanced after the fact, there is no way a mortgage company just agreed to let it go. Why would a financial let tens if not hundreds of thousands of their money sit there uninsured.
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chiver78
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Post by chiver78 on Apr 12, 2019 12:13:49 GMT -5
I don't have time to read all the messages right now. I know it,s odd but I don't have insurance. Looks like the original underwriter made a mistake. They discovered it when I refinanced through Harp but said it was ok to keep it that way. So I don't have insurance on the condo. I guess my best bet is to contact either the association's insurance or the owner of the flooded unit's insurance. Problem is I don't know who the insurance carriers are for either of them That is absolutely not true. Mortgage underwriters catch absolutely everything. They have outlandish requirements IMO sometimes to make sure everything is covered and the underwriter is not the only person to review a mortgage application. Let's say just for kicks that it wasn't caught, which I don't believe. When you refinanced after the fact, there is no way a mortgage company just agreed to let it go. Why would a financial let tens if not hundreds of thousands of their money sit there uninsured. this was exactly the argument I had with my current mtg servicer (my note got sold last summer) when they wanted me to bump my flood coverage to $250k from the $225k I've carried since I bought the place. my house is valued more than that, but my neighborhood has never <knocks wood> had flood issues when other parts of the Cape have. we are too protected in our little corner, and nothing sweeps in like right on the water.
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andi9899
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Post by andi9899 on Apr 12, 2019 12:21:11 GMT -5
That is absolutely not true. Mortgage underwriters catch absolutely everything. They have outlandish requirements IMO sometimes to make sure everything is covered and the underwriter is not the only person to review a mortgage application. Let's say just for kicks that it wasn't caught, which I don't believe. When you refinanced after the fact, there is no way a mortgage company just agreed to let it go. Why would a financial let tens if not hundreds of thousands of their money sit there uninsured. this was exactly the argument I had with my current mtg servicer (my note got sold last summer) when they wanted me to bump my flood coverage to $250k from the $225k I've carried since I bought the place. my house is valued more than that, but my neighborhood has never <knocks wood> had flood issues when other parts of the Cape have. we are too protected in our little corner, and nothing sweeps in like right on the water. I've had that argument with so many mortgage companies. Basically telling them that IDGAF what the market value of the house is. It's insured for full replacement cost. If it were a total loss tomorrow, we're going to replace the house. The insured will continue making mortgage payments during that time. Nothing will change. They just understand that they want insurance up to the mortgage amount. They don't understand how it works.
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Ava
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Post by Ava on Apr 12, 2019 12:28:18 GMT -5
Forgot to add my heat wasn't working last night. It's all electric. I don't know if it's related to the water issue.
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Ava
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Post by Ava on Apr 12, 2019 12:29:41 GMT -5
A9gain I don't have insurance on the condo. I only have the association 's insurance
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Peace77
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Post by Peace77 on Apr 12, 2019 12:44:02 GMT -5
Ava, You need to get a water damage restoration company in your condo TODAY. You can’t wait. The HOA guy should have offered to do it but since he didn’t, go ahead a file a claim.
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chiver78
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Post by chiver78 on Apr 12, 2019 12:59:29 GMT -5
this was exactly the argument I had with my current mtg servicer (my note got sold last summer) when they wanted me to bump my flood coverage to $250k from the $225k I've carried since I bought the place. my house is valued more than that, but my neighborhood has never <knocks wood> had flood issues when other parts of the Cape have. we are too protected in our little corner, and nothing sweeps in like right on the water. I've had that argument with so many mortgage companies. Basically telling them that IDGAF what the market value of the house is. It's insured for full replacement cost. If it were a total loss tomorrow, we're going to replace the house. The insured will continue making mortgage payments during that time. Nothing will change. They just understand that they want insurance up to the mortgage amount. They don't understand how it works. I need to PM you the actual exchange that finally got them to STFU. later, from a full keyboard lol...
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GRG a/k/a goldenrulegirl
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Post by GRG a/k/a goldenrulegirl on Apr 12, 2019 13:09:00 GMT -5
A9gain I don't have insurance on the condo. I only have the association 's insurance It won’t help you with this claim, but please get your own homeowner’s policy. Now. Today. If you had coverage, your insurer would step in and fix everything and go after the other owner for reimbursement ( called subrogation). If your unit burns down, you’re screwed. You will still have to pay every cent of your mortgage whereas homeowner’s insurance would pay your mortgage off. Go. Now. Get homeowner’s coverage. Today. No excuses. It would be foolhardy not to do so.
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GRG a/k/a goldenrulegirl
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Post by GRG a/k/a goldenrulegirl on Apr 12, 2019 13:11:10 GMT -5
I think people are taking advantage of Ava’s English skills and lack of understanding She has a Bachelor’s and a Master’s and is a CPA and works at a bank. Her English is fine.
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Deleted
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Post by Deleted on Apr 12, 2019 13:36:37 GMT -5
A9gain I don't have insurance on the condo. I only have the association 's insurance It won’t help you with this claim, but please get your own homeowner’s policy. Now. Today. If you had coverage, your insurer would step in and fix everything and go after the other owner for reimbursement ( called subrogation). If your unit burns down, you’re screwed. You will still have to pay every cent of your mortgage whereas homeowner’s insurance would pay your mortgage off. Go. Now. Get homeowner’s coverage. Today. No excuses. It would be foolhardy not to do so. I don't think it is that simple now. If she files a claim at all, I think it will generate an entry on her CLUE report. Underwriting probably isn't going to like that. andi9899 can better advise her than we can. Can you get homeowner's insurance on damaged property? I know they won't cover the damage, but will they care that she is currently having to file a claim?
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Ava
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Post by Ava on Apr 12, 2019 13:36:56 GMT -5
I called the association manager and had a very violent discussion with him.
He refused to give me the insurance details and tried to guilt me into not filing.
I told him I need someone to assess my condo. He said if he has to send someone he'll charge me for it.
I had to stand really firm He said he'll call me in 1/2 hour with the name of someone for an appointment
That was an hour ago
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Ava
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Post by Ava on Apr 12, 2019 13:39:00 GMT -5
I am beyond drained and I'm absolutely on my own. I guess you know who your friends are when you have something bad happen
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Deleted
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Post by Deleted on Apr 12, 2019 13:39:10 GMT -5
It won’t help you with this claim, but please get your own homeowner’s policy. Now. Today. If you had coverage, your insurer would step in and fix everything and go after the other owner for reimbursement ( called subrogation). If your unit burns down, you’re screwed. You will still have to pay every cent of your mortgage whereas homeowner’s insurance would pay your mortgage off. Go. Now. Get homeowner’s coverage. Today. No excuses. It would be foolhardy not to do so. I don't think it is that simple now. If she files a claim at all, I think it will generate an entry on her CLUE report. Underwriting probably isn't going to like that. andi9899 can better advise her than we can. Can you get homeowner's insurance on damaged property? I know they won't cover the damage, but will they care that she is currently having to file a claim? But shouldn't the other condo owner's insurance be repairing all this damage anyhow? It shouldn't be her claim.
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andi9899
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Post by andi9899 on Apr 12, 2019 13:39:48 GMT -5
It won’t help you with this claim, but please get your own homeowner’s policy. Now. Today. If you had coverage, your insurer would step in and fix everything and go after the other owner for reimbursement ( called subrogation). If your unit burns down, you’re screwed. You will still have to pay every cent of your mortgage whereas homeowner’s insurance would pay your mortgage off. Go. Now. Get homeowner’s coverage. Today. No excuses. It would be foolhardy not to do so. I don't think it is that simple now. If she files a claim at all, I think it will generate an entry on her CLUE report. Underwriting probably isn't going to like that. andi9899 can better advise her than we can. Can you get homeowner's insurance on damaged property? I know they won't cover the damage, but will they care that she is currently having to file a claim? Yes. If she can find a company to cover her, the rate will be higher. She may have to go excess and surplus. I placed a guy with a $700K fire claim, and that was far from his only claim. I don't remember who it was with, but I had to go that route because no one else would touch it.
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andi9899
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Post by andi9899 on Apr 12, 2019 13:44:28 GMT -5
I don't think it is that simple now. If she files a claim at all, I think it will generate an entry on her CLUE report. Underwriting probably isn't going to like that. andi9899 can better advise her than we can. Can you get homeowner's insurance on damaged property? I know they won't cover the damage, but will they care that she is currently having to file a claim? But shouldn't the other condo owner's insurance be repairing all this damage anyhow? It shouldn't be her claim. They have to repair what's damaged "studs in". She's responsible for "studs out" damage. There has to be an insurance policy for her in place if she has a mortgage, even if it was with the same carrier as the property owner. In fact, if they used the same carrier, the mortgage company should have the comtact info for the carrier and likely has the policy details as they would have required insurance to close on the loan.
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chiver78
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Post by chiver78 on Apr 12, 2019 13:46:01 GMT -5
I called the association manager and had a very violent discussion with him. He refused to give me the insurance details and tried to guilt me into not filing. I told him I need someone to assess my condo. He said if he has to send someone he'll charge me for it. I had to stand really firm He said he'll call me in 1/2 hour with the name of someone for an appointment That was an hour ago that is beyond not okay. please call a lawyer, today.
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justme
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Post by justme on Apr 12, 2019 13:46:10 GMT -5
I don't think it is that simple now. If she files a claim at all, I think it will generate an entry on her CLUE report. Underwriting probably isn't going to like that. andi9899 can better advise her than we can. Can you get homeowner's insurance on damaged property? I know they won't cover the damage, but will they care that she is currently having to file a claim? But shouldn't the other condo owner's insurance be repairing all this damage anyhow? It shouldn't be her claim. My experience is from another state -- but apparently condos and insurance can be quite different than regular old houses. I honestly thought it would be covered and insurance pretty much turned me down flat and I went through all avenues I could. But we have insurance for condos and then the HOA has insurance for the building so it seems different than ava's.
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hoops902
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Post by hoops902 on Apr 12, 2019 13:52:50 GMT -5
But shouldn't the other condo owner's insurance be repairing all this damage anyhow? It shouldn't be her claim. They have to repair what's damaged "studs in". She's responsible for "studs out" damage. There has to be an insurance policy for her in place if she has a mortgage, even if it was with the same carrier as the property owner. In fact, if they used the same carrier, the mortgage company should have the comtact info for the carrier and likely has the policy details as they would have required insurance to close on the loan. I'm clearly not an expert on townhome/hoa insurance type stuff...but isn't the other townhome owner's insurance responsible for the studs-in on Ava's home (I think that's what you're already saying), and wouldn't the HOA be responsible for the "studs out" stuff (by going through that same person's insurance, but isn't that not Ava's responsibility at all since it's the HOAs responsibilty)?
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hoops902
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Post by hoops902 on Apr 12, 2019 13:56:09 GMT -5
I'm actually not sure at all why the property manager would get involved to ever give Ava the property management's insurance. Sounds like this has nothing to do with them (other than the fact they don't want a claim via the other homeowner's policy because it will presumably impact their rates). Can someone explain why the property manager would owe Ava anything here regarding insurance (or even just regarding anything, how is any of this the property management's problem?).
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andi9899
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Post by andi9899 on Apr 12, 2019 14:00:47 GMT -5
They have to repair what's damaged "studs in". She's responsible for "studs out" damage. There has to be an insurance policy for her in place if she has a mortgage, even if it was with the same carrier as the property owner. In fact, if they used the same carrier, the mortgage company should have the comtact info for the carrier and likely has the policy details as they would have required insurance to close on the loan. I'm clearly not an expert on townhome/hoa insurance type stuff...but isn't the other townhome owner's insurance responsible for the studs-in on Ava's home (I think that's what you're already saying), and wouldn't the HOA be responsible for the "studs out" stuff (by going through that same person's insurance, but isn't that not Ava's responsibility at all since it's the HOAs responsibilty)? If they were evicted for not paying rent, the occupant of the other unit was not the owner, they were a renter. The owner is ultimately responsible for what happens on/in their property/unit. Even if the renter had renters insurance that she tried to claim on, they will not cover intentional damage. This is Ava's baby for the interior of her unit. She needs to contact the mortgage company to find out who it's through. She has to have insurance if she has a mortgage, even if she believes she doesn't.
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hoops902
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Post by hoops902 on Apr 12, 2019 14:04:15 GMT -5
I'm clearly not an expert on townhome/hoa insurance type stuff...but isn't the other townhome owner's insurance responsible for the studs-in on Ava's home (I think that's what you're already saying), and wouldn't the HOA be responsible for the "studs out" stuff (by going through that same person's insurance, but isn't that not Ava's responsibility at all since it's the HOAs responsibilty)? If they were evicted for not paying rent, the occupant of the other unit was not the owner, they were a renter. The owner is ultimately responsible for what happens on/in their property/unit. Even if the renter had renters insurance that she tried to claim on, they will not cover intentional damage. This is Ava's baby for the interior of her unit. She needs to contact the mortgage company to find out who it's through. She has to have insurance if she has a mortgage, even if she believes she doesn't. I'm think we're saying/said the same thing. Perhaps I was just confused by who you were talking about with "she" and "studs out" vs "studs in" between each unit.
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zibazinski
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Post by zibazinski on Apr 12, 2019 14:08:40 GMT -5
If she’s got a mortgage there’s got to be insurance. The mortgage company would insist on it. It’s probably through them so very expensive.
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zibazinski
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Post by zibazinski on Apr 12, 2019 14:11:06 GMT -5
I think people are taking advantage of Ava’s English skills and lack of understanding She has a Bachelor’s and a Master’s and is a CPA and works at a bank. Her English is fine. You can have degrees up the ass and still not seem smart.
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giramomma
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Post by giramomma on Apr 12, 2019 14:19:19 GMT -5
She has a Bachelor’s and a Master’s and is a CPA and works at a bank. Her English is fine. You can have degrees up the ass and still not seem smart. Amen. One of my prior superiors had a PhD in engineering and an MBA. She was wicked smart about very long equations that were so very lost on me...but in terms of lifing...the woman was not smart at all.
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Ava
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Post by Ava on Apr 12, 2019 14:27:29 GMT -5
I still haven't read any messages. I'm at work.
Still mot heard back from the manager and don't expect to at this point. I'll see if the owner of the flooded unit shows up during the weekend and ask for his insurance information. If he doesn't show up or refuses to give me the information I'll have to get a lawyer on Monday. Would it be contingency or would I have to pay for it?
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Deleted
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Post by Deleted on Apr 12, 2019 14:30:47 GMT -5
I don't think it is that simple now. If she files a claim at all, I think it will generate an entry on her CLUE report. Underwriting probably isn't going to like that. andi9899 can better advise her than we can. Can you get homeowner's insurance on damaged property? I know they won't cover the damage, but will they care that she is currently having to file a claim? But shouldn't the other condo owner's insurance be repairing all this damage anyhow? It shouldn't be her claim. I thought damage to her property means that it is more costly to insure whether it is her claim or not. There can be hidden damage that does not get corrected. However, I don't work in insurance so I defer to andi9899.
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