Insurance Concerns

Is it the agent’s job to call the home insurance company to get a policy or should i do it?

Insurance — Mon, 23 Apr 2012 13:43:22 +0000

Question by flowerpower: Is it the agent’s job to call the home insurance company to get a policy or should i do it?
our closing will be this wednesday…everything is good …the only thing that is missing is the home insurance thanx

Best answer:

Answer by newmexicorealestateforms
You do it. You need to shop for the best deal anyway

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Seniors, did your home/car insurance go way up when you hit 65?

Insurance — Mon, 23 Apr 2012 12:46:42 +0000

Question by : Seniors, did your home/car insurance go way up when you hit 65?
My mothers insurance for her home and car are through the same company. Her rates just doubled in the last bill – she called the agent and they said it was because she just hit 65 and because Medicaid wouldn’t pay anything for her healthcare if she was in an accident.

That makes no sense to me. Seems more like insurance company blundering that needs to be cleared up, but I wondered.

Thanks.
Medicare! That’s it!
Sorry, got the two mixed up.

Best answer:

Answer by Daisymae
I haven’t hit 65 yet, but my home/car insurance is going up anyway. I wish you hadn’t told me this. Yikes

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Home Insurance Claim due to Tornado damage: will insurance company agree to pay me instead of contractor?

Insurance — Mon, 23 Apr 2012 10:55:23 +0000

Question by Independent_guy: Home Insurance Claim due to Tornado damage: will insurance company agree to pay me instead of contractor?
Hi, will the insurance company agree to pay me say $ 5,000 instead of paying the contractor directly, and allow me to hire someone else? How does it work technically? I get $ 5,000, then if I am able to find contractor I like for less say $ 4,000, I get to keep the rest!? (pls assume example of $ 5,000 is based on a quote insurance company got from a contractor) THANKS.

Best answer:

Answer by Ginger
Yes, you may choose to do your own repairs. The estimates the contractor provides are just that, estimates.

Be aware though that the insurance company may only pay you a partial payment until all work is completed. Once the work is totally done you will receive the remainder of the replacement costs.

Make SURE you go with a contractor who is licensed and insured. There are way too many out there who take your money and leave you with unfinished work. Get referrals from your agent and ask the contractor for names of clients he has done work for before. Be sure to call those clients.

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How to get home insurance after your house was burnt by arrson?

Insurance — Mon, 23 Apr 2012 10:00:46 +0000

Question by keron b: How to get home insurance after your house was burnt by arrson?
No one will insure us, what are we to do?

Best answer:

Answer by mbrcatz
Well, you’re probably going to have to go to an independent agent, and ask them to get you coverage through your state FAIR plan. It’s not as good as a regular homeowners policy, but I don’t think even a high risk company like Foremost would take you on.

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If the refinance company failed to pay home insurance and I have a lapse, and during that lapse I have a burgl?

Insurance — Mon, 23 Apr 2012 09:07:29 +0000

Question by : If the refinance company failed to pay home insurance and I have a lapse, and during that lapse I have a burgl?
I have a burglary during the lapse…are they responsible for damages? The NJ Dept of Banking and Insurance has found them guilty of not paying the premium when they should have but say they can not make them pay me anything.

Best answer:

Answer by reenzz
The NJDB can not force them to pay you. You can sue the company yourself for any damages you suffered due to their neglect.

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Whats the best way to handle Home Insurance Claim Adjusters during damage estimate of my house?

Insurance — Mon, 23 Apr 2012 08:08:48 +0000

Question by ReggieT: Whats the best way to handle Home Insurance Claim Adjusters during damage estimate of my house?
Recent tornado winds and heavy rains have damaged my shingles and caused water to leak through to one bedroom ceiling!

I’ve heard much about how they do their best to keep from paying you for damage! I just want to know my rights. Farmers Insurance is my coverage. Thanks

Best answer:

Answer by Jeffrey S
It depends on your coverage, but I would try to get an estimate for the needed repairs before the adjuster comes. That way, if you have any questions with his estimate, you already have back-up information. If you are not satisfied with his final product, talk to your agent about where to complain to next.

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I took home insurance with an insurance broker who then deals with various insurance companies.?

Insurance — Mon, 23 Apr 2012 07:14:29 +0000

Question by abc: I took home insurance with an insurance broker who then deals with various insurance companies.?
Is this a good idea? I had only one claim in more than 10 years and I am having trouble. Should I change and get my insurance directly from the company of my choice?

Best answer:

Answer by melissa b
I would when you have a problem and you use a broker its really hard to talk to someone..they tend to pass you back and forth

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Insurance — Mon, 23 Apr 2012 07:14:26 +0000

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My home is in foreclosure. Can I make a home insurance claim due. Will bank take money due to late payments?

Insurance — Mon, 23 Apr 2012 06:18:11 +0000

Question by : My home is in foreclosure. Can I make a home insurance claim due. Will bank take money due to late payments?
If I get a check from the insurance company, I need to get the bank’s approval/ authorization, along with the credit union for the 2nd on the home. Will the Bank who holds the 1st take the money and apply to the back payment that I am currently late on (5 months)?

Best answer:

Answer by troyboy
You should call a lawyer and discuss filing a Chapter 13 bankruptcy. That will take all the money you are behind on the house and spread it out over 5 years. You’ll still have to make the regular mortgage payment – plus the trustee payment to catch up.

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Is it better to file home insurance claims seperate or just one claim?

Insurance — Mon, 23 Apr 2012 05:25:22 +0000

Question by Mariobro1: Is it better to file home insurance claims seperate or just one claim?
My home sustained some damaged due to a snow fall back in december. I didn’t file a claim back then and now that I got some shingles damaged due to strong wind i would like to file a claim. I was told that i might need to file 2 seperate claims. Would it make a big difference if i put it all under just one claim instead of filing 2 seperate ones?

Best answer:

Answer by bull_rooster_aardvark
I think one claim is better (even though the amount is the same either way its just one tick on your insurance, not 2) but if it was 2 seperate incidents you may need to file twice (any way you can say both problems were caused by the same thing).

Also, if the amounts are not that great you may be better off paying either one out of your own pocket. With lots of claims your insurance premiums will go up (or possibly even get cancelled) and the claim may actually end up costing you money in the long run.

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