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 Posted: Fri Oct 17, 2008 10:12 pm Post subject: Will an insurance company insure our home if there is a unpe |
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"I'm in the process of buying a foreclosure home (
Saratoga,CA, can't transfer the insurance since it has already lapsed) that has a detached unpermitted cottage (2 bedrooms, kitchen, bathroom and living room total of 900 sq ft), the main home also has a unpermitted converted garage that is used as a in law quarter (separate entrance and full bathroom), it also has a unpermitted sun room too. I really love the home and tried looking for home insurance but it looks like no one will insure me. Is there anyway I can get insured for this property without having to lie about these unpermitted additions to the insurance company? Any advice would be appreciated and any suggestions which insurance company would insure me for a reasonable price.
one of my client ask me this, I am confused can it be possible.
please help |
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masteris009
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| Posted: Fri Oct 17, 2008 11:48 pm Post subject: |
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How would the insurance agent know the add-on's are "illegal?"
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Life moves pretty fast. If you don't stop and look around once in a while, you could miss it. - Ferris Bueller |
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LifeIsGood
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| Posted: Sun Oct 19, 2008 2:12 am Post subject: |
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| Only if you told them. Actually around here we don't even use permits...(shh, don't tell) and still get insured. |
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fireyone
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| Posted: Sun Oct 19, 2008 3:47 am Post subject: |
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That is what I was wondering. When a customer calls, I ask for square footage, materials the house is built of, etc.
I never ask if there are permits.
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Life moves pretty fast. If you don't stop and look around once in a while, you could miss it. - Ferris Bueller |
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LifeIsGood
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| Posted: Sun Oct 19, 2008 11:18 pm Post subject: |
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| Someone once told me it would make a difference if you went to sell the home. I never figured out why cause I have actually sold a home to a private buyer and it never came up. |
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fireyone
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| Posted: Mon Oct 20, 2008 8:49 am Post subject: |
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Well, the insurance company might not insure the un-permitted addition since its an illegal erecting and property inspection department may ask to tear it down in the future. The insurance company may wish to avoid any claim arising out of such situation.
However, its true that the insurance company has no way to know whether or not the addition is an illegal construction. However, it may help to stay honest.
Thanks,
Rupert |
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RupertWBradson
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| Posted: Mon Oct 20, 2008 3:23 pm Post subject: |
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I believe in honesty. I just recently found out though how much hassle it is to get anything done through a permit..and expensive too. Just when you think everything is ready to pass they come up with some new code that holds things up and adds to the out of pocket expenses.
Example: My brother worls construction. He and his crew were doing an addition with a certain size block . Went and bought the block, started laying in and boom they changed code size on the block and they had to start all over. I asked him how this could happen and he said it wasn't finished (the block) before the code change. |
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fireyone
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