by travershort » Wed May 13, 2009 09:36 am
victorian home was a total loss after fire. Insurance wrote a check for policy limits. but said we didnt have enough coverage to rebuild, and that we did not have guaranteed replacement cost but everything i have says replacement cost on structure. A1 replacement cost simular construction. They also show the square footage in several documents at 1096 square feet. the house was close to 3800 square feet. if this is the case it would cost them 450, 000 to build with like strucure are they lying about losing signed documents.
Posted: Thu May 14, 2009 05:57 am Post Subject:
they lying about losing signed documents.
Are you sure about it?
However, insurance policy is a legal contract and the insurance company can't deny the coverage they have promised in the policy. Losing the policy document wouldn't change its terms.
I hope you have saved the copy you were sent check with the policy terms to make sure about the coverage that you are entitled to. And let us know what you have found out.
Posted: Thu May 14, 2009 07:18 am Post Subject: the original home owners policy was written in 1974
when we inherited the house the just changed the name to estate exe "daughters name. over the years we have had a couple of claims they first denied then fixed after asking for a copy of the original signed policy not a copy of new brochure i am sure policies had different coverages then. the agent says the policy has never been written since then. but what about them showing in policies they have sent us the house only being 1096 sqare feet instead of 3500 +
Posted: Thu May 14, 2009 10:41 am Post Subject:
but what about them showing in policies they have sent us the house only being 1096 sqare feet instead of 3500 +
Was there any addition done in the property since then?
Posted: Thu May 14, 2009 02:14 pm Post Subject:
no and when they did there scope of the house to rebuild they left out basement and attic which really was one of the nicest rooms of the house.
Posted: Fri May 15, 2009 03:26 am Post Subject:
no and when they did there scope of the house to rebuild they left out basement and attic which really was one of the nicest rooms of the house.
Okay, the policy was written 30 years back and since then it wasn't reviewed or updated. I guess that the then owner of the property hadn't reviewed it either.
By the way, what type of policy is it?
What about the premium, was it reviewed or not?
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