by Guest » Fri May 15, 2009 02:14 am
I have a property that I purchased from family that consists of a main house with 65,000 in coverage and a carriage house (appraised at 23,000) that only is covered as an "other structure" with a maximum amount of damage to be paid on any loss is ten percent of the 65,000 in coverage of the main house or 6500 dollars.
I can't see in the policy where they depreciate for life of shingles, nor can I see where it states that they will replace based on acv. Typically are shingles the only part of the roof that would be depreciated or would they depreciate the damaged decking and roof egde as well?
My second question is if they have to make me whole or up to 6500 whole, and the electrical meter base which met code before the wind damage as a 60 amp service, has to be brought up to a new code with a 200 amp or 100 amp meter base, will the policy cover the expenses and the requirement to bring up to code?
I can't see in the policy where they depreciate for life of shingles, nor can I see where it states that they will replace based on acv. Typically are shingles the only part of the roof that would be depreciated or would they depreciate the damaged decking and roof egde as well?
My second question is if they have to make me whole or up to 6500 whole, and the electrical meter base which met code before the wind damage as a 60 amp service, has to be brought up to a new code with a 200 amp or 100 amp meter base, will the policy cover the expenses and the requirement to bring up to code?
Posted: Sat May 16, 2009 01:45 am Post Subject:
Mike O' the Ozarks-
Couple of questions- First of all, is it a dwelling policy or homeowners policy? You stated "dwelling" and normally people don't say that unless they either (a) are in the business, (b) know more than the average person, or (c) have the policy in front of them. In any case- if it is a dwelling policy, is a a DP-1, DP-2 or DP-3? Check out your declarations page, it's gonna be on there. Which dwelling form it is can make a difference. As well, if it's a homeowners policy, I need to know which form you have there.
Second: are you living in the home, renting it out or is it vacant? Is the home deeded to you, and are there any outstanding liens on the home?
Third- the amounts of coverage you stated for Coverage A seem low for just about any dwelling, unless it's really small. How was that amount of coverage determined? Is it based on the replacement cost of the dwelling or is it a true ACV policy? Again- check out the dec page.
If you can provide me more info, I think I can give you answers.
InsTeacher 8)
Posted: Sat May 16, 2009 07:30 am Post Subject:
You stated "dwelling" and normally people don't say that unless they either (a) are in the business, (b) know more than the average person,
Well, he surely do, don't you Mike?
I think he only forgot to login :wink:
Posted: Sat May 16, 2009 03:25 pm Post Subject:
Couple of questions- First of all, is it a dwelling policy or homeowners policy? You stated "dwelling" and normally people don't say that unless they either (a) are in the business, (b) know more than the average person, or (c) have the policy in front of them. In any case- if it is a dwelling policy, is a a DP-1, DP-2 or DP-3? Check out your declarations page, it's gonna be on there. Which dwelling form it is can make a difference. As well, if it's a homeowners policy, I need to know which form you have there.
Second: are you living in the home, renting it out or is it vacant? Is the home deeded to you, and are there any outstanding liens on the home?
Third- the amounts of coverage you stated for Coverage A seem low for just about any dwelling, unless it's really small. How was that amount of coverage determined? Is it based on the replacement cost of the dwelling or is it a true ACV policy? Again- check out the dec page.
If you can provide me more info, I think I can give you answers.
I purchased the home ( about 1000 sq feet brick) from my inlaws to keep them from losing it. It's an older home built in 1930. It is all original and like walking into the 1930's when you enter the house.( It is also two homes down from the famous Bonnie and Clyde shootout in Joplin Missouri during the 30's. My father in law and his brother actually got to sit in Bonnie Parker's lap as all the neighborhood kids played on the corner lot which housed their garage hideout.) Just a bit of trivia and the relevence is that just this week the Bonnie and Clyde apartment received a national historical recognition and it is preserved as it was during the famous shootout. I intend to turn my property into a bed and breakfast inn when my inlaws can no longer care for themselves or decide to live there.
They would only sell me a dwelling policy since I would not be residing in it myself. It is designated a DP1 basic form with a DP300MO endorsement for Missouri. The carriage house (other structure appraised at 23,000) which is about 800 sq feet was used as a primary residence with it's own utilities and can not be used as a rental as the city only designated it a special use permit for a caretaker to reside in the 80's. It is now just my father in laws hobby shop. They would not sell me a separate dwelling policy on it as it could not be rented or occupied.
Well, he surely do, don't you Mike?
I think he only forgot to login
I use Mike O' the Ozarks from home computer as it will not let me post with my login name even though it says I am logged in.
Posted: Tue Jun 16, 2009 05:24 pm Post Subject: Dwelling policy claim question
Enjoyed reading the history of your property. I think I read that Fireman's Fund Insurance Company offers something called Historic Property-Gard Coverage so a call to an agent might be of help. Good luck with finding better coverage.
Posted: Wed Jun 17, 2009 05:38 am Post Subject:
I use Mike O' the Ozarks from home computer as it will not let me post with my login name even though it says I am logged in.
I think its a little cookie problem. :)
Try to remove the cookies and cache and login again. May be it'd solve your problem.
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