Can our home insurance drop us for a bad roof?

by Guest » Fri Sep 20, 2013 07:04 am
Guest

That’s right! Our insurance company dropped us and now the loan officer is saying that they’ll get us a new insurer with far more coverage $200,000. On this day, the house costs $80,000. We purchased it 9 years ago and still bearing the monthly premiums…never had to pay any late fees. It hardly has any equity built in. Is this right? Can they do that?

Last year we had an inspection against a claim. We got the money but not enough to carry out the required fixings. We had a $50,000 deductible.

Total Comments: 2

Posted: Mon Sep 23, 2013 06:53 am Post Subject:

Yes, you can be dropped for not maintaining the home. The insurance the bank got it is protect what you owe, not really give you coverage.

Yes, they can if you don’t maintain the home properly. The bank is more concerned about that money you owe and therefore they can do anything to satisfy their own interest.

Posted: Mon Sep 23, 2013 07:04 am Post Subject:

How can you be so sure that it was only because of the roof? Did they convey the issue in writing?

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