My home owners insurance was canceled when an outside review

by eleanor.young » Wed May 12, 2010 06:28 pm

The house was built in the 1950's.
The frame is wood, outside is slate.
I have an adjustable foundation.

Total Comments: 3

Posted: Wed May 12, 2010 06:50 pm Post Subject:

Okay... and.... ???

Posted: Wed May 12, 2010 07:06 pm Post Subject: insurance on contents of home

After an outside review of my home, my home owners insurance was canceled. I was told that I needed to have my foundation repaired and a corner of my house would need to have the wood replaced. I received estimates of $8,000 for this work. Unfortunately, I can not have all of this done now. The holder of my home loan has placed insurance on the house itself, but this does not cover the contents. I need insurance on the contents of my home. Can I get insurance on the contents of my home before I get this work done?

Posted: Wed May 12, 2010 07:12 pm Post Subject:

I don't have experience with it but I can't imagine that your mortgage company is going to foot the bill for the dwelling insurance. I'm betting that they are going to add this into your loan. Have you spoken to them about this? What is the cost going to be?

What about looking for a policy with another company? This would have been easier before your policy was cancelled as this might be a question the new carrier would have.

I'd speak to a local agent as well to see what they might be able to work out for you.

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