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Old 10-10-2017, 02:07 AM
 
17 posts, read 5,228 times
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I've seen a lot of discussions about hurricanes and about hurricane insurance. But not an answer to this question.

If you ever had a house greatly destroyed by a hurricane, and you had had all the insurance that you thought you needed, how did it turn out for you? Did you end up with a house that was just as good? How about temporary accommodations while the house was rebuilt -- were they too covered by the insurance? Were you able to replace any vehicles, everything that was inside the house, etc.?

In other words, if you had enough insurance, did you end up pretty much breaking even at the end, or was there still a significant net loss after all of the insurance claims had been processed?

Let's not count loss of things of sentimental value, e.g., old love letters (on paper), family photos (on paper), etc., as obviously these cannot be replaced by insurance. And it goes without saying that you would have had to pay any insurance deductible.

Another interesting question is: After the insurance paid to rebuild the house, was it a noticeably better house because it was newer? E.g., better insulation, more energy-conserving appliances, etc.
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Old 10-11-2017, 04:02 AM
 
Location: Tampa, Florida
1,554 posts, read 3,254,756 times
Reputation: 2569
I had significant damage in Frances. I remember thinking I got a fair settlement from the insurance company but I did end up considerably out of pocket. There was a deductible, of course, but I also upgraded in the process. I had crappy kitchen cabinets and countertops so when I replaced those I replaced them with nice cherry wood cabinets and granite countertops. I had an old shingle roof that I got replaced with metal. I believe my policy at the time covered accommodation but I had a friend wit ha couple extra rooms he wasn't using that he offered to me and I took him up on it - much more comfortable than a hotel.


My house was not rebuilt so I cannot really properly answer your last question but my educated guess from my experience would be no. They pay a replacement value for what you actually had. If you want to upgrade that's on your dime.
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Old 10-11-2017, 09:25 AM
 
Location: Winter Garden, FL
287 posts, read 90,391 times
Reputation: 218
My step father had a house (duplex converted to single family) in Fort Pierce on Hutchinson Island back when the 3 storms hit Florida and had significant damage, mainly due to flooding but some roof damage as well. From what I remember, the Insurance company covered everything except for the difference in upgrades that were selected (I.E. Higher end cabinets and granite for the kitchens).

I seem to recall 170K being the amount paid out for damages. At the time he had another house further inland so just relocated there while repairs were being made which took 4-6 months.

As far as your question - Insurance pays the fair market rate for items you can prove you own (Why everyone says to document & take pictures), they assign a value and in some cases depreciation, then pay that amount. I lost about 8-10K in value (That I now have to pay out of pocket for) based on things taken during a robbery last year based on this process, as well as items they didn't cover because I apparently didn't have the right insurance (I.E. Jewelry)
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Old 10-12-2017, 01:14 AM
 
17 posts, read 5,228 times
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Nice replies ... thanks.

A lot of companies (e.g., cellphone providers) point out fine print after the fact and refuse to give you what they had promised. It's good to know that hurricane insurers don't play these type of games, at least based on the two anecdotes above.
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Old 10-12-2017, 06:19 AM
 
3,226 posts, read 5,288,904 times
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Quote:
Originally Posted by gonc View Post
Nice replies ... thanks.

A lot of companies (e.g., cellphone providers) point out fine print after the fact and refuse to give you what they had promised. It's good to know that hurricane insurers don't play these type of games, at least based on the two anecdotes above.
And some insurance companies fought for years to not pay out after 2004. We had several condo buildings that were torn down and never rebuilt.
They fought between flood and wind damage and neither insurance would want to pay. They also balked at which storm caused damae. Dd you have to pay 2 deductibles or one and if you did further damage by not getting property covered and secured while waiting for the inspections and settlements.
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Old 10-12-2017, 11:53 AM
 
55 posts, read 8,068 times
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Quote:
Originally Posted by Rabflmom View Post
They fought between flood and wind damage and neither insurance would want to pay. They also balked at which storm caused damae. Dd you have to pay 2 deductibles or one and if you did further damage by not getting property covered and secured while waiting for the inspections and settlements.
OH yeah that has always been an issue. Nobody wants to pay. They only want the premiums.

I hate dealing with insurance companies. That was one of my biggest fears during Irma because even though I never had a claim I have heard horror stories. I dealt with a car accident which was not my fault but had to spend hours on the phone to get the money. Unfortunately Irma damaged my home. I haven't heard from them yet(they already did the inspections) but honestly at this point I don't care. Enough stress already.

I recommend that people seek legal help if they need to make a claim. An expert will tell you what steps you need to take so the insurance doesn't blame you for the damage. Some things need to be taking care of immediately like removing all the water etc.

I have also been a juror in a case where a insurance was involved. They have the best lawyers and the media doesn't help either always painting average citizens as thieves who want to scam insurance companies. People tend to side with big corporations now days.
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Old 10-12-2017, 02:49 PM
 
Location: Ocala, FL
326 posts, read 372,017 times
Reputation: 869
My homeowner's insurance refused to pay for tree removal or repair of my fences (horse property) as "the fence wasn't attached to the house" and none of the six huge trees actually fell on the house. Never do business with Tower Hill Insurance. I have a quote of $8700 to remove the trees, not including the stumps, that I will have to pay out of my pocket. I may be able to get it done cheaper in a few weeks when the demand dies down, but my neighbors are complaining about the trees in the yard. They have offered to help remove them, but all I can see is one of them (all elderly) getting hurt and them or their insurance company suing me. They'll just have to be patient.

FEMA also denied my request for assistance since the trees didn't fall on the house and the SBA denied assistance as apparently we owe too much money to repay their loan. That's what I get for driving a nice car, I guess.

I'm still waiting to see if St. John Insurance is going to pay for repairing the roof and ceiling damage done to one of my rentals. Luckily I had funds set aside in my rental repair fund which is now depleted.
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Old 10-12-2017, 05:45 PM
 
17 posts, read 5,228 times
Reputation: 25
Quote:
Originally Posted by FloridaHappy View Post
[M]y neighbors are complaining about the trees in the yard. They have offered to help remove them, but all I can see is one of them (all elderly) getting hurt and them or their insurance company suing me. They'll just have to be patient.
May I ask why your neighbors are so concerned about trees on your own property? Is it an HOA requirement? If it's a natural disaster situation, I think it would be unreasonable for an HOA to make excessive demands without giving you sufficient time.
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Old 10-12-2017, 08:36 PM
 
306 posts, read 227,200 times
Reputation: 413
These little start up rogue carriers like tower hill have no track record or enough resources. Blame the fools Florida elects for enabling them to operate in the first place. There is a reason why the deep pockets fled Florida, and it really started after Andrew in 92. But everyone saw the hard truth after the 2004-05 season.

All of these BS 3rd rate carriers start up with the states approval and offer much better rates than the state run Citizens. The state encourages and traps people to convert as they de-populate the state operated carrier. Then the big one hits and these flim flam carriers won't and can't settle claims. They had over a decade of no storms and look at the greedy pigs both the carriers and their corporate boot lickers in Tallahassee. Your vote has consequences, and this is what Florida deserves as the vote proves.
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Old 10-16-2017, 07:26 PM
 
Location: Ormond Beach, FL
1,082 posts, read 1,045,894 times
Reputation: 859
Quote:
Originally Posted by gonc View Post
I've seen a lot of discussions about hurricanes and about hurricane insurance. But not an answer to this question.

If you ever had a house greatly destroyed by a hurricane, and you had had all the insurance that you thought you needed, how did it turn out for you? Did you end up with a house that was just as good? How about temporary accommodations while the house was rebuilt -- were they too covered by the insurance? Were you able to replace any vehicles, everything that was inside the house, etc.?

In other words, if you had enough insurance, did you end up pretty much breaking even at the end, or was there still a significant net loss after all of the insurance claims had been processed?

Let's not count loss of things of sentimental value, e.g., old love letters (on paper), family photos (on paper), etc., as obviously these cannot be replaced by insurance. And it goes without saying that you would have had to pay any insurance deductible.

Another interesting question is: After the insurance paid to rebuild the house, was it a noticeably better house because it was newer? E.g., better insulation, more energy-conserving appliances, etc.
I don't think there is an answer to your question. Each situation is different.

Our wind insurance policy has a 5% deductible so we would pay at least that much out of pocket. In Florida if you do a significant change ( I think spending 30% of your homes value may trigger the rule), you have to bring the house up to current code.

I would not buy a house with the idea you can recover from a hurricane hit without a significant out of pocket expenses.
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