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A huge database not only tracks claims, it also looks for risks -- which could cause dropped coverage and other nightmares for homeowners.
You probably know that it's not a good idea to make too many claims on your homeowners insurance policy, because your insurer could drop you.
What you might not know is that a claim could make selling your home more difficult down the road. What's more, you could find your home's value damaged or a sale jeopardized even if a previous owner, and not you, made a claim.
Interesting article, mostly false but interesting none the less.
Didn't read the article but the insurance companies have been doing this for YEARS! Have one friend whose home almost could not go thru w/ a sale because the buyers ins would not insure it because records from the PREVIOUS owners showed a fire. They DO know what goes on.
Didn't read the article but the insurance companies have been doing this for YEARS! Have one friend whose home almost could not go thru w/ a sale because the buyers ins would not insure it because records from the PREVIOUS owners showed a fire. They DO know what goes on.
I know they know what is going on but read the article. There is probably more to the story then you are telling about your friend's house, probably unrepaired damage, which would have given the insurance company a reason to not insure the home. Also, not all insurance companies look at previous damage, they look at the claim history of the PERSON applying and THAT can cause them not to accept a policy not so much the previous history of the HOME. If there is unrepaired damage to a home or car for that matter, insurance companies can make you fix it before they will write a policy.
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