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Old 05-19-2018, 06:21 AM
 
822 posts, read 274,457 times
Reputation: 1319

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Quote:
Originally Posted by Parnassia View Post
That's the question. If it truly was the neighbor's fault, their insurance should have covered your damage....if they HAD insurance of course. If you couldn't get satisfaction you would get your insurance company to go after theirs, but that isn't the same thing as filing a claim on your own for something.
If the neighbor did not have liability coverage, there’s nothing to go after.
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Old 05-19-2018, 07:48 PM
 
Location: Phoenix, AZ
999 posts, read 357,539 times
Reputation: 2382
Quote:
Originally Posted by Crimson_flower View Post
I have filed 4 claims in the last 5 years. Now I am going to purchasing a new house, but no insurance company is willing to insure me. So I have to turn to NEw York Property insurance underwriting association.
Anyway, the lender’s homeowner insurance requirement is “cope of Coverage. Coverage must be at least fire and extended coverage with a "special form" coverage endorsement,
i.e.: fire only - DP1 or DF1, homeowners policy - HO1 (as opposed to "Broad" form - HO2 - except in Texas). “

Does it mean I need only HO1/HO2 to satisfy the lender? I have big trouble in getting HO3. NY Fair doesn’t provide liability.
"Special Form" is the equivalent of a DP-3 or HO-3.


Quote:
Originally Posted by Crimson_flower View Post
I have big trouble in getting HO3.

Does that mean you have been quoted a BIG price that you find too high to pay? Or are you just getting turned down for the HO-3?


Have you tried an independent agent who has access to surplus lines brokers. There are companies that write high risk HO-3 policies. One such company is Scottsdale Insurance Company, now part of Nationwide but still only available through surplus lines brokers.


You'll pay a lot for the policy but you should be able to get one.


Quote:
It sucks. All these 4 claims were my neighbor's fault: their water pipes were broken three times, AC supply line has excessive water and damaged my house.

What kind of house were you in that your neighbor's lines affected your house?


You might want to get your CLUE report and see what insurance companies see.


https://personalreports.lexisnexis.c...83897AD63B64A4


Then come back and report.
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Old 05-20-2018, 08:05 AM
 
Location: MID ATLANTIC
7,434 posts, read 16,997,136 times
Reputation: 7762
I work with many international buyers and the Chinese view homeowner's insurance as a bet that never pays off, so they do without when they own a home free & clear. For as much legislation our industry has experienced, I am amazed more thought and demands for transparency has escaped the insurance business.

Unfotunately, even if it were the neighbor's defect that caused the reason for the OP's damage, claims are routed to your own carrier and then they duke it out with the neighbor's carrier. And, the neighbor's coverage is also going sky high with the claims.

I'm not certain what the OP's next move is, but this is a classic reason why many pay for damages out of pocket, instead of filing a claim.
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Old 05-20-2018, 08:17 AM
 
Location: Colorado Springs
3,947 posts, read 3,972,439 times
Reputation: 13720
Ironic that if you actually make claims, your insurance company will drop you.

That happened to my mother in law. She had made about 3 claims for water damage due to leaky roofs, sinks, and water heaters.

So they dropped her.

Live and learn.
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Old 05-20-2018, 04:27 PM
 
Location: on the wind
2,743 posts, read 961,605 times
Reputation: 9730
Quote:
Originally Posted by Vision67 View Post
Ironic that if you actually make claims, your insurance company will drop you.

That happened to my mother in law. She had made about 3 claims for water damage due to leaky roofs, sinks, and water heaters.

So they dropped her.

Live and learn.
Funny, I've made one claim to a homeowner's policy in 22 years of home ownership. It wasn't a trivial matter. They paid it. Policy wasn't dropped, but was renewed on schedule. The premium was primarily the same.
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Old 05-21-2018, 03:33 PM
 
8,858 posts, read 5,475,177 times
Reputation: 9289
Quote:
Originally Posted by Vision67 View Post
Ironic that if you actually make claims, your insurance company will drop you.

That happened to my mother in law. She had made about 3 claims for water damage due to leaky roofs, sinks, and water heaters.

So they dropped her.

Live and learn.
Lesson learned. Unless you had major damage where the entire floor, drywall and electric were involved it's better to not submit a claim. Seems they only want to insure you if you don't use it. The best way if when you are old and ready to sell your house use it for damages, get the home fixed up and then sell and don't buy again.
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