Barn blaze was lit accidentally (Bangor, Milo: insurance, how much, house)

[truthseeker2012]

Goggin has said he had insurance on the building but expected it would not cover the total loss.



Chief: Barn blaze was lit accidentally - Bangor Daily News (http://bangornews.com/detail/97398.html - broken link)

[corgis]

How terribly sad for them to lose so much.

[reindeerlady]

My heart goes out to anyone who suffers such a loss during winter - it makes it all that much harder. They seem to have the right attitude, tho - he's alive and that's what is important. I didn't realize oil furnaces could get overtaxed; I will remember this

[msina]

Any building you own should be insured. We've had a few fires here in Milo, it was aweful. I'm glad no one was hurt ,and I'm glad they were responsible enough to have insurance.

[ILUVMAINE]

This is such a tragic accident. Thank God no one was injured and what a brave job the firefighters did in trying to save both structures.

[corgis]

In insurance terms there is a vast difference between vacant and unoccupied - If a house or barn is totally vacant - no furniture, no curtains, nothing in the barn, it can be insured as vacant which means that the policy becomes a Dwelling Fire Policy and only covers the building itself.

Unoccupied is what those people's house was - that means it had furniture, rugs, dishes, all the accourtements of living but the people didn't live there. The insurance then becomes either a regular homeowners policy or a seasonable homeowners policy, depending on how much time is spent in the house.

Since the article stated that the house had some furniture, antiques, tools and equipment in the barn it was most certainly not vacant, but unoccupied and yes, if there is a mortgage, the bank demands insurance on the property. Only if the property is totally owned by the person can the insurance be dropped and that would be one of the stupidest things anyone could do.

I'm speaking as a retired insurance agent who is licensed to insure in the State of Maine.

[Cornerguy1]

Sorry to delete so much material, folks, but there are some real concerns about libel based on some comments since removed from the original post.

Thread closed.