U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > North Carolina > Raleigh, Durham, Chapel Hill, Cary
 [Register]
Raleigh, Durham, Chapel Hill, Cary The Triangle Area
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 03-23-2011, 02:20 PM
 
632 posts, read 1,670,761 times
Reputation: 583

Advertisements

Not a re-inspection, but when our new house was finished last fall, Nationwide sent a nice woman out to "inspect" it, inside and out. She took pictures of certain indoor features so that they were documented: granite countertops everywhere, the "above-average" moldings, etc. As I see it, it was as much for our protection as the insurance company's in the event we needed to file a claim.

I think it's good business practice for the ins. company. I imagine many false claims over the years has driven them to this. I know that our last house was over-insured (in IL) because when they asked the value of it, we forgot and included the cost of the land, but we just let that amount stand since the premium seemed reasonable. I always wondered that if something happened to it, would we get the insured amount to rebuild (there were never any pics taken by them--not even a drive-by to see the outside).
Rate this post positively Reply With Quote Quick reply to this message

 
Old 03-23-2011, 02:51 PM
 
Location: Durham, NC
2,024 posts, read 5,523,405 times
Reputation: 3474
Longtime (nearly 20 year) USAA member for auto/home insurance.

Just called to get a new homeowner's insurance policy for a house we're renovating in Durham, and an inspection will be required before the policy is issued.

Which I can totally understand, since it's valued at over $600k and since it dates to the 1920s, with things like a slate roof and other historic touches that aren't exactly standard and also would be pricy to replace.

Didn't really bother me, I can feel for why an insurer wants that level of assurance.... And I certainly don't want to switch from USAA, though there's a firm that's affiliated the Nat'l Trust for Historic Preservation that we'll look at too.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-23-2011, 03:38 PM
 
9,197 posts, read 22,975,983 times
Reputation: 8554
Quote:
Originally Posted by no kudzu View Post
8th my policy is for a specific amount so if I'm under insured then that is my problem. In all my experience with insurance policies, they always adjust for inflation without inspection.
Kudzu - FWIW, this is one decent article I was able to find on a quick search that explains underinsurance and your "coinsurance" clause.

Coinsurance Clause | Coinsurance Penalty | The Truth About Insurance.com
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-23-2011, 03:48 PM
 
1,246 posts, read 3,890,853 times
Reputation: 1067
When my husband first purchased his house ($150k in Sacramento), USAA sent someone out to evaluate the home for insurance. Measured, etc. Once I started working at USAA, I took a look at the homeowners coverage and the repl value on the house seemed REALLY high. He called in to find out why and they had over estimated the square footage of the house by over 500 sq feet. Surprisingly, the second floor of the house was larger and jutted out over the backyard to accommodate all that extra sq footage. USAA fought tooth and nail saying it was his job to make sure the house was properly insured, etc, etc, yet he had never seen the final inspection report to see that they estimated the house to be bigger than it actually was. Took months and letters to the insurance commissioner to get it straightened out. Word to the wise. Look over every bit of that inspection report if you do have it done. Follow the person around and make sure you get a copy of that report!

And Tabbycats, if your house burnt to the ground, most insurance policies only cover to replace it to the condition it was in prior to the loss. So if you had formica and vinyl in the kitchen, that is what you'd get again unless you wanted to pay out of pocket for it. The policy isn't there to improve your home in the event of loss (other than updating wiring or bringing other things up to new code).
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-23-2011, 03:55 PM
 
2,627 posts, read 2,730,610 times
Reputation: 2635
Quote:
Originally Posted by cncsmomndad View Post
....

And Tabbycats, if your house burnt to the ground, most insurance policies only cover to replace it to the condition it was in prior to the loss. So if you had formica and vinyl in the kitchen, that is what you'd get again unless you wanted to pay out of pocket for it. The policy isn't there to improve your home in the event of loss (other than updating wiring or bringing other things up to new code).
That is why everyone should have a complete inventory (with photos) of all the larger items in their house (and have it stored in a secure facility off premises). If your house burns to the ground you will need to prove to the insurance company that you own what you own, both from a finishes and fixtures in/on the house to a contents perspective. Just spend $5k or $10K on expensive electronics for your home theater, well you need pictures of the equipment (preferably with the receipts next to the items) and maybe a rider to insure the items depending on the type of device.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-11-2012, 09:36 AM
 
1 posts, read 6,959 times
Reputation: 10
I am a vendor contractor and I do home inspections for USAA. This sounds Legitimate to me. It is very common for USAA underwriters to require a home inspection even though you have lived in the dwelling "forever". What is happening is the replacement value of the property has to be re-calculated. Insurance companies are now starting to re-calculate on regular basis. A home inspection is required.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-04-2012, 08:42 PM
 
1 posts, read 6,874 times
Reputation: 13
I had a call today also from a "USAA" liscensed inspector. He wants to go into my rental property to take photos and assess if we have enough insurance. I went to the USAA website and searched "home inspection" They have contracted with several independent companies to do this. First time I ever heard of this from an insurance company. I suspect that they want to tell us, that we are underinsured and raise the coverage amount and of course the policy $$$. This company is getting more difficult to deal with as the years go on. I will be checking into a different insurance company very, very soon
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-04-2012, 08:56 PM
 
4,598 posts, read 9,372,792 times
Reputation: 2517
Here's another fun insurance factoid. Apparently if you call your company to just ASK what your policy covers for loss, that counts as making a claim. Even though you never actually made a claim. We've been having a fun fight with Liberty Mutual over that one the past few months.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-05-2012, 04:14 PM
 
31,027 posts, read 37,075,630 times
Reputation: 13325
Quote:
Originally Posted by no kudzu View Post
Today had a call from USAA rep saying they had to reinspect our house to make sure we had enough insurance on it. House is only 3 years old and I certainly was not happy about letting some stranger go room to room and take pictures and I said so. Finally I told him to send me his card and I would get in touch with him when it was convenient. Then he said he had a place on his form for me to make a comment and I said "Well in 40 years of homeownership I have never had anybody want to reinspect a house after only 3 years and it is a big inconvenience and I don't like it" Then and only then did he said "Well you can refuse to do it if you want" Which of course I did.

Is this usually done in N.C.? Anybody ever have this experience before?
Could this call not been legit? He did tell me to go to USAA website and look under "home inspection". I'm worried and confused.
As others have said sounds strange to me also. Did they actually say they were from USAA insurance or did they say they were calling about your insurance from USAA and need to inspect your home to make sure your coverage is adequate? The latter could well be another insurance agent trying to drum up a sales possibility.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-12-2012, 05:50 PM
 
1 posts, read 6,569 times
Reputation: 10
Usually it is not a representative of USAA but rather a Field Representative from another company contracted by USAA to do the inspection. (For example Mueller Services has been a leader in the industry.) The reason for the inspection is simply to make sure you are not paying too much for your insurance (as in the value of your home has gone down or the cost of materials to replace has gone down) or too little (for example: you have granite counter-tops but they don't know that. When your house burns down they only want to pay for cheap vinyl. If you have an inspection there is now proof that you had granite counter-tops).

USAA will sometimes send a letter giving you a heads up regarding the inspection, however they sometimes fail to do so or perhaps it was tossed in the trash bin with the usual "junk" mail. However, by going to USAA's website and typing in "Home Inspection" they will give you the needed information.

Of course, scammers are out there, however the legitimate Field Reps are required to have you with them for the entire interior inspection (to ensure nothing mysteriously goes missing) and their pictures are not as intrusive as you would think. Usually just a quick shot to prove that the room is in existence (in case you were claming a 12 bedroom house on that 2 bedroom house) and that you aren't trying to burn it to the ground (as in you don't have a flame thrower sitting in the corner).

Though it can be "inconvenient" if a situation ever did occur where you lost everything, at least you would have the peace of mind knowing you WILL receive the FULL value of your home.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:




Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > North Carolina > Raleigh, Durham, Chapel Hill, Cary
Similar Threads

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top