Home owners insurance inspection a month after home purchase?
Nationwide came out to my house today and said they had to check the outside my house gauge the property etc. she told me since more than 50% of my roof is flat that I will be getting a denial letter in the correspondence soon. We have already paid a year of insurance next to the closing cost or we wouldn't not have been competent to purchase our house. So what is the deal with them coming to look at it a month subsequently and saying that i will be getting a denial letter within the mail... She also said that if the inspector ok'd it that the denial letter will direct me from near... But still this doesnt sound right....a month after the purchase of the home... now they are coming out and looking for problems and asking question
Answers:
Never heard of that one up to that time. At most, I'd expect them to adjust the premium if the roof construction was something other than initially reported.
Well I had a similar problem and for some weird and wonderful reason they are allow to wait until closing. Find out if the first inspector reported the roof condition on his inspection. If not they are within just to denie the coverage. Otherwise they should refund your premium and allow the funds to be used to purchase coverage through a company that adopt those condition. Be advised that this may cost a tabb bit more so dont be surprised. Most Insurance of this nature will achieve their own inspection of the home to be insured.
This is the agent's fault but it is normal. The agent should enjoy asked you about the roof prior to offering coverage. Find a new agent and find another company that will cover the home. Other than that in that is little you can do except to appeal the denial, which probably won't do any good.
They will refund piece of the money that you've paid. Take that money and use it to purchase the new policy. If you shift through the escrow account the mortgage company will look at the total amount paid this year and will increase subsequent year's house payment to cover the two insurance payments. Source(s): Independent Agent
this is run of the mill. The insurance company waits so they do not cause a difficulty in your closing. You now should shop around for another company. I finally go with a local broker. Costs a few pennies more but he deals beside the headaches.
The good news is that this didn't impact the closing of your house. However, I would expect that if nearby were issues such as a flat roof that would disqualify you, they would do the inspection prior to issuing a policy, this is just stupid on their cog. I would begin shopping around for another insurance company now, a bit than wait for their denial letter. Also, they should be giving you a discount for the unused portion of the premium. In this case approximately 10/12ths of the amount you paid.
Well, the AGENT you talk to, either forgot to ask you if your roof was flat, or asked and you lied, or you told them the truth but they put a fake down on the application.
Flat roofs are a dealkiller with most homeowners insurance companies.
They inspect 100% of the new houses they insure, for basically this very reason. Most states, they can go against you the first 60 days, for any reason at all.
The agent you go with, did sloppy front line underwrite - either by failing to ask you about the roof, by not going out and looking at your house himself, or by misrepresenting the risk to the company. Shame on him. You should nickname him and yell at him. Guys like that make available ALL agents a bad rep.
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Answers:
Never heard of that one up to that time. At most, I'd expect them to adjust the premium if the roof construction was something other than initially reported.
Well I had a similar problem and for some weird and wonderful reason they are allow to wait until closing. Find out if the first inspector reported the roof condition on his inspection. If not they are within just to denie the coverage. Otherwise they should refund your premium and allow the funds to be used to purchase coverage through a company that adopt those condition. Be advised that this may cost a tabb bit more so dont be surprised. Most Insurance of this nature will achieve their own inspection of the home to be insured.
This is the agent's fault but it is normal. The agent should enjoy asked you about the roof prior to offering coverage. Find a new agent and find another company that will cover the home. Other than that in that is little you can do except to appeal the denial, which probably won't do any good.
They will refund piece of the money that you've paid. Take that money and use it to purchase the new policy. If you shift through the escrow account the mortgage company will look at the total amount paid this year and will increase subsequent year's house payment to cover the two insurance payments. Source(s): Independent Agent
this is run of the mill. The insurance company waits so they do not cause a difficulty in your closing. You now should shop around for another company. I finally go with a local broker. Costs a few pennies more but he deals beside the headaches.
The good news is that this didn't impact the closing of your house. However, I would expect that if nearby were issues such as a flat roof that would disqualify you, they would do the inspection prior to issuing a policy, this is just stupid on their cog. I would begin shopping around for another insurance company now, a bit than wait for their denial letter. Also, they should be giving you a discount for the unused portion of the premium. In this case approximately 10/12ths of the amount you paid.
Well, the AGENT you talk to, either forgot to ask you if your roof was flat, or asked and you lied, or you told them the truth but they put a fake down on the application.
Flat roofs are a dealkiller with most homeowners insurance companies.
They inspect 100% of the new houses they insure, for basically this very reason. Most states, they can go against you the first 60 days, for any reason at all.
The agent you go with, did sloppy front line underwrite - either by failing to ask you about the roof, by not going out and looking at your house himself, or by misrepresenting the risk to the company. Shame on him. You should nickname him and yell at him. Guys like that make available ALL agents a bad rep.
Related Questions: