Hello All
I have a few questions about our rental Home Insurance. Three years ago one of our rental house had a major water leak that required our insurance to pay out 25,000 to fix it. Just in October of this year we have a major wind and hail damage to the roof. The damage also caused a leak on a roof that required some repair on the ceiling in some rooms upstairs. We have a contractor and they estimate the repairs for close to 27K. The adjuster sent by insurance only pay 13K. Our contractor told us that they have their own lawyer team to make sure the insurance will cover up to 27K. The questions I would like to ask are
1. Should I have a contractor to represent us to work directly with insurance to make sure all the damages get repair?
2. If there are two much claims or the cost on claim too high on this rental house does it affects the future renewal? Is it adding more risk of getting turn down from renewal or buying insurance for this house in future?
3. Will this increase our home insurance premium?
Thanks in advance for your answer and which you have a blessed Christmas and enjoys your holidays
I have a few questions about our rental Home Insurance. Three years ago one of our rental house had a major water leak that required our insurance to pay out 25,000 to fix it. Just in October of this year we have a major wind and hail damage to the roof. The damage also caused a leak on a roof that required some repair on the ceiling in some rooms upstairs. We have a contractor and they estimate the repairs for close to 27K. The adjuster sent by insurance only pay 13K. Our contractor told us that they have their own lawyer team to make sure the insurance will cover up to 27K. The questions I would like to ask are
1. Should I have a contractor to represent us to work directly with insurance to make sure all the damages get repair?
2. If there are two much claims or the cost on claim too high on this rental house does it affects the future renewal? Is it adding more risk of getting turn down from renewal or buying insurance for this house in future?
3. Will this increase our home insurance premium?
Thanks in advance for your answer and which you have a blessed Christmas and enjoys your holidays