***Unusual circumstance with Homeowners Insurance

[JoeK99]

Hi,

My name is Joe. I need help/advice on a new Homeowners insurance. It's kind of a long story so I will try to keep it as short as possible.

Back Story: I took care of my mother until she passed away. The house and policy were in her name. I eventually got Executorship and then the deed placed in my name. BUT, in-between the time my mom passed and me getting the house in my name, there was water damage caused by two leaks behind the shower wall. The Homeowners policy was in the Estate of my mom and I was in charge of it. The policy was almost double the cost because of it being in an Estate form. I handled things the proper way. And now the claim is closed.
Now the problem: I just got the house in my name. I am trying to find a Homeowners policy for myself. I can't find anything cheaper than the Estate policy and have actually been denied by some insurance because of the claim. If the claim is closed, the problems are fixed, and the ownership changed, shouldn't I have a clean slate to start? I am told it could take up to 3-5 years for the claim to clear.

Any advice?

Thank you,

Joe

 

[fed up]

The loss is at the address but you should be able to get an Underwriter to scrub the loss because it was a different owner.

 

[JoeK99]

The loss is at the address but you should be able to get an Underwriter to scrub the loss because it was a different owner.

Thank you for replying.

This stuff is all new to me. How do I go about that?

 

[fed up]

Meet with an agent in his/her office, explain what happened with the ownership as they are doing the application

 

[JoeK99]

Meet with an agent in his/her office, explain what happened with the ownership as they are doing the application

Thank you.

 

[adjusterjack]

Insurance rates are predicated on the risk of potential loss. A home with plumbing leaks is a greater risk for future plumbing leaks. It's the house that counts, not the owner. Underwriters have access to industry data bases where they can put in the address and see the claims history.

You might be stuck with high rates for a while but I suggest you shop every renewal anyway.

 

[Markthebroker]

Adjusterjack gave you misleading incorrect information. Follow the advice from Fed up.

 

[JoeK99]

Meet with an agent in his/her office, explain what happened with the ownership as they are doing the application

I met with an agent. He is an old friend of mine. I mentioned what you told me to do. He said an Underwriter works for the insurance, but just to review whether to accept policies. He said that he himself is just an agent and doesn't have anything to do with the Underwritter. He also mentioned that a claim can sometimes follow a house or a person. He is gonna get back to me on Monday.

 

[adjusterjack]

Adjusterjack gave you misleading incorrect information.

I never fight with a pig. I would just get dirty and the pig would have all the fun.