Your Questions About Landlord Property Insurance Quotes
December 16, 2011 · Print This Article
Michael asks…
Homeownes insurance, does agent owe me anything?
My ins. policy lapsed in may (2006), I called the agent to quote me a new policy. He called me back, quoted me approx 250 per year for a landlord policy. He said my downpayment on the policy was approx 50 dollars. I came in to the agency that day, signed the policy, and gave them the check. My mortgage company nor myself never received anything, although my check was cashed. I called several times and was told everything was fine and they would send a dec page tto my mortgage company. My mortgage company placed forced insurance on my account. Which increased my payment. I sold the property July 31 2006 and I paid the mortgage company xtr$357 for homeowners ins from May 28 - July 31 PLUS I paid the insurance agent $50 for a total of $407. i WAS QUOTED just over $20 PER month for the policy from my agent so I should have paid about $60 for those 3 months. My mortgage company wont give my money back because my agent fails to prove a policy was issued and my agent refuses to refund me
The $50 would have covered me about 2.5 months , so it should have coverd 5-28 to 7-31. Its not my fault they didnt issue the policy properly. I think they owe me the $357 paid to mortgage company due to their error, because every dime of that money was unnecessary and essentially duplicate coverage at a rate more than 5 times higher. Obviously, they havent done anything at all to correct the situation and Ive called 3 more times since 7-31.
By the way, I have my p& c license, and this is the company I used to work for. My boyfriend OWNS the agency.I trusted them not to screw me. When I went in, I signed a new app, but didnt get anything cuz I was in a hurry. And my prior policy I had a year, it lapsed because I didnt renew it.
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 70 acre Gold Mining Claim Fiddler Gulch Trib of Josephine Creek Oregon US $3,500.00 |
 PHOENIX AZ TURN KEY CASH FLOW SINGLE FAMILY RENTAL INVESTMENT PROPERTIES US $1.00 |
 Real Estate Investors Complete Turn key US $5,000.00 |
 10 ACRE NEVADA RANCH PARADISE VALLEY MINERAL RIGHTS $195 DOWN $100 MONTH 0 INT US $195.00 |
Landlord Specials answers:
The agent may be guilty of 'errors and omissions' in the performance of his/her duties. You may be able to take him/her to small claims court (bring the cancelled check and any proof of the conversations you had).
He/she may be made to pay you the DIFFERENCE between the cost of the quoted policy and the forced policy for the period in question, plus the $50 deposit.
Donna asks…
Insurance ? Because of Hurricane Ike?
My daughter rents a home. The neighbor next to her also rents his. A tree, from the neighbors property, fell over & hit my daughters residence during hurricane Ike. It continues to fall over more & more each day. My daughter is concerned that with the weight of this tree it could possibly cave in the section of the house it is on top of now. Because of this situation she cannot get back into her residence with her 2 small children. The neighbor contacted his landlady to tell her she needed to have this tree removed that fell from HER property, but she said it's not her problem it's our daughter's landlord's problem! Isn't this tree the responsibility of the property owner's? Wouldn't this landladies insurance cover for something like this? My daughter can't get back into her home & has to keep finding friends to stay with because of this! Also when a guy came by to give a price quote he said he wanted $3,000 to remove this pecan tree! Where can he be reported to for trying to price gouge? Thanks for you time & help.
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70 acre Gold Mining Claim Fiddler Gulch Trib of Josephine Creek Oregon US $3,500.00 |
PHOENIX AZ TURN KEY CASH FLOW SINGLE FAMILY RENTAL INVESTMENT PROPERTIES US $1.00 |
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Real Estate Investors Complete Turn key US $5,000.00 |
10 ACRE NEVADA RANCH PARADISE VALLEY MINERAL RIGHTS $195 DOWN $100 MONTH 0 INT US $195.00 |
Landlord Specials answers:
Your daughter needs to contact her landlord. It is his responsibility to remove the tree from his house.
If the tree was healthy at the time of the hurricane and the hurricane caused it to fall -- then the tree owner is NOT responsible for the damage caused by the tree. The tree owner is not responsible for removing the tree from your daughters house.
It all comes down to negligence. If you own a healthy tree and a hurrince causes it to fall - you did nothing wrong. You are not negligent. You did not cause the damage to the house.
If you have a tree that is dead/dying or sick and it falls. Now you are negligent. You had a tree that was a falling hazard and you did not take it down.
If your daughter is the landlord - then it's her responsibility to get the tree off of her house so the tenants can get back in.
If your daughter is the tenant and rents the home from someone else - then it's her landlords responsibility to get the tree off the house. Her landlord should have an insurance policy to cover the structure and your daughter should have a renters policy to cover any of her personal property that was damaged.
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Josh Dunaway has been a certfied Realtor in the suburban Chicagoland area for over 20 years. Aside from starting his own real estate company, he also owns a mortgage company as well.
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