Nondisclosure of insurance claim pending for storm damage

[Jenna Hadley]

What is the name of your state? Minnesota
Who's responsibility is it is disclose to a buyer of a townhome that there is an insurance claim which the amount unknown for storm damage( in other words a pending assessment, amount unknown at time of closing)..... seller or title company, or agent? The title company was aware of the claim.assessment and so was the seller and it was NEVER disclosed at the closing.

[lcannister]

You mean the property has yet to be repaired pending the insurance check arriving?

The damage was repaired to the property and the insurance check has nothing to do with you?

or

The damage was never disclosed but is now fixed?

etc

[moburkes]

And, why didn't your insurance agent tell you about this pending claim, when you applied for homeowner's insurance?

[Jenna Hadley]

The storm was on 9-21-2005, I bought the townhouse on 11-30-2005. There was an insurance claim/pending assessment amount unknown at the time of closing that the title company was aware of (and seller) but was never disclosed to me at the time of closing. The assessment finalized in April of 2006 when the snow melted to assess ALL of the damage, but there was a claim before closing on the house. My home owner's insurance is completley seperate from the sellers (if they even had any additional on top of the association's insurance).

[PghREA]

Originally Posted by Jenna Hadley

The storm was on 9-21-2005, I bought the townhouse on 11-30-2005. There was an insurance claim/pending assessment amount unknown at the time of closing that the title company was aware of (and seller) but was never disclosed to me at the time of closing. The assessment finalized in April of 2006 when the snow melted to assess ALL of the damage, but there was a claim before closing on the house. My home owner's insurance is completley seperate from the sellers (if they even had any additional on top of the association's insurance).

Moburkes is talking about the CLUE report.

[url]http://www.insurance.wa.gov/factsheets/factsheet_detail.asp?FctShtRcdNum=13[/url]

Your insurance agent should have ordered a CLUE report on the property before issuing you an insurance policy on the property.

[Jenna Hadley]

I am sorry, but I do not see where any of that matters at this point. Can you please explain? I took an additional insurance policy out after I purchased the townhome, but my insurance compnay is not going to cover claims for something I did not own at the time of the storm. It was a insurance claim/pending assessment for a "special" assessment for a date prior to me owning the policy or the home.

[moburkes]

I'm not saying that your insurance company will cover the damage. I am simply saying that your insurance agent should have made you aware of the damage when you purchased the insurance policy.

[Jenna Hadley]

I purchsed a townhome. Most people just use the insurance through the association. I took out an additional policy to cover above and beyond what the association covers in case of loss assessments. When I purchsed the townhome there was a insurance claim through the association that was disclosed to the title company regarding the storm. I took my policy out after I purchases the townhome which is seperate form the associations insurance claim on the property. My insurance company came after the fact of this whole situation. The issue is who's responsibility it is to disclose insurance claims/pending assessments to the buyer at closing, the association informed the title company and the seller knew, but it was never discussed. I already knew of the previous claim before I even took got an additional policy out, my insurance in a seperate matter for future (when I own the house) assessments or claims.

[moburkes]

I understand what the insurance is for. I disgree with MOST people use the association's insurance because that would mean that MOST people don't understand that the association's insurance policy doesn't cover MOST people's claims.

[Jenna Hadley]

Well, I guess in this townhouse development it was MOST people because they were assessed and people had to come up with a huge amount of money because they did not have additional insurance because they thought they were covered under the association. I, however, knew this and took out an additional policy. This is not the issue, however, and is a waste of my time. I am now working with a lawyer that understands the issue. I was just looking for some additional advice, not to discuss insurance and issues that do not pertain to my situation. I really do not have time to talk about insurance, I also know what it covers and does not cover, this is a NON-DISCLOSURE issue from the seller, title company, and agents. My insurance company did not exsit yet, and has nothing to do with the closing of the townhome**************...... Thanks anyways!