unsure insured
Junior Member
What is the name of your state?mo
I have had a home damaged by fire. The fire was put out fairly quickly but suffers major heat and smoke damage. According to the insurance company the home suffers roughly 51,000$ worth of damage. I am insured for $70,000. My problem is the insurance company wants me to fix my existing home and I do not want to. It is an 11 year old doublewide and when the fire investigator came they were unable to determine the exact cause of the fire. I have had more than one person/contractor look at the home and tell me not to rebuild. My mortgage holder says the same thing. they do not want me to rebuild the existing home because it has virtually no resale value. Do I, as the homeowner have any rights? Do I have to accept the settlement the insurance company is offering me?
I have had a home damaged by fire. The fire was put out fairly quickly but suffers major heat and smoke damage. According to the insurance company the home suffers roughly 51,000$ worth of damage. I am insured for $70,000. My problem is the insurance company wants me to fix my existing home and I do not want to. It is an 11 year old doublewide and when the fire investigator came they were unable to determine the exact cause of the fire. I have had more than one person/contractor look at the home and tell me not to rebuild. My mortgage holder says the same thing. they do not want me to rebuild the existing home because it has virtually no resale value. Do I, as the homeowner have any rights? Do I have to accept the settlement the insurance company is offering me?