Homeonwers insurance problem

[11andy11]

I purchased insurance for a beach home in Texas. The broker bought only one policy, the flood. She kept the other money for the wind and hail and hazard insurance. She recently sold her company. I did not find out about this until after she sold her company. Is the new company liable for the problem or is she? I am out about $3000 by the way.

 

[alnorth]

I purchased insurance for a beach home in Texas. The broker bought only one policy, the flood. She kept the other money for the wind and hail and hazard insurance. She recently sold her company. I did not find out about this until after she sold her company. Is the new company liable for the problem or is she? I am out about $3000 by the way.

I assume you now have insurance on the home.

Demand a refund from the broker and the company. If they refuse or dont respond within a week or two, then sue them both in small claims court. Generally when you buy a business you also buy the liabilities, but its possible that was negotiated away somehow and you have no idea if thats the case here or not, so you want to sue everyone to make sure.

 

[moburkes]

You'll need an attorney, but, with a receipt, or a binder, or some type of proof, you'll sue the previous agent and her E&O insurance is what would cover this.