I have lost everything to a home fire .

[EOTH2011]

Example, My insurance on my home was in the amount of lets say 60,000.00 .They have always sent the Policy increasing on their whim and not my request. We have always paid and filed it way for the raininy day.

It has been declared a total loss by Insurance Co. And was deemed Not Suspicious .
Insurance Co is stating they are sending a check for approx 30% of that amount Insured. I wondered where the RSA comes into place.

They keep saying we were Overinsured and cant figure out how they never noticed it.

 

[justalayman]

Example, My insurance on my home was in the amount of lets say 60,000.00 .They have always sent the Policy increasing on their whim and not my request. We have always paid and filed it way for the raininy day.

It has been declared a total loss by Insurance Co. And was deemed Not Suspicious .
Insurance Co is stating they are sending a check for approx 30% of that amount Insured. I wondered where the RSA comes into place.

They keep saying we were Overinsured and cant figure out how they never noticed it.

so, was that over insured?

based on the statute:

I. If a building insured for a specified amount, whether under a separate policy or under a policy also covering other buildings, is totally destroyed by fire or lightning without criminal fault on the part of the insured or his assignee, the sum for which such building is insured shall be taken to be the value of the insured’s interest therein unless overinsurance thereon was fraudulently obtained.

Unless they want to claim the over insurance value was due to fraud, they must pay the stated value. Who determined value; you or them?

 

[EOTH2011]

[

They have always determined the value, its increased slowly over the decade, we pay the increase and store the policy.

We never questioned their amount , its a manufactured home and that cost is about right for a replacement today.

But as of yesterday they stated an amount of about 30 percent of that which will not replace it , she also stated that it would close the case, which I dont believe is correct if We dont agree.

 

[justalayman]

quote them the law. If they determined the value, it's hard for them to argue you fraudulently overinsured the home.

 

[EOTH2011]

quote them the law. If they determined the value, it's hard for them to argue you fraudulently overinsured the home.

Funny story, I have kept every policy from them since the inception of this Policy,. and I have been reading them over and over for 6 weeks now, and just noticed today stapled to the policy was the NH RSA , they sent it to me. With the policy.


Otherwise me being the Insurance Rookie , wouldnt even have thought of it.

 

[justalayman]

Funny story, I have kept every policy from them since the inception of this Policy,. and I have been reading them over and over for 6 weeks now, and just noticed today stapled to the policy was the NH RSA , they sent it to me. With the policy.


Otherwise me being the Insurance Rookie , wouldnt even have thought of it.

nothing like them providing the rope for their own hanging. If you are given problems, that's where these folks come in:


http://www.nh.gov/insurance/

 

[EOTH2011]

Thank You for your assitance, I hope this is a positive on our part, Im not lookin for a windfall , I just want to go home.

Do you think this is a legal argument?

 

[EOTH2011]

Thank You for your assitance, I hope this is a positive on our part, Im not lookin for a windfall , I just want to go home.

Do you think this is a legal argument?

I am meeting with a PA tommorrow to review the issue , any further input appreciated , Thank You!

 

[EOTH2011]

What is the definition of a Mandatory Policy Value Endorcement,?

 

[Banned_Princess]

What is the definition of a Mandatory Policy Value Endorcement,?

my google isnt working, but I bet yours is.

 

[EOTH2011]

Well My take is this without looking it up, well I did , but clarification was needed.

The Insurance Company IF they want to provide Insurance in the state in which I reside must abide to Mandatory Endorcements. Its not something they can or cannot choose to "add on:

 

[EOTH2011]

Met with the Public Adjuster today,,, went fairly well I believe he said he was calling the Commisioner, .

Side note , when I returned home I had my renewal policy in the mail for Insurance. Really?

 

[EOTH2011]

Update

So The Public Adjuster has been working with us on our claim , they have completed a Home Inventory, However The Insurance Co will not return his calls , so he has to fax everything over, what happens in that case , that they wont return calls even to the PA?


They did however send out a packet, in this packet they claim to be "Repairing " the home . I dont know what they have left to repair.

I also recieved a visit from My local Building Inspector , and my home has been condemmed.

 

[justalayman]

a home being condemned doesn't really mean anything other than it is not livable as it is. It means nothing as far as it being able to be or not be repaired. Basically, in most areas, if you don't have running water in a home the health department will condemn a home.

 

[EOTH2011]

Another Update

Apparently the Adjuster working on our case has been removed from the case, this information was directed to our PA upon a return phone call from the Insurance Company.


Our Public Adjuster felt things should move along now.