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I own a duplex style home with my brother-n-law. I can not get him to buy wind and hail insurance. The house has only one title. can I under-insure

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FlyingRon

Senior Member
Also, do you each jointly (or in common) own the entire property, or do you each have seperate ownership for your unit in the duplex??
 

mastermolder

New member
Also, do you each jointly (or in common) own the entire property, or do you each have seperate ownership for your unit in the duplex??
Jointly own the house and property. My question is can I insure the house for just enough to rebuild one story (mine) ?
 

FlyingRon

Senior Member
If you jointly own it, you don't have a "one story" that is yours. You hold an undivided interest with your brother. Nobody is going to write you a policy like that.
 

adjusterjack

Senior Member
Jointly own the house and property. My question is can I insure the house for just enough to rebuild one story (mine) ?
No.

You would have a coinsurance issue for being underinsured. Simply put, if you insure a 100,000 house for 50,000, the coinsurance ratio is 50% and only 50% of your claim would be paid. It's more complicated than that. You can read it in the Loss Settlement section of your homeowners policy.

It's more of a two-family dwelling than a duplex.

Ideally, you should have one policy on the dwelling with both of you as Named Insureds. Then it's just a matter of both of you contributing to the premium.

If you can't get him to contribute and you feel it's an insurmountable issue you can file a Partition Action in court and force the sale of the property so you can be done with him and get your own place.
 
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