New Roof

[crumb]

What is the name of your state? Utah

I just bought a house in northern Utah and got home owners insurance of course for my loan to go through. I was approved and thought everything was fine. That was two weeks ago when I bought the house. The house does need a new roof and I was planning on doing it later this summer. Anyway, I got a phone call yesterday from the insurance company and they inspected my house and the roof didnt pass so they are going to drop my insurance on Friday if I cant show that I have started roofing my house. Don't they have to give me any more notice than 3 days? I am scrambling to get things going on my roof but 3 days to get it started is crazy. It has been raining here all week too. I basically just dont know what to do. Does anybody have any suggestions? Or is it even a big deal to get dropped by the insurance company(I seem to think that it is not good to be dropped)?

 

[seniorjudge]

What is the name of your state? Utah

I just bought a house in northern Utah and got home owners insurance of course for my loan to go through. I was approved and thought everything was fine. That was two weeks ago when I bought the house. The house does need a new roof and I was planning on doing it later this summer. Anyway, I got a phone call yesterday from the insurance company and they inspected my house and the roof didnt pass so they are going to drop my insurance on Friday if I cant show that I have started roofing my house. Don't they have to give me any more notice than 3 days? I am scrambling to get things going on my roof but 3 days to get it started is crazy. It has been raining here all week too. I basically just dont know what to do. Does anybody have any suggestions? Or is it even a big deal to get dropped by the insurance company(I seem to think that it is not good to be dropped)?

Q: Don't they have to give me any more notice than 3 days?

A: No.


Q: Does anybody have any suggestions?

A: Find another insurance company.

 

[Happy Trails]

Or is it even a big deal to get dropped by the insurance company(I seem to think that it is not good to be dropped)?

If something were to happen to your home while it is uninsured, this could be very serious.

What does the lender think about you having no homeowner's coverage?

 

[crumb]

I am going to talk to the agent again today and decide whether I need a new insurance agency. I am pretty sure the lender requires a home owners insurance policy. Actually, I was told I needed one to get the loan approved.

 

[Happy Trails]

I am going to talk to the agent again today and decide whether I need a new insurance agency. I am pretty sure the lender requires a home owners insurance policy. Actually, I was told I needed one to get the loan approved.

Yes, they are going to need you to have it, since it is a requirement that protects their investment.

Perhaps your agent will have some suggestions.

You also need to contact other insurers and see if they will cover you in your situation. In other words shop around, but be prepared that they will be sending out an inspector that may drop you as fast as the first one did. So get that roof upto snuff.

 

[crumb]

I mentioned that I had some money in escrow to fix the roof and that solved the problem. I have $2200 to fix the roof that will be disbursed to me when it is fixed as part of the contract when I bought the house. I have a month to get it fixed now.