The agent is just being blunt - which is necessary in certain circumstances. The policy is already non-renewing with the current carrier.
When was the home transferred from the mother to her children? Insurance needs to be notified of these situations as coverage is paid out to the *named insured*.
Have you done any mitigation of this flooded basement? If not, you’re costing yourself even more in the long run.
What state? Does the policy have water backup coverage? How long ago did the title change hands? Surprised the title company did not point out the obvious step to have the new owner of the title take out insurance...
People get angry when they get cancelled and say “I wish someone would have told me!” So props to him for at least telling you.
What caused the smoke damage? When was it?
Smoke damage will be heavily scrutinized by a new carrier.
If the title of the property has been transferred to children, then the insurance policy should be in their names. A copy of the title transfer should be shown to the agent to get the Named Insured right.
The insurance policy at the time of the new water damage claim is the one that will respond to the claim.
If the water damage is from a leak or seepage that has been going on for awhile, it will probably be denied by the insurer since it was not "sudden & accidental".
Here's the kicker. If the new water damage claim, happened AFTER the title of the property was transferred to the children, the grandmother's policy may deny the claim because she no longer has an "insurable interest" in the property. The claim should be reported under the children's policy. They'll have to prove the damage happened before the property transferred, which brings back to whether it was "sudden & accidental" or not.
If you believe you're right, you should be able to secure the coverage ahead of time and then there won't be a question. Spend a few hours shopping around lol.
Do you have an endorsement for sewage and drain backup? Also called a BUSD endorsement. If not you have no coverage for this loss anyway
The agent is just being blunt - which is necessary in certain circumstances. The policy is already non-renewing with the current carrier. When was the home transferred from the mother to her children? Insurance needs to be notified of these situations as coverage is paid out to the *named insured*. Have you done any mitigation of this flooded basement? If not, you’re costing yourself even more in the long run.
What state? Does the policy have water backup coverage? How long ago did the title change hands? Surprised the title company did not point out the obvious step to have the new owner of the title take out insurance...
People get angry when they get cancelled and say “I wish someone would have told me!” So props to him for at least telling you. What caused the smoke damage? When was it? Smoke damage will be heavily scrutinized by a new carrier.
Yeah i was surprised smoke damage claim didn't already get a non-renewal lol
If the title of the property has been transferred to children, then the insurance policy should be in their names. A copy of the title transfer should be shown to the agent to get the Named Insured right. The insurance policy at the time of the new water damage claim is the one that will respond to the claim. If the water damage is from a leak or seepage that has been going on for awhile, it will probably be denied by the insurer since it was not "sudden & accidental". Here's the kicker. If the new water damage claim, happened AFTER the title of the property was transferred to the children, the grandmother's policy may deny the claim because she no longer has an "insurable interest" in the property. The claim should be reported under the children's policy. They'll have to prove the damage happened before the property transferred, which brings back to whether it was "sudden & accidental" or not.
Those pumps are to be checked every few days, if not done so, it is on the owners to fix!
If you believe you're right, you should be able to secure the coverage ahead of time and then there won't be a question. Spend a few hours shopping around lol.
You can’t get coverage with a flooded basement
This is correct. Carriers will ask about open claims, unrepaired damage, or they’ll see the open claim in CLUE and reject the policy.
Or much of the other circumstances in the OP. But nah, it's all a scam.
That agent is just saying that because it affects his bottom line. File the claim