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Started By
Message
re: Home insurance question
Posted on 5/1/18 at 10:11 am to BillBrosky
Posted on 5/1/18 at 10:11 am to BillBrosky
quote:
I thought flood insurance was mandatory in Tejas.
Negative.
0
Posted on 5/1/18 at 10:16 am to public_enemy
quote:
hat coverages are absolutely necessary for me?
Do you have guns, jewelry, collectibles, business items, cash, silverware, gold, art, watercraft & accessories, golf cart, atv, etc...?
if so to any of those, you are going to want to look up the specific limits and types of covered losses.
Posted on 5/1/18 at 10:21 am to wickowick
quote:
Many insurance companies are no longer writing replacement cost on roofs
That is absolutely not true.
quote:
make sure the roof is pretty new
Do listen to this. And by new- try to get a home with a 10 year old roof or newer. Your inspector should look at roof and let you know the condition its in.
What part of South LA are you in?
Posted on 5/1/18 at 10:22 am to BillBrosky
quote:
Your roof could blow off and the house could endure water damage. I've seen insurance companies try to avoid the water damage by saying it was flood damage.
Did the house also sustain flood damage from rising water in that hurricane? If you have a hurricane situation where roof gets damaged and starts leaking, plus the house also sustained damage from rising floodwater, then the homeowners/wind company is going to only pay for the roof and the damage caused by the water that got into the house via the roof leak. The homeowner company would deny the portion of damage caused by the rising floodwater (flood policy pays for this).
Posted on 5/1/18 at 10:24 am to BillBrosky
quote:
I thought flood insurance was mandatory in Tejas.
Depends on what flood zone your in according to FEMA flood maps. Same rules apply in all states. If you're in a zone that starts with an A or V, flood insurance is required. If you're in a B, C or X zone, flood typically isn't required....but its pretty cheap in those zones.
Posted on 5/1/18 at 10:26 am to Tiger Prawn
quote:
X zone
Coverage for X zone in LA:
Dwelling=250K
Contents=100K
Deductibles=1250/1250
Premium=450ish annual for a primary residence
Posted on 5/1/18 at 10:43 am to anewguy
Assumption parish.
I did expect some immature responses, but thanks to those who are giving some good information.
Just trying to figure out what I need. Thanks guys
I did expect some immature responses, but thanks to those who are giving some good information.
Just trying to figure out what I need. Thanks guys
Posted on 5/1/18 at 10:44 am to Tiger Prawn
quote:
Depends on what flood zone your in according to FEMA flood maps. Same rules apply in all states. If you're in a zone that starts with an A or V, flood insurance is required. If you're in a B, C or X zone, flood typically isn't required....but its pretty cheap in those zones.
I got flood insurance after all the hearings and court cases after Ivan/Katrina, not wanting to get screwed over if my roof blew off and got water damage. Like I said, many a homeowner got screwed.
I still have it but could probably cancel it now that they have straightened that mess out. I live on a high point over looking the Mobile bay area on the eastern shore and if my place were to flood there are a lot worse problem, like people dead and shite.
Posted on 5/1/18 at 1:01 pm to anewguy
quote:
That is absolutely not true.
It is true, many but not all. Most of the big carriers have moved to/ moving to an ACV roof. Some of them you can still buy still replacement cost on the roof but underwriting is going to look at that roof a lot harder...
Posted on 5/1/18 at 5:15 pm to Festus
quote:
In general, the big name companies have much better claims service. I am learning this the hard way my first time going with a cheaper, no name company. Their claims departments and handling suck arse.
Horrendous advice. The big boys have the money and power to screw insureds left and right, and do it. The smaller carriers are typically better.
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