Posts tagged "Homeowners Policy"

what are the things that i need to consider to purchase a condo insurance?

How should I estimate the value of the assets? And how much should be the deductible and items on the policy?

is4176, home insurance covers lots of different things. I’m not familiar with all the details of my homeowners policy, but my home insurance agent is always helpful. Try visting your agent or a homeowners agent in your area. http://www.usinsuranceadvisor.com/Home-Insurance.html They should be able to assist you.

What do you know about home insurance involving a fire?

My friend had a fire in her home, during the final days of the sale. The insurance company is trying to prove fraud on her part, which there is none, and she has not paid out since Sept. 28, 2006. She is going for a polygraph test later next month, in the mean time she has no where to live, they have given her $2500 living allowance and refuse to give her more at this time. Any suggestions on what she can or should do?

If she truly did nothing to cause the fire, then it may be time for her to hire an attorney.

5 months to settle a claim is not really an unreasonable time, especially if there are suspicious circumstances. And if they do prove that she started the fire, that $2500 they gave her under the "additional living expense" portion of her homeowners policy, they are going to want it back. If she started the fire, they legally don’t have to pay her a dime, including living expenses.

Insurance companies have every right to investigate any claim, auto, homeowners, injury claims, anything they suspect might be fraud. Insurance fraud is a multi-billion dollar industry in this country.

Can my homeowners insurance co pay a claim and then try to recoup their money via another lawsuit?

When my son was living with us he was involved in an altercation with a neighbor. That neighbor is now suing us via our homeowners policy for injuries he sustained as my son was defending himself. No arrests were made, but the police were called. If the insurance company decides to pay the claim, now that my son has his own home, will my insurance company try to recoup their money by suing my son?

This is not legal advice, and you should reasonably ask the carrier their intentions. That said, it is highly unlikely that they will pursue your son. A family member living with you generally fits the definition of an insured under the policy. An insured is entitled to coverage for defense (of claims and/or suits) and/or indemnity (payment of viable claims). If the carrier is defending you and your son (without reservation of rights) it would seem that they have accepted coverage. The attorney hired by the carrier to represent the insured (defendant) owes allegiance to that party. I would clarify which attorney represents you, and/or your son (sometimes separate counsel is needed and supplied by a carrier due to conflict of interest and sometimes the parties agree [stipulate] to a waiver of such conflict.)

In short, you can verify intentions and status with the carrier and the defense attorney, but the carrier seeking recovery against your son is unlikely. If they had intended to pursue him (and if he is not an insured for one reason or another) they likely would have either (1) filed a non-party defense or (2) filed a direct action (added him as a defendant through a process called a contribution and/or common law indemnity action).

Since a paid claim would go on your record it is also worthwhile to find out status, merits of allegations, and extent of claimed damages (usually part of the public record in litigation) so you can see what the liklihood of a settlement is. If the claim is frivilous, perhaps a motion for summary judgement and/or offer of judgment should be considered. Good questions for your defense attorney (provided by the carrier). Again, they work for YOU, not the carrier (though not every carrier representative really gets that).

Good luck.