Best homeowners insurance?

20 years ago

I've got State Farm right now, and have had them for everything since the 60s. But the new little antique house I bought needs a new roof sometime in the future. I've had disparate opinions on whether it needs to be replaced NOW or not. The inspector found NO signs of leakage, and neither has anyone else who has looked at it since. But State Farm says it needs replaced now or they will not renew my policy on it in June.

The house is on the National Register, and so it needs to be an historic roof. I will need time and multiple estimates to accomplish that the way it should be accomplished.

So in the mean time I'm looking for alternative insurance company. Anybody got any recommendations?

Thanks, Linda

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Comments (6)

lindac
20 years ago
I have Cincinnati....
Why don't you contact someone at the National Registry and see what they say......
Linda C
Retroactive
20 years ago
Linda, I sympathize. I think any of us living in coastal areas are having a particularly hard time these days. My insurance company would not even touch a home I just bought as in investment property because I'm a mile from the Florida coast and 200 feet from the bay.

I suggest you call your lender and have them give you a few names. I can't close without fire, flood, and windstorm insurance, so he was able to provide me with a couple of companies he knows want the business. All the new company wanted was a short report from my home inspector about the condition of four things: roof, plumbing, electric, and a/c. It was easy.

My lifelong homeowner's insurance company was being really ridiculous. The roof on the new house is less than 10 years old and has no leaks. It's been prepared with the ideal substance for a roof of this kind. All the inspector suggested was that, for greater longevity, I coat the roof with a white sealer, and just on that one point, they rejected me.

Call your lender and see if they can help. Good luck with what sounds like a wonderful home. I hope you can point us to some pictures, I'd love to see it.
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If I'm reading your post correctly, the premiums were collected by the bank, but never got to the insurance company. Why would you NOT be down at the bank, in the president's office complaining that they collected money from you, that was supposed to be paying your insurance and now you find out they never paid it? Why would you consider letting them off the hook? Why would you EVER consider letting them do that to you in the future? There's also the possibility that they DID send the payment, and the insurance company didn't properly record it (wouldn't be the first time, there, either. You absolutely must go to the bank and get to the bottom of this, find out where the money went, why it wasn't paid or credited, etc. You have a claim against the bank, IMO. You may also want to discuss this with your lawyer, so that you do the right things in the right order. You have a major complaint with your bank--DO let them know that you're extremely unhappy about this. After that, make a complaint with your state agency that regulates banking. And for heaven's sake, do NOT let the bank pay your insurance, taxes or any other bills from here on out. We never have, never would. We like to make sure those things are paid, on time, in full. We don't trust others to take care of our bills for us--as you unfortunately found out, they aren't always as responsible about doing it as you would be. But bottom line here is that the bank is wrong. You have to address that. DO NOT let them off the hook. For your own sake.
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Hi, Cynthia. Coverage amounts seem fine. I'd ask about an endorsement that I put on all my Travelers homeowners policies. In Virginia it's Endorsement 58065 VA - Value Added Package Plus. It may already be on there, but if it's not, it's a valuable addition and is very inexpensive. It includes the Ordinance or Law Coverage as well as other valuable coverages. I prefer the PLUS level of the endorsement, but at a minimum I'd get Endorsement - 58064 VA Value Added Package. The additional cost of the PLUS over the basic VAP endorsement should only be about $30. In addition, the ACE (Additional Coverage Endorsement) is part of every policy I sell. Last change I'd make is the Personal Liability. Even though you have $300,000 limit, that's the minimum I recommend. Raising that to $500,000 is an inexpensive way to better protect yourself and your assets. You may already have all this coverage in your policy. Your agent in Virginia is the one best equipped to answer your questions. I'm not licensed in Virginia so this is not an attempt to offer counsel on your particular policy. I'm just letting you know what I do for my clients in NY. (Legal disclaimer since I cannot sell or advise in the state of Virginia) Best of luck, Cynthia! Kevin
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And just in case someone want to know how this is done for example... here: Damage in the family room .. wet half wall, connecting soffit , ceiling, exterior wall, and the water leaked into a fireplace and on other room side another part of ceiling, tornado damaged door, baseboards: The adjuster pays: R13 in the attic instead of R38, pays for a bogus 2" paint grade baseboards $1.40lf, exterior wall drywall, install carpet - lowest grade, OSB 4'x4'; re-nail interior door (as exterior door fix) What the adjuster did not pay: R38 insulation, 20'x14' ceilings, 3"-1/4 baseboards clear maple stain grade - $3.50/lf, stain the baseboards, new trim around the window and staining, the insulation behind the wet exterior drywall, paint the drywall [what bag pays for unpainted walls], remove/install/replace drapes next to the windows, half wall + soffit drywall and paint, repairs to the flooded fireplace, the carper removal [not just install], 20'x14' subfloors, and remove and replace exterior door + paint the exterior door + trim. Is that 20 cents on the dollar or 10 cents on the dollar? Best insurance - LibertyMutual.
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alisande
20 years ago
You have my sympathies, too, Linda. I'm in a similar situationÂand in the northeast, very much inland. I received a letter from my insurance company a couple of days ago saying that they'll cancel my policy unless I repaint the house siding, replace window casings, erect a fence around the swimming pool, and remove the diving board.

This is a blow. I was already planning to replace the siding, but why should they care if my house needs paint or not? I imagine the window casings, whatever they are, will be part of the new siding project. I'll ask the contractor. But the pool is a major problem. I had arranged to have a number of home repairs done, and the list didn't include a fence. I live alone out in the country with no neighbors. In 16 years the only accident that happened with the pool is the drowning of one of my cats (so now they're all indoors). The pool, by the way, is covered securely with a bolted-down safety cover, and hasn't been opened since my daughter died two years ago, simply because I haven't had the energy to open and maintain it. Now I'm thinking if I put up a fence using money presently assigned to another project, I may find a few years down the road that the pool needs a new liner, or filter, or whatever, and I won't be able to afford it. So I'm investigating the possibility of having the pool filled in. My other (grown) children haven't wanted me to do that, and I agree it has been and can be a beautiful pool, but I feel as though I'm between that proverbial rock and hard place.

Incidentally, Linda, I'm told Allstate is a little more liberal about things. (But they, too, insist on a pool fence.)

Susan
mjsee
20 years ago
Well, of course they insist on a pool fence--as should everyone. Pools are an incredible LIABILITY. I live in NC and we've had a couple of deaths in the last two months--little kids who drowned in UNFENCED POOLS. What insurance company wants to cope with that? I grew up in a house with a pool--it was fenced on three sides, with the house forming hte fourth side. We never had a mishap, because the doors of the house stayed LOCKED unless a reponsible person (read-my mom) was out by the pool. Granted--this was neccessary because we had little kids in the house,(my sisters are 10 and 12 years younger than I) but it's a good idea even if there aren't children in the house. The gates to the pool stayed latched at all times, as well.

SO---I don't blame the insurance companies, on hte pool issue, anyway. I will admit that they ARE getting ridiculous about roofs.

melanie
allenhan_netscape_net
18 years ago
Try also checking this www.insurance-quote-free.com maybe it might help.
kitasei
10 years ago
Alisande, re the unused pool - I would find out how much you are paying in property taxes on the pool that you're not even using. If it's as high as it is here in metro NYC, you might want to decommission it. Maybe there's a way to do it in such a way that you don't have to rebuild it entirely if you later decide you want it again. I.e., re-purpose the container as a bog garden or a rose garden? Just a thought.

Best homeowners insurance?

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lindac

Retroactive

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