Homeowners Insurance

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mis2810

Guest
For all you condo owners - do you get the hydro and the earthquake coverage? I'm using Rosie, of course, and I've gotten 2 quotes. One without the hydro/earthquake with no deductibles, and another with deductibles that covers both hydro and earthquake. The premiums are only about $100 different.

What do you guys normally get?
 
P

PitiquitoRosy

Guest
mis2810 said:
For all you condo owners - do you get the hydro and the earthquake coverage? I'm using Rosie, of course, and I've gotten 2 quotes. One without the hydro/earthquake with no deductibles, and another with deductibles that covers both hydro and earthquake. The premiums are only about $100 different.

What do you guys normally get?
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Melissa, I hope Paty did a good job of explaining the hydro and earthquake coverage.

HYDRO: 1. Damage caused by a normal storm is not covered at all. That's why they call it Hydro Phenomenon. It must be an an unusual storm, meaning stronger than usual as per the national weather service.
2. The deductible is 1% of the total insured sum and the co-pay is 10% the amount of the claim. I tell people this coverage if for 'catastrophic loss', but not much use when the damage is not high.

EARTHQUAKE: Same as above, but the amounts are 2% and 20%

Most clients forego the earthquake. Considerably more opt for hydro, but by far the majority prefer the no-deductible homeowner's policy. The most frequent claim is damage to the interior walls, ceilings or floors caused by plumbing problems, especially in condos.
 
Roberto

Roberto

Guest
A few years ago I had the occasion to need to file a claim after someone broke into my house. Notified the police immediately. I made an inventory, as best I could, and found comparable stuff and prices on the net and printed out some info. I went to the police station, 3 or 4 times to get a police report. After all that I went to file a claim and was told I had to file within a few days (can't recall the exact time frame) so my claim was invalid. Was told that I was informed of that when the policy was issued, but I know I was not. That detail ought to be in big bold letters right up front on the policy. A major irritation although since the thief went in and out a small window he did not get much.

Wondering if this requirement for a quick notice applies to all companies and all insured hazards. You all might want to inquire and keep it in mind.

No it was not Rosy.
 
brokenwave

brokenwave

Guest
I had a break in back in October, 1st time they went through a small 12x18" bathroom window,
a local friend saw the broken window and called the Cholla Police.
Most everything they were going to take was packed up by the front door.

5 days later after I had him replace the window and put a steel bar across it they broke in again,
it took breaking 3 large dual-pane windows to finally get in, this time they took all they planned to take the first time.
The next day neighbors walking their dogs saw all the broken glass and called the Police.
I came down the next week and did a 3rd police report and the interview with the Minister.
5 trips and 12 hours of waiting and talking with other people I received my official report to be filed
with my insurance company Pro Alliance.
After being jerked around by the adjusters and going back and forth on the values and proof I had the items stolen
and damaged, we finally agreed on a settlement.
It took another 2+ months to finally get a payout, which required me to come to RP (a good excuse)
and take a credit letter to the bank to get the payout.

Paty at Rosie's Pro Alliance was great in having this finally happen.

Lessons learned from this.
Take pictures of everything in you homes, have receipts for everything you bring or buy for your places,
that will help you recover more than the 40-50% the insurance company will try to get you to settle for. And lot's of patience in dealing with the insurance company.
(most of my stuff taken was 1-3 years old)
Also install a alarm to at least scare off the amateurs.
 
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Southbeacher

Guest
Regarding prevention, I've heard of a couple beach-front sweeps where they went from house to house grabbing flat-screen TVs They wiped out all except one, whose screen was bolted on one of those swing-arms to the wall.
 
jerry

jerry

Guest
Southbeacher said:
Regarding prevention, I've heard of a couple beach-front sweeps where they went from house to house grabbing flat-screen TVs They wiped out all except one, whose screen was bolted on one of those swing-arms to the wall.
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Another reason to not have a tv at your beach house.....read a book......
 
Jellyfish

Jellyfish

Guest
We use Pro Alliance for our drivers licence coverage but not homeowners. Last year when it was time to renew I went there and was told they would cover no Hydro Phenomenon. So back to Portugals. With all the recent big storms felt that was important. May check with them again.
 
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mis2810

Guest
Ok, now I'm not sure what to do. I've been told so many things by so many people. Rosie says take the Earthquake, but not the Hydro because it's too hard to collect on. Then I heard that the HOA's insurance covers earthquake damage so I shouldn't have to buy it. This is making me crazy.
 
S

Southbeacher

Guest
JimMcG said:
Under the ostensibly watchful eye of 24/7 security?
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Of course, under the ostensibly watchful eye of 24/7 security. Las Conchas and other beaches over time have learned about how helpful . . . or sometimes not . . . security guards can be. Ownership -- especially in more remote areas -- must come with awareness, precautions and (depending on various factors, lack of) certain expectations. I, for one, after 18 years have no complaints.
 
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