Direct Call : 954-551-0236 / E-Mail : jenny_shin62@hotmail.com
매일 뉴스 (Daily News)

Finding home insurance when all else fails – Sun Sentinel * coral springs real estate jennyforhome *

* coral springs real estate jennyforhome *

9:08 p.m. EDT, July 14, 2012  

Board-certified real estate lawyer Gary M. Singer writes about the housing market at SunSentinel.com/housekeys each Friday. To ask him a question, go to SunSentinel.com/askpro

Q: We bought a home a couple of months ago that is about 35 years old. We had property insurance for the closing, but later an inspector came out to the house and the insurance company dropped us due to some deficiencies in the condition of the home. Our agent couldn’t find us other coverage, even with Citizens Property Insurance Corp., the state-run insurer of last resort. We would have to make major renovations we can’t afford. There is no equity in the home to borrow against. What can we do? — Doug

A: Some homes don’t qualify for standard insurance coverage. Basically, insurance companies are in the business of assessing risk, and occasionally they find a home that’s too much of a risk to be included in their pool of insurance.

When this happens, your option is to go to a “surplus lines” insurance company. A surplus lines insurer is not required to file forms or rates with the state Office of Insurance Regulation. This freedom from regulation allows the insurer to fit the insurance policy to your specific situation. The upside of surplus lines insurance is just that you will be able to get some insurance for your property. Downsides include: your premium or claim is not guaranteed should your insurer go out of business; the insurance typically is more expensive and has more exclusions; and if you cancel the policy early, you may not get back all of the premium for the unused time.

* coral springs real estate jennyforhome *

About jennyformiamihome

성심껏 도와드리겠습니다. 연락주시면 바로 상세히 답변드립니다. Jenny Shin / 신정미 부동산 (Broker's Real Estate) 남부 플로리다 마이애미 지역 한인 부동산 주택매매 렌트 싱글하우스 타운하우스 콘도 브라워드 카운티 마이애미 데이드 카운티 포트로더데일 웨스턴 코랄스프링 도랄 Rent or Buy single house, town house and Condo Miami Dade County / Broward County, fort lauderdale, coral springs, copper city, weston, doral 1398 SW 160TH AVE. SUITE 105 Weston, FL. 33326 Direct : 954-551-0236 Office : 954-384-1616 Fax : 954-697-0447 E-mail : jenny_shin62@hotmail.com

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

JENNY SHIN PROFILE


Jenny Shin / 신정미 부동산
(Broker's Real Estate)
1398 SW 160TH AVE. SUITE 105
Weston FL 33326
Direct : 954-551-0236
Office : 954-384-1616
Fax : 954-697-0447
E-mail : jenny_shin62@hotmail.com

FLORIDA REALTOR NEWS

Miami metropolitan area INFORMATION

For more detailed information on Miami Metropolitan Area (cities / demographics, etc), click map

%d bloggers like this: