Need $ For Deals?
Get Unlimited Funding
Click Here Now!

--------------------------
Hard Money Lenders
You Need To Be Listed
Click Here Now!


Welcome, Guest. Please login or register.
Did you miss your activation email?
November 13, 2018, 12:32:33 am
Home Help Search Calendar Login Register
Free Monthly Update
Name:
Email:
Need $ For Deals?
Get Unlimited Funding
Click Here Now!

--------------------------
Hard Money Lenders
You Need To Be Listed
Click Here Now!


Welcome, Guest. Please login or register.
Did you miss your activation email?
November 13, 2018, 12:32:33 am
Home Help Search Calendar Login Register
Free Monthly Update
Name:
Email:
Click Here to Register for the Discussion Forums

Author Topic: DANGER LURKS FOR REHABBERS  (Read 1326 times)

Offline rhm76384

  • Member
  • ***
  • Posts: 424
    • No Problem Man
DANGER LURKS FOR REHABBERS
« on: August 11, 2005, 04:36:26 pm »
Hey,
     Latest MSN Money web site article cites State Farm insurance for failing to insure and turning into a national data base a home that DID NOT file a claim but reported water damage. Article states that many insurers are turning to this data base of national insurers to see if any claims or damage of been reported r/t water damage ( roof repairs, basement problems, water leaks) going back 5 years.  Article states that it has derailed some owners plans to sell their home.
     It seems that now there is something else to be sure of before you purchase a rehab home.
Peace,
Richard
Richard Manlove
Success Property Solutions, LLC
1-877-561-FAST/www.noproblemman.com
For cheaper Texas electricity plus income:
http://manlovepartners.igniteinc.biz

Offline TravisTX

  • Member
  • ***
  • Posts: 105
    • Visual Infusion
Re:DANGER LURKS FOR REHABBERS
« Reply #1 on: August 11, 2005, 06:29:18 pm »
Thanks for the heads-up Richard.  Here's the link for others.

http://moneycentral.msn.com/content/Insurance/Insureyourhome/P35345.asp

Offline telarsen

  • Member
  • **
  • Posts: 55
    • NY Property Insurance
Re:DANGER LURKS FOR REHABBERS
« Reply #2 on: August 14, 2005, 06:47:10 pm »
Richard,
That is why you should use an INDEPENDENT insurance broker, who will advise you properly on your claim. State Farm isn't a bad company but they tell you to call all claims to there 1-800 number, which automatically goes on your C.L.U.E. report.

I have a client who HAD all his insurance through State Farm and said he had no claims on a 25 unit building. It turns out, 5 claims showed on the CLUE report. Nothing was ever paid out but the client was never made aware these go on the C.L.U.E. report.

When buying a house, some insurance companies care about past claims and some care about the person buying the house's past claims.

It pays to shop around.
Tom Larsen,
President,
Larsen & Associates Insurance Agency Inc.
(716) 684-3203
tom@larseninsurance.com

 




SMF 2.0.15 | SMF © 2017, Simple Machines