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Home Insurance in San Diego : Real Estate Advice

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Activity 9
Thu Jul 6, 2017
Alvinely2 asked:
Thu Apr 20, 2017
Jgrobarek asked:
I was interested in purchasing this property......no pics.....not for sale....why?
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Sat Feb 18, 2017
answered:
Hello Wayne_lane, it will vary depending on what scale and upgrades you are intending. Did you have some damage that is covered by insurance and if so they will do the calculations.


If you want to remodel your home you may consider the 203k loan program which you would have a cost coordinator to assist you.

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Tue Jul 30, 2013
David Rudd / Kindred RE answered:
Great answers below - really like Mary Lawler's, but to confirm/add:

The Insurance company should provide you with some answers:

"Why" they will not provide coverage
"When" they discovered this reason (prior to close of escrow or after)

It may feel very alarming to you, but I have seen similar situations where the next insurance company was more than happy to provide insurance on the home.

After finding out the above questions, contact additional insurance companies, be up front (most insurance companies all share claims histories on properties) .

Best of Luck!
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Mon Apr 22, 2013
jeremy answered:
Here's another way to learn about Title Insurance... www.fastforwardstories.com/title-insurance
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Fri May 25, 2012
Donald Stevens answered:
The biggest challenge with a luxury home is trying to determine a value to rebuild the home. Most luxury homes have a lot of customizations and usually will have some unique architecture. A thorough analysis is crucial to insuring the home at the right amount of coverage so the homeowner is able to be made whole again in the event of a loss.

Another challenge home owners face is that SOME companies replacement policies will not rebuild with upgraded features. They will only repair/rebuild the home with standard or contractors grade materials. Read your policy carefully.

The last challenge is the amount of insurance. Again, SOME companies will not write insurance on a home over a certain value, lets say $750,000. If the home will cost $1,500,000 to rebuild, some companies will not want to write the insurance on that home. The challenge is that you have less options when looking for rates to compare.

The good news is that companies that specialize in luxury homes, like Lexington or Fireman's Fund, have policies that are rich with coverages and priced to attract the customer they want to insure.
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