by Guest » Tue Mar 05, 2013 08:28 am
I got the house as inheritance after dad passed away. I don't use it as a residence, but make regular visits and was planning to give it on rent. Recently a pipe burst and caused damage to neighbor's property. Now the insurer is denying to pay for the water damages citing negligence and that the house was unoccupied etc. Do I need to pay them myself or their insurance will pay? Can their insurer sue me after that?
Posted: Tue Mar 05, 2013 11:43 am Post Subject:
It really sorry to listen that your dad passed away. Problem is when your dad passed away you must need to renew the insurances. Because your Dad is person who is owner of this policy.
But it is totally depend upon the policy terms and conditions when your Dad avail it. You must need to find the papers and read that terms. It will tell you clearly what term has been decided when your Dad started it
I hope you understand it
Posted: Tue Mar 05, 2013 06:14 pm Post Subject:
You need to ask the insurance company for the specific terms of the policy under which they are denying coverage. They are required to tell you. Generally, however, maintenance and vacancy issues usually apply to damage to the insured property. Liability claims for damage to the property of others is usually not affected.
Posted: Tue Mar 05, 2013 07:29 pm Post Subject:
Most policies have a vacancy exclusion (rates are determined by a normal, rented building. Vacant buildings are high risk as pipes freeze, heat goes out etc. Get a vacant property policy but hang onto your hat when you see cost.
Posted: Tue Mar 05, 2013 09:39 pm Post Subject:
There may not be a need for a separate policy. Most homeowner's policies can be endorsed with a vacancy waiver. There will be an added cost, but it may not be severe.
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