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Updated over 2 years ago on . Most recent reply

User Stats

287
Posts
98
Votes
Alex Shaughnessy
  • Real Estate Investor
  • Spring Valley, CA
98
Votes |
287
Posts

Accidentally double insured properties twice. Can I get a refund?

Alex Shaughnessy
  • Real Estate Investor
  • Spring Valley, CA
Posted

Hey BP,

due to some very poor communication, I got an insurance policies on 5 duplexes. This is because I was told that my current policy had relapsed. If I can prove to the other company that these properties were, in fact, insured the entire year, can I get a refund from them? This would be a big help. It has not been the best year financially for these properties.

Thanks

  • Alex Shaughnessy
  • Most Popular Reply

    Account Closed
    • Investor
    • Scottsdale Austin Tuktoyaktuk
    4,153
    Votes |
    4,205
    Posts
    Account Closed
    • Investor
    • Scottsdale Austin Tuktoyaktuk
    Replied
    Quote from @Alex Shaughnessy:

    Hey BP,

    due to some very poor communication, I got an insurance policies on 5 duplexes. This is because I was told that my current policy had relapsed. If I can prove to the other company that these properties were, in fact, insured the entire year, can I get a refund from them? This would be a big help. It has not been the best year financially for these properties.

    Thanks

     Are you sure both policies are active? Call the lender's (mortgage) insurance department and ask who they have as the insured. It would be unusal for a lender to allow to companies to insure the same property at the same time. It creates too much confusion. 

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