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Updated over 2 years ago on . Most recent reply
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Accidentally double insured properties twice. Can I get a refund?
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
Most Popular Reply
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.