All Forum Posts by: Donald Paul

Own a side by side duplex each with a private entrance. Had an extensive fire on Side A in mid January. Policy has loss of rent. The day after the fire we met with an independent claims adjuster assigned by our insurance company. Explained the tenants in Side B just moved out January 1 and we had the unit up for rent. He told me to send an email with rents. which I did.  Led us to believe we would receive reimbursement for both units.

On February 18, we received a check for $7500 for loss of rents. No explanation of what the $7500 covered but was told we would keep track and settle up at the end.

March 11, we received letter with our settlement today. Only providing us with 6 months of rent for Side A - fire side. When asked about Side B the adjuster replied “only pays rent for units that are occupied.”

Now Side B cannot be rented until repairs are done. . Door and frame were busted down by fireman. Attic insulation runs across both units and needs to be pulled out and replaced. Furnace and ducts need to be cleaned, the unit needs to be repainted due to light smoke damage (we had just repainted). This settlement includes $30,000 in repairs for Side B - for non fire unit.

We can’t rent Side B, so I am out 2 months rent as of today, and at least another 2 months of lost rent until the unit may possibly be done. Then I will have to find a tenant that would be willing to live with the construction next door (dumpster in driveway, trucks, etc)

Here is how the policy reads, Anyone have any thoughts or suggestions on how we should proceed?" Monthly rent is $2000 for this unit.

Thanks - totally understand the tax consequences but not planning to take a vacation with it. We would use the money toward the asbestos abatement costs that are not covered by my insurance.  

Tenants had just moved out of the non fire side before the fire.  We had just finished painting the entire unit and were getting ready to place on the market for rent.

The quote we received from the Restoration and Renovation company covered both units.  Basically the non fire unit needs to be repainted again, carpets replaced and the front door and frame to be replaced due to firemen having to break the door down.  

Basically, there is a lot of fluff in the quote for the non fire unit for additional sealing, cleaning, etc which is not needed.

We would basically like to do the cleaning and painting ourselves and have a local company replace the carpets and repair the front door.

How will the insurance company reimburse us for this if we do the work ourselves?  Will we be paid for our labor?

Thank you-

We recently had a fire at our rental unit.  The  tenants are ok and had renter's insurance.

During the renovation quotes, asbestos was found and tested.  Abatement is needed.  We have Dryden Insurance with a VIP Plus  Dwelling Package, Coverage/Form DFL-153P added to the policy.  We are told this policy does not covered asbestos abatement.

Please note that we do have Ordinance or Law on this policy that will cover up to 2.5% of the Coverage a-Residence.  But this does not cover the total cost of the abatement.

Here is what is shown in our policy?  Would this cover the abatement.  Thank you for any assistance.