Karen Margrave
FIRE! Burning in Northern CA - 884+ Homes Burned
My hometown of Redding CA is burning. So far 884 homes completely destroyed, and 170+ damaged. 30,000 people have been evacuated (including some of my family) an 110,000 acres burned. The good news is that the communi...
Valerie Wright
Modular home after a Fire
Ok, I am going to try to keep it short so as to not confuse anyway. I had a house fire on my rental. The insurance company did not consider it a total loss. I hired a private adjuster company that worked with my insur...
Mary M.
How to ensure coverage will actually cover disaster?
The recent California wild/urban fires, the destruction of 15,000 homes, and the horror stories on insureds not getting paid enough to rebuild, have me wondering: How do we ensure that our coverage will do what we th...
Mike Flora
Building small home after tear down
Have a property under contract that most likely will be a rip down and rebuild. From my knowledge I believe I can take it down to one wall standing and rebuild from that starting point and it's still considered a remo...
Kurt Gale
Carport caught fire after city rezoned to commercial
The city rezoned our single family residential house about 1 1/2 years ago to commercial. We just had a small fire that caused approximately $2000 damage. They said the code reads that we can not do any improvements t...
John Underwood
STR replacement cost insurance with increased building costs
I just received my Foremost insurance policy for our STR Lake house.We have replacement cost insurance, but the amount seems low in today's costs to rebuild. Our Lake lot is a good chunk of the value but still I wonde...
Adam Sporinsky
Trouble finding reasonable insurance in Chicago, IL
I don't currently own any property, but I'm pretty close to making offers on a few multi units in the city, 2-4 unit range type buildings. I have called a few major insurance agencies (Farmers, MetLife) and so far th...
Charlotte Edwards
How much insurance do I need?
The purchase price of our house (in Illinois) is $68k and one of the insurance agents I got quotes from (still waiting on the other) gave a quote actual cash value (56,000 being the coverage amount) for $300/year, but...
John Jacobs
From a Private Lender: Property Insurance Question
I am the private lender on a single family home flip. The purchase price is $192,000. The rehab budget is $30,000. The ARV is $280,000. The flipper is experienced. I have lent on approximately 15 flips with other...
May Rodriguez
Options for Protecting asset - forced placement insurance?
Hello, I am a private lender. My mortgagor's insurance only covers dwelling replacement. How do I protect my investment as the loan amount is more than the replacement cost of the property? I have looked at forced-pla...