 Dad is freaking out (by pissed daughter [CA]) Nov 13, 2018 4:01 PM
 Dad is freaking out (by plenty [MO]) Nov 13, 2018 4:03 PM
Dad is freaking out (by Pissed daughter [CA]) Nov 13, 2018 4:06 PM
Dad is freaking out (by pissed daughter [CA]) Nov 13, 2018 4:07 PM
Dad is freaking out (by AllyM [NJ]) Nov 13, 2018 4:09 PM
Dad is freaking out (by pissed daughter [CA]) Nov 13, 2018 4:11 PM
Dad is freaking out (by NE [PA]) Nov 13, 2018 4:12 PM
Dad is freaking out (by pissed daughter [CA]) Nov 13, 2018 4:13 PM
Dad is freaking out (by CX [WA]) Nov 13, 2018 4:20 PM
Dad is freaking out (by RB [MI]) Nov 13, 2018 4:36 PM
Dad is freaking out (by pissed daughter [CA]) Nov 13, 2018 4:54 PM
Dad is freaking out (by NE [PA]) Nov 13, 2018 5:11 PM
Dad is freaking out (by pissed daughter [CA]) Nov 13, 2018 5:16 PM
Dad is freaking out (by Robert J [CA]) Nov 13, 2018 6:50 PM
Dad is freaking out (by Salernitana [CA]) Nov 13, 2018 7:14 PM
Dad is freaking out (by Vee [OH]) Nov 13, 2018 8:04 PM
Dad is freaking out (by pissed daughter [CA]) Nov 13, 2018 8:23 PM
Dad is freaking out (by BRAD 20,000 [IN]) Nov 13, 2018 11:09 PM
Dad is freaking out (by Pissed daughter [CA]) Nov 13, 2018 11:30 PM
Dad is freaking out (by LindaJ [NY]) Nov 14, 2018 5:47 AM
Dad is freaking out (by BRAD 20,000 [IN]) Nov 14, 2018 8:52 AM
Dad is freaking out (by Nicole [PA]) Nov 14, 2018 9:36 AM
Dad is freaking out (by JB [OH]) Nov 14, 2018 11:23 AM
Dad is freaking out (by TLynn [IA]) Nov 15, 2018 8:15 AM
Dad is freaking out (by pissed daughter [CA]) Posted on: Nov 13, 2018 4:01 PM
Message:
I'm trying to figure out what type of homeowner's/liability insurance my elderly father has so I called his insurance carrier to get a copy of his policy and what is covered. He immediately freaked out and said that they will now raise his rates. Is this true? I'm not filing a claim. I just want to know what he's covered for. He does have a tenant who might be itching to sue him for mold, but I think I'm doing everything that is legally required to handle the mold issue. Should i be worried that they would raise his rates or deny any future claims just from one query? --67.180.xx.xxx |
Dad is freaking out (by plenty [MO]) Posted on: Nov 13, 2018 4:03 PM
Message:
Did you say all that? Or just ask for policy papers to update filed? --99.203.xx.xx |
Dad is freaking out (by Pissed daughter [CA]) Posted on: Nov 13, 2018 4:06 PM
Message:
Nope. I didn't mention anything about a possible mold problem All I asked for was what type of insurance has and what is covered. Also, I requested a pdf of his policy. --67.180.xx.xxx |
Dad is freaking out (by pissed daughter [CA]) Posted on: Nov 13, 2018 4:07 PM
Message:
Also, I mentioned that I am helping him with his rentals. --67.180.xx.xxx |
Dad is freaking out (by AllyM [NJ]) Posted on: Nov 13, 2018 4:09 PM
Message:
I think you have to ask the questions. If you just asked for the policy and didn't mention the situation there is no reason for him to be concerned. In fact I doubt that some clerk answering the phone is going to have her ears perk up and say oh we better raise his rent. You have to know if you are concerned about suit. Do you have Power of Attorney? My mother gave me that without problem when she was in her mid eighties. --73.178.xxx.xx |
Dad is freaking out (by pissed daughter [CA]) Posted on: Nov 13, 2018 4:11 PM
Message:
Well, I called the carrier's 1-800 number and they recorded the conversation. I'm not sure if that makes a difference. I didn't think asking for the policy would trigger any event. --67.180.xx.xxx |
Dad is freaking out (by NE [PA]) Posted on: Nov 13, 2018 4:12 PM
Message:
He's 85. List them for sale and live in peace. --50.107.xxx.xxx |
Dad is freaking out (by pissed daughter [CA]) Posted on: Nov 13, 2018 4:13 PM
Message:
I wish...... --67.180.xx.xxx |
Dad is freaking out (by CX [WA]) Posted on: Nov 13, 2018 4:20 PM
Message:
REALIZE that the ins. cos. are raising rates across the board anyway, for seemingly no reason, because they need to make up for the payouts they have recently needed to make, and in the near future for all the natural disasters. Hurricanes, flooding, wildfires, etc.
Your rates will still go up, but probably not from asking for a PDF of the policy --174.21.xxx.xxx |
Dad is freaking out (by RB [MI]) Posted on: Nov 13, 2018 4:36 PM
Message:
Agree with NE. --184.53.x.xxx |
Dad is freaking out (by pissed daughter [CA]) Posted on: Nov 13, 2018 4:54 PM
Message:
Honestly, it's taking a toll on his blood pressure.... and mine. I don't know how you guys do it. --67.180.xx.xxx |
Dad is freaking out (by NE [PA]) Posted on: Nov 13, 2018 5:11 PM
Message:
Narcotics is how we do it. Just kidding. Sheer determination and occasional support. I think your Dad's past that point. I think it's time he gets out. Not being mean, just from reading your posts the past few weeks. --50.107.xxx.xxx |
Dad is freaking out (by pissed daughter [CA]) Posted on: Nov 13, 2018 5:16 PM
Message:
Yeah. We know. We told him if he gets out, he needs to hand over all the management of his properties to the kids and not just call on us for his emergencies. --67.180.xx.xxx |
Dad is freaking out (by Robert J [CA]) Posted on: Nov 13, 2018 6:50 PM
Message:
Little known secret about insurance, if you call an agent or the insurance carrier and "ask questions", they will enter information in a common data base for the benefit of all insurance companies.
I told a friend this and he and his wife thought I was crazy. I've only been in real estate for 40 years. My friend asked questions about if he allows his wife's sister to use their cars. So the next week he got a cancellation notice for his auto and house policies. His sister in law is a lousy driver with DUI's and tickets. The risk was too great for the insurance company to continue to insure my friends. A question can sink the ship.
I you have questions, you never call your agent. You call another broker for the same company and use someone's else's phone. No name or call back number give for simple questions. --47.156.xx.xx |
Dad is freaking out (by Salernitana [CA]) Posted on: Nov 13, 2018 7:14 PM
Message:
Insane. I know people exactly like your father and understand how you feel.
I doubt that the insurance company would raise the rates because they don't know what's going on with the property. They can quietly send an assessor/scout to look at the outside of the property, and I hope that the tenant doesn't start mouthing out while the representative is at the property.
By the way, the pdf of the policy cover anything having to do with mold?
--107.142.xxx.xx |
Dad is freaking out (by Vee [OH]) Posted on: Nov 13, 2018 8:04 PM
Message:
Ask him if he would be happier hiring an atty for a 6 month trial (prolly cost him 200-300,000bux to defend his negligence) or let his heirs take more control, the mold suit would likely force him to auction bldg to pay legal fees. Time for him to get winning lottery tickets. --76.188.xxx.xx |
Dad is freaking out (by pissed daughter [CA]) Posted on: Nov 13, 2018 8:23 PM
Message:
Sigh....:-( I just looked at the email the rep sent me and it's just a renewal that just declares the dollar coverage. I need the actual insurance policy. I'm not sure how I'll get the policy other than calling the insurance company again. --67.180.xx.xxx |
Dad is freaking out (by BRAD 20,000 [IN]) Posted on: Nov 13, 2018 11:09 PM
Message:
Daughter,
If he sells them now he will pay a MOUNTAIN in taxes.
Not to be morbid but if he leaves the properties to your generation in his will, you inherit them tax free.
Have you done Step 1 yet - gone to the home yet and cleaned the mold?
BRAD
--68.50.xxx.xxx |
Dad is freaking out (by Pissed daughter [CA]) Posted on: Nov 13, 2018 11:30 PM
Message:
Depending on results of mold test, we will have a mold remediator come in to clean. So far, we have been told by the mold inspector that the mold/mildew is likely from poor housekeeping. --67.180.xx.xxx |
Dad is freaking out (by LindaJ [NY]) Posted on: Nov 14, 2018 5:47 AM
Message:
Even though you are his daughter, if he hasn't given you permission (power of attorney, other insured, etc) you may not be able to get a copy of his policy without him asking for it. Although you may be trying to help, plenty of children are trying to get their inheritance early. As parents get older, they also start to think that maybe that is the case.
If you can get him to let you review his policies, to make sure he is adequately covered for all his insurance needs, you might be able to help. With his OK the agent will be more cooperative. You should also review his own homeowners policy. Are the deductibles right, is the coverage high enough? etc. Are there any discounts for having or installing things.
Asking for a review of the policy will not trigger any issues. I do this every few years anyway and also shop for price. A big savings might get me to change, a small savings will not.
Mold and lead are usually not covered. Just as flooding unless it is sewer backup. Those cost extra if you can find coverage, at least in my area. --108.4.xxx.xx |
Dad is freaking out (by BRAD 20,000 [IN]) Posted on: Nov 14, 2018 8:52 AM
Message:
Daughter,
I’ll ask a third time- have you looked at the mold and cleaned it with some bkeach water and paper towels?
Mold inspectors ALWAYS find mold because it is EVERYWHERE in the air we breathe. Then they hype up the res into hysteria about dying, and want $20,000 to remediate.
BRAD --68.50.xxx.xxx |
Dad is freaking out (by Nicole [PA]) Posted on: Nov 14, 2018 9:36 AM
Message:
look on line. My personal insurance policies (I believe HO is 70 some pages of tiny print)is right on the web site.
If not, call the agent and say NICELY, "thanks so much for the dec page. Can you please mail to MY FATHER'S ADDRESS, an actual policy." No reason in the world for red flags or this not to be done. Should they ask why and you don't feel like saying "Because he paid for it!", just tell them you're helping him get paperwork in order as he gets older and you can't find where he put the actual policy. Oftentimes at renewal all you receive is a dec page and not the actual policy.
All that said, from personal experience, you are going to lose your mind. Get your dad to give you control or tell him you can't help. Trying to help with bits and pieces and play catch up on situations with no authority DOES NOT work ... this is an ask me how I know. --72.70.xxx.xxx |
Dad is freaking out (by JB [OH]) Posted on: Nov 14, 2018 11:23 AM
Message:
Brad is correct. Take over the management of the properties and wait until after death so you can take advantage of the step up basis in the properties, saving lots of taxes --24.123.x.xxx |
Dad is freaking out (by TLynn [IA]) Posted on: Nov 15, 2018 8:15 AM
Message:
Your insurance rates will NOT be increased because you request a copy of the policy. Just do it. They will send you a copy. --155.188.x.xxx |
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