Force Placed Homeowners Insurance Policy Question

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Puffy Lux

So a few years ago we failed an insurance inspection and weren't able to make repairs, and so were put on force placed insurance by our mortgage company. Things went along for a couple years until about a month ago we got a notice that the policy would end effective sometime this month. Since insurance is a requirement of the mortgage I assumed that if it ended we'd be in danger of foreclosure so I applied for insurance again… but they'll likely inspect soon and it's unlikely we'll be able to meet the requirements in time to avoid another cancellation.

Puffy Lux

I've searched around and I can't find anything about force-placed insurance just ending like this. Can that happen or did I just misunderstand a situation where the term of a given policy would end and another would begin? If we can't find and keep private insurance, are we boned? We live in MD in case that's important to know for this. Any help would be much appreciated.

submitted by /u/theonecalledlarry
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Question on information rights under my own policy.

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Puffy Lux

I hit black ice going slowly down an exit ramp and bumped into the car in front, even though my wheels had stopped moving since the car itself kept sliding. I'm ONLY months later finding out about a surcharge, and so I'm attempting to argue that, but I also wanted to get an itemized breakdown of what was paid to the other driver on MY policy. One agent tried to tell me I can't have that. I would personally disagree. Who is right and if I DO have a right to that info how do I explain that to my insurance company?

Puffy Lux

submitted by /u/FoxF270
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Question on Collateral Assignment of Life Insurance for SBA Loan

Puffy Lux
Better water better life

Hi there!

I'm in the process of obtaining an SBA loan and I'm going to need 3.5M in term insurance collaterally assigned to the lender. I happen to have this amount today, from 4 different policies. Three of the policies (totaling 3M) I took out in January of this year. Since then, I had several pretty serious health issues and I was wondering if requesting a collateral assignment triggers any kind of new underwriting review, particularly given that these policies are all pretty new?

Also, I'd prefer to obtain 3.5M in new insurance and have that assigned to the lender, leaving my beneficiaries the full value of my existing policies. If it turns out that I apply for a new policy and am declined, will that have any impact on my ability to collaterally assign my existing policies? For example will they see the decline in the MIB and then potentially refuse to assign my existing policies, or perhaps attempt to modify/cancel them outright?

Thanks for any and all help great insurance community!

submitted by /u/detroitclos
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Ok, so I have a question or 2 about auto insurance regarding medical payments [CA]

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Puffy Lux

I got T-boned about a month ago by people that dont have insurance. So far I’ve only accrued $38 of medical bills (co-pay and some pain meds) but I may be accruing more pretty soon, I started having lower back pain about 2 weeks after the accident and I’m not sure how much everything is going to cost, going to my doctor soon to see what can be done.

Puffy Lux

I have $1,000 coverage for medical payments, 50k per person/100k per accident for bodily injury, and 50k per person/100k per accident uninsured motorist.

My questions are, if the medical bills happen to go above $1k, do I just have to pay out of pocket or would it also draw from my uninsured/bodily injury coverage? Because if it’s only the $1k coverage that would really fucking suck

submitted by /u/That_random_guy-1
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Question about Rental Coverage

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Puffy Lux

Hello all,

GlacialPure Refrigerator Water Filter for Whirlpool Filter 1 EDR1RXD1 W10295370 2 Packs

I was rear ended a few weeks ago with some pretty significant damage to my car. I have Geico and I filed a claim through them to expedite the process of fixing my car (Im in Virginia, the person who hit a car into mine was at fault I presume because of the type of accident. I was considered not at fault. I have the person who caused the accidents insurance info, Liberty Mutual).

I have a fixed dollar amount of rental car coverage which will end before my car is fixed. The rental company (Enterprise) agreed to cover a few more days and “make it work” with Geico, but I will reach what Enterprise is calling their “maximum” that they will allow me to have the rental before my car is fixed.

What should I do moving forward? Can I ask Geico to chase Liberty Mutual for more rental car coverage? Should I go directly to Liberty Mutual? Am I SOL?

Thanks in advance for any wisdom or suggestions

submitted by /u/Tool0117
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Question about AINS 22: Personal Insurance

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Puffy Lux

I see that the test is 85 questions just like AINS 21 despite 22's book being roughly 25% bigger. Does that mean most of the questions are more generalized? I don't want to skim over anything but at the same time I don't want to obsess over homeowner insurance breakdowns when I work in auto.

What are your thoughts?

submitted by /u/SpikeXena
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Changed jobs, new baby insurance question

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Puffy Lux

I ended my last job early July, and my health benefits are good for the whole month of July. I started my new job July 8th, where my new benefits take effect that date. I had a baby July 23rd. Do I choose one of the two insurances to claim to? Can I submit claims to both? First job was BCBS NC and the other was BCBS Alabama.

Roses

submitted by /u/Fr0zEnSoLiD
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[question] anyone have good advice for Canadian life insurance policies? Looking into life insure, but don’t want to break the bank. I’m already on a tight budget. Just want to make sure my loved ones are looked after when I’m gone.

Better water better life
Puffy Lux

submitted by /u/chainsaw0068
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Question in settlement for dog bite from neighbors dog

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Puffy Lux

My four year old daughter was bitten by our neighbors dog on her face about a year ago. She received about 30 stitches, but there was no severe damage to her eyes or anything. She has some scars around her eyes and on her nose. It looks like most will not be very noticeable except one large cut in the middle of her cheek that was very deep. A plastic surgeon at the Children's hospital did the stitches and we have been to several follow up appointments, but it's hard to say how the scars will look as she ages. The insurance company accepted liability and has offered a settlement of $13k. Can I negotiate this? I just want to make sure we have the money to get any corrective work done when she is older if she wants. We aren't interested in suing our neighbor. Her dog is a yellow lab that is older and not used to kids and has never been aggressive according to her. What should we do? We are in MD if that helps.

submitted by /u/fancynancy11227
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Question about diminished value in Texas

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Puffy Lux

2015 Mustang GT was rear ended in Texas. Other party 100% at fault. Their car is insured, driver is underage, doesn't have a license, and wasn't on the insurance. Damages we're about $8,000. No major frame damage, but the shop said it was skewed and had to be slightly straightened.

LA Series

We were considering trading it in for something else but this accident will drop the value. What is a decent estimate for the diminished value? If their insurance decided not to cover the unlicensed/uninsured driver, how would I get the diminished value?

Prior to accident, car could sell for $27,000. I believe now it would be closer to $18,000.

Thanks in advance.

submitted by /u/TheBloodTypo_
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