Insurance and flooding

Lightyear · 04-20-2007, 09:56 AM

We called our insurance company to report the flood. A rep came out to assess our damage and we are NOT covered.

Is out house forever under the stigma of being a flooded home? Or, since they did NOT cover us this won't be recorded in the house records?

What can we do to better offset the stigma of having a flooded house when we decide to sell the home?

Thanks

handy man88 · 04-20-2007, 10:08 AM

You'll have to disclose that this house has been flooded. It's the law. Based on that, you need to document everything that you do from this day forward that addresses the issue.

Your insurance company may decide to drop you (or not renew) down the line if they deem your house as high risk. Based on this, the eventual buyer of your home may not be able to secure insurance for your home, and the sale will be nullified.

That's also why it's equally important to hire an enviromental consultant. He'll do his investigation before and after the cleanup. Only with his professional approval will your house be deemed mold free. Otherwise, nevermind a flood potential, your house could be labeled as a "sick house" too.

KUIPORNG · 04-20-2007, 10:10 AM

how come insurance don't cover that... my friend's house also flooded due to heavy rain floor in Toronto one or two years ago... the insurance company is so funny in the beginning saying it is not covered because of natural disaster, but who knows may be a blocked in the street drainage system at the time of the heavy rain fall by garbage, then it is classified as accident.... end up the whole community in that town house structure got covered, all cleanup expense paid by the insurance company.... I think they fight with the insurance company and got won....

Insurance company for sure always don't want to pay... who wants anyway... in the beginning... may be you need to fight...