thanks for sharing...

just few thoughts.

1. public adjusters, depends size of claim, usually 10% of total claim, usually they only useful if you have lots of personal properties involve, such a clothing and household items, they will come in the documents every items down to the last pencil, but since this is a rental, insurance only cover things like major appliances( if you have a content coverage ), structure wise, everyone is use same set of guild line and estimate software, it wouldn't be much differences, most insurance company adjustors are willing to work with you, to them, claims under 200k, is small, they just want to get done, and go to next one. if you can post some pics, I can almost tell you a number you can shoot for.

2. if your house has mortgage, the insurance will issue the check bear both bank and your name, and bank will open escrow account for di*****ursements as work progress. sometimes insurance company will recommend some contractors to you, because they give better rate to insurance, if you want less headache, you can use them, but if you want make some money, may want to hire your own.

3. if you intend to DIY, you should talk to your local building commissioner, and fire marshal, they can give you some idea, on what they looking for, it be some headaches, but its worth it.

4. if you don't have much background in construction, it be easier to hand over project to a known good contractor, you will find out, many small guys are fly by night, money out of your hand, never see them again.

5. you will get a bill from local fire department for the fire truck run, and also a bill from whoever board up the house, these are separate items under most policy, for forward to insurance.

6. don't worry about what your tenants say, you are not in charity biz, red cross sometimes pay for hotel for a week for them, after that, its their own problem, in the past, I sometimes move them to different unit, but all depends if availability.

7. don't guess the cause of fire, it may cost you a liability claim later if not careful, the insurance company will do a cause of origin, same as the fire Marshall, but most of time, fire marshall just use whatever insurance company find out. one way or other, none of your problem, thats why you have insurance.


...good luck... haha, congrats, you are one step closer to successful landlording..

jy

所有跟帖： 

• Thanks for your comments. They are very helpful. -股氣東來- ♀ (0 bytes) () 05/22/2012 postreply 17:53:49