fire estimate
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fire estimate - 8/3/2006 7:06:28 PM
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quarky
Posts: 11
Joined: 11/19/2004
Status: offline
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If you inspected a mobile home that was totally destroyed by fire, nothing left but the heat bent frame, and the carrier is requiring an estimate of repair plus the NADA, how do you propose to complete the estimate? The diminsions and room count is gathered from the real estate appraisal done 20 years ago. The MH is a 1978 and the mfgr is out of business, so calling them for a floor plan and room dims is SOL. Finding a like kind and make is like looking for a needle in a haystack. AND, the insurance is force placed.
What would you do for an estimate?
Tired and frustrated................
IA in FL
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RE: fire estimate - 8/3/2006 8:19:13 PM
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Horace
Posts: 19
Joined: 4/19/2004
Home base: Jacksonville, FL
Status: offline
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Off the top of my head, I would send the carrier a picture and a copy of the Florida.VPL and request the policy limit. Oh, but, on second thought, a Florida Mobile Home Insured can opt out of the VPL by having an ACV policy or an RCC policy, rather than the necessary 'stated value' policy which triggers the VPL.
_____________________________
Horace Smith
Public Adjuster
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RE: fire estimate - 8/3/2006 10:15:26 PM
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givemeroofs
Posts: 301
Joined: 4/19/2004
Home base: Houston, Texas
Status: offline
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How can you write a repair estimate on something that is not repairable?
Does the carrier not understand the concept of "total loss?" Were they underinsured also?
Just a thought...if this is a forced policy, could the mortgagee just send a demand for limits?
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RE: fire estimate - 8/3/2006 11:26:21 PM
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Wes
Posts: 616
Joined: 4/19/2004
Home base: Deerfield Beach, FL
Status: offline
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Force place coverage is a commercial policy as opposed to a homeowners policy. It is in place to protect the business interest of the mortgage company. Depreciation still applies to force place insurance policies in Florida. I am not sure if the VPL applies to this type of policy. Most carriers will want you to write an estimate on a total loss up until you reach policy limits. Should be very easy on a mobile home. The aluminum siding and roof will probably put it over the limits. If not throw in the kitchen, walls, flooring, heating and air and if you haven't hit limits by this time then this mobile home was way over insured. One problem that may arise is force place coverage limit is usually the amount of the remaining mortgage. If this coverage was just placed on a new purchase then the limit may be very high and the actual structure over insured. It does not matter to the insurance company or mortgage company that they are over insured because this type of policy costs the homeowner 2-3 times more in premium than a traditional homeowners policy.
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RE: fire estimate - 8/4/2006 1:18:31 PM
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odenspike
Posts: 14
Joined: 4/19/2004
Home base: Ft. Worth, TX
Status: offline
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Just do your best, make some assumptions on stuff like you know there was probably vinyl in the bathroom, carpet in the bedrooms, etc. You wont get any exact measurements, but if you know what and how many rooms were in there then you can come up with something. Just rebuild it from the ground up.
Not sure how you're getting paid on it, but you are probably better off with stick building this thing up anyways.
Just call some mh reseller to see if they can help you with a price on it.
_____________________________
Claims Manager
The Littleton Group
Ft. Worth, TX
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RE: fire estimate - 8/4/2006 5:31:02 PM
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TomS
Posts: 116
Joined: 4/19/2004
Home base: Texarkana, TX
Status: offline
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how much coverage probably about 8000.00 at most if 78. by time you write flooring, carpeting, subflooring, bellyboard, roofing decking, wall boards, plumbing, electrical and on and on you got yourself a "constructive total loss"/
Then call 3 dealers and price out LKQ with phone calls note names and numbers and fire in the report.
should be a no brainer and make a little money.
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RE: fire estimate - 8/4/2006 7:19:15 PM
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quarky
Posts: 11
Joined: 11/19/2004
Status: offline
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Thanks everyone for your input, you came thru. I decided to built it from the outside in - wall framing, siding, roof, subfloor, insulation, windows, ext. doors, plus known items such as elec. wiring per room, toliet, sinks, tub, light fixtures, etc. Guess what, got the limits without having to have one room dim., or carpet, or cabinets, etc. I still had to include the blue book and 3 quotes from mh dealers. Got more laughs than quotes from the dealers, they don't have much call for the 1978 vintage.
Thanks guys,
IA in FL
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RE: fire estimate - 8/4/2006 7:35:05 PM
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trader
Posts: 1200
Joined: 4/19/2004
Home base: Houston, TX
Status: offline
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Please keep in mind the auto policy that is written on MH covers the peril of flood. The Mobile Owners policy does not. Follows more along the HO 1, but please get the form as it needs to be understood. Don,t ever turn down 50 MH on the river bank or ocean shore with the auto form, shooting ducks.
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