119 - Dissecting my Recent Insurance Claims with Ed Babtkis

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________Here are the Show Notes________

Revisit Episode 38 for insurance fundamentals.

Two recent claims broke the straw on the camel's back for single-family homes.

Water claims has a lot of denials and payments.

If homes built in 1920-1960 and pipes haven't been touched, chances are pipes are leaking.

Leaking --> cracked pipe --> pipes burst.

If property vacant, pipe leaking, and in cold weather environment, house needs to be "winterized."

Establish pre-existing condition by taking before and after photos - especially if pipes in good condition when you purchase.

Defining cause of damage always murky.

Recoverable Depreciation = amount of money you get as long as you do the work.

Tenant in Episode 80 went AWOL and trifecta of theft, vandalism and maliciousness mischief.

After before and after pictures, frame claim with timeline of problems - ensures claim happened during policy period.

Ed runs Ross Diversified and insures nationally, such as investment properties, NPN, foreclosures, fix-and-flips, and more.

Best way to contact Ross Diversified: 1-800-210-7677 and/or Bruce Young at byoung@ross2.com.

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