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I just bought a house that has roof damage from a hail storm 3 years ago. The owner could've gotten a new roof as many of his neighbors did but he never filed a claim. I have State Farm and my plan was to file a claim once a bad hail storm rolled through. But I was talking to a couple guys at work and they think I can file a claim tomorrow and get the roof covered. Besides the obvious moral dilemma, is this accurate information? My roof has one leak that's under control, so I'll wait for more damage before I file a claim.

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You might actually get a new roof if you file this claim. Of course the roof comes with three square meals a day and a ... (more)

depalma13 (Apr. 22, 2013 @ 3:01p) |

- Bragging about buying a house below market value, check
- Lacking a basic understanding of how insurance works and will... (more)

brushwood (Apr. 22, 2013 @ 3:12p) |

Umm, dummy, I realize how ludicrous the concept of filing a claim on 3 year old damage is. When more than one person I k... (more)

kriskos4 (Apr. 22, 2013 @ 4:01p) |

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Yes, all preexisting conditions are now covered under SOHFAA ---- the Saving Old Homes for Americans Act








j/k

Sounds like Fraud to me. At least the roof at the jail won't leak for you.

BlueSeaLake said:   Sounds like Fraud to me. At least the roof at the jail won't leak for you.


Burning down the house might yield the same two possible outcomes. New roof or jail roof.

In all seriousness OP, call up your insurance agent if you have questions. If you are afraid to call him/her about a question, then you can be pretty certain you already know the answer.

....

Are you just trying to "double dip"? Hopefully, the damage to the roof was factored into the home's sales price. Is it possible to tell the age of roof damage? If there is a bad storm, is it possible that you wouldn't be covered since the roof's poor pre-existing condition made it more vulnerable to subsequent damage? It's been 3 years. Keep us posted on how much longer you have to wait to get your "opportunity".

Your friends are idiots.

Wait till the next hail hits.

OP what if this happens to you?

kriskos4 said:   I just bought a house that has roof damage from a hail storm 3 years ago. The owner could've gotten a new roof as many of his neighbors did but he never filed a claim. I have State Farm and my plan was to file a claim once a bad hail storm rolled through. But I was talking to a couple guys at work and they think I can file a claim tomorrow and get the roof covered. Besides the obvious moral dilemma, is this accurate information? My roof has one leak that's under control, so I'll wait for more damage before I file a claim.

I like how posters use "moral" and "ethical".

Especially when "criminal" would be the correct choice of words.

chantspel said:   Your friends are idiots.

Or really smart folks who secretly enjoy watching bad things happen ... to others.

BEEFjerKAY said:   chantspel said:   Your friends are idiots.

Or really smart folks who secretly enjoy watching bad things happen ... to others.


Perhaps the company is considering downsizing and they have less seniority than you.

If you call State Farm and start a claim for damage three years ago before you owned the home and before they insured it, I would love to hear their rely.

chantspel said:   Your friends are idiots.

And it seems they're not the only ones......

What would happen if people purchased insurance that paid out, and were allowed to do so, after a fire occurred? That would be ridiculous.

1) Technically, the company you'd file with is whoever insured it at the time of the hail storm 3 years ago.
2) Issue 1 is that you weren't the policy holder.
3) Issue 2 is that it's beyond the reasonable timeframe provided for filing claims, though I have no idea on the legal limitations allowed.
4) None of these sound like good ideas. The inspectors aren't idiots - they will likely look at your neighbor's roofs, notice that they didn't have any damage, and your's will be adjusted to reflect damages that already occurred.

Just play by the rules and do your best - time spent on gaming the insurance system is better used furthering yourself into a job/position/part time work/etc. that brings in more money for you.

"I have State Farm and my plan was to file a claim once a bad hail storm rolled through."

you'd most likely get away with it, assuming you waited for a storm that "caused" similar damage to some nearby homes.

BEEFjerKAY said:   kriskos4 said:   I just bought a house that has roof damage from a hail storm 3 years ago. The owner could've gotten a new roof as many of his neighbors did but he never filed a claim. I have State Farm and my plan was to file a claim once a bad hail storm rolled through. But I was talking to a couple guys at work and they think I can file a claim tomorrow and get the roof covered. Besides the obvious moral dilemma, is this accurate information? My roof has one leak that's under control, so I'll wait for more damage before I file a claim.

I like how posters use "moral" and "ethical".

Especially when "criminal" would be the correct choice of words.


I agree. The value of "moral" and "ethical" is about 0 cents per kilogram.

I would do all kinds of immoral and unethical things if these were completely and perfectly legal, and resulted in appreciable gain to me.

kriskos4 said:   I just bought a house that has roof damage from a hail storm 3 years ago. The owner could've gotten a new roof as many of his neighbors did but he never filed a claim. I have State Farm and my plan was to file a claim once a bad hail storm rolled through. But I was talking to a couple guys at work and they think I can file a claim tomorrow and get the roof covered. Besides the obvious moral dilemma, is this accurate information? My roof has one leak that's under control, so I'll wait for more damage before I file a claim.

This is simply stunning.

Did you not have a home inspection? The inspector should have been aware of any hail events in the area and advised you as such.

Yes, you can file a claim with State Farm. Yes, they will immediately (and rightfully .... THINK ABOUT WHAT YOU ARE ASKING) deny the damages as preceding the original inception date of the policy.

It sounds like you have a garbage roof (one leak that's under control) and you know it needs a new roof. Instead of being a responsible property owner, you would rather wait it out for some storm to come through and put a new roof on your house. Whatever happened to personal responsibility and pride of ownership?

evmocas said:   

Yes, you can file a claim with State Farm. Yes, they will immediately (and rightfully .... THINK ABOUT WHAT YOU ARE ASKING) deny the damages as preceding the original inception date of the policy.
and they'd now know the roof's current condition, and deny any potentially legit claims later on...

ankitgu said:   What would happen if people purchased insurance that paid out, and were allowed to do so, after a fire occurred? That would be ridiculous.

Actually, that is possible and legal, although not something that falls under your average homeowners claim.

When the MGM Grand burned down, the owners purchased just that sort of policy.

There was no fraud involved. The insurance company knew full well what it was insuring.

BEEFjerKAY said:   ankitgu said:   What would happen if people purchased insurance that paid out, and were allowed to do so, after a fire occurred? That would be ridiculous.

Actually, that is possible and legal, although not something that falls under your average homeowners claim.

When the MGM Grand burned down, the owners purchased just that sort of policy.

There was no fraud involved. The insurance company knew full well what it was insuring.


That case is commonly considered as purchasing "retroactive insurance" -- I think that's kind of inaccurate. What they really purchased was insurance to settle their liability claim prior to the claims being fully established. So the way I look at it nothing retroactive happened -- the insurable event (claims being settled and paid) hadn't happened yet. Similarly the other coverage purchased was for damage -- with the insurer gambling that a particular portion of costs wouldn't exceed the premium charged.

In the situation you quoted, it would be like the insurance company looking at the situation and saying they'd charge $X for a policy to pay the fire claims -- gambling on the fact that the claims would either be settled for less than $X or take long enough to settle that there was sufficient investment advantage from the premiums paid to offset any higher claims.

It confuses the situation to try and tie the insurance directly to the fire. You aren't buying retroactive insurance against fire damage, you're buying insurance against some unforeseen increase in restoration costs.

There are also tax and corporate governance reasons a company may choose to purchase "retroactive insurance" (or offer it for sale) when dollar wise of doesn't look financially sound right on the surface.

duckyhood said:   "I have State Farm and my plan was to file a claim once a bad hail storm rolled through."

you'd most likely get away with it, assuming you waited for a storm that "caused" similar damage to some nearby homes.


We get hail all the time, typically in spring. If we get a storm that causes more damage to the roof and/or creates more leaks, you can bet your ass I'll file a claim.

I knew about the roof but went ahead because I got a smoking deal on this neglected house. I paid 245K and 3 houses just went up for sale on my street in the 330s, one went under contract the same day it was listed. I think my home value went up $5000 once I cut the grass, erm...weeds.

The inspector said I have 5-7 years left in the roof. If I can file a claim in the time I'll do it. If not, I'll pony up for the roof. Keep the red comin'!

You might actually get a new roof if you file this claim. Of course the roof comes with three square meals a day and a new roommate.

- Bragging about buying a house below market value, check
- Lacking a basic understanding of how insurance works and willing to commit fraud, check
- Reveling in mockery and not realizing how dumb the question is, check

... Living the American Dream

brushwood said:   - Bragging about buying a house below market value, check
- Lacking a basic understanding of how insurance works and willing to commit fraud, check
- Reveling in mockery and not realizing how dumb the question is, check

... Living the American Dream


Umm, dummy, I realize how ludicrous the concept of filing a claim on 3 year old damage is. When more than one person I know said I could, I posed the question to fwf just to be sure I wasn't missing something. Somebody asked why I would buy a house with known roof damage and I replied that I know about it and got a good deal on the house, hardly bragging. I know how insurance works and I have never, nor do I intend to, committed insurance fraud.

You're an idiot.



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