Am I in Trouble? Non-Renewal Notice with Possible Claim
I recently received a letter from Erie Insurance notifying me that my broker is switching providers, and now I need to find new coverage. I’ve been meaning to have an adjuster look at my damaged chimney to see if it’s covered, but I’ve been delayed. I noticed the damage months ago and started getting quotes from brick masons, which took longer than expected. The assessment revealed that the chimney is structural and requires demolition down to the roofline and rebuilding, along with a new lintel, with an estimate of $7,500.
I’ve reached out to my insurance agent a few times, but I haven’t received a response yet. I suspect there might be water damage under the roof, possibly from an old repair related to flashing and sheeting work done years ago.
Now, I find out that my policy isn’t being renewed. I had a conversation with my broker about the potential claim (possibly a poor choice on my part) and was advised that if I proceed with a claim through Erie, it will appear on reports that the new insurer can access, meaning I’d have an active claim without a resolution.
Alternatively, I could switch to a new policy and hope they don’t conduct an inspection that uncovers the chimney damage. While I need to get it repaired, the timing couldn’t be worse. If the existing damage prevents me from getting new coverage, I risk a lapse that could complicate things further.
Does anyone have any suggestions? I’m leaning towards filing a new claim and praying for no inspection, getting the chimney fixed out of pocket, and moving forward. I heard that my dad switched from Erie to Farmer’s without any required inspection, which gives me a glimmer of hope.
It sounds like you’re in a really tough spot, and I can understand your frustration. Here are a few things to consider:
Claim Timing: If you believe the chimney damage is significant and you’re already planning to get it repaired, it might be worth pursuing the claim with Erie. Be aware that if you file a claim, it may show up on insurance reports, which could potentially complicate getting a new policy. However, if you don’t file and the damage is discovered later during a claim or inspection, it could lead to bigger issues down the line.
Document Everything: Before making any decisions, document the damage, quotes, and any communication you’ve had with your insurance agent or broker. This can help you with your new insurer if they request information or if issues arise in the future.
Find a New Insurance Provider: While your dad had a smooth transfer to Farmers without an inspection, every insurer has different policies. It might be worth contacting multiple companies to find one that won’t require an inspection or will be lenient about pre-existing damage.
Get the Repairs Done: If you can afford it, consider getting the repairs done out of pocket before switching insurers. This might help you avoid complications associated with having a damaged property when applying for new coverage.
Consult an Expert: Before making a decision, it might be wise to consult with a professional insurance broker. They can give you tailored advice based on your situation.
Check for Coverage Gaps: If you decide to switch to a new policy without filing a claim right now, ensure you understand the new policy’s coverage and any potential gaps during the transition period.
Ultimately, it’s about balancing the risk of a potential claim affecting your ability to get new coverage against the need to address a significant repair. Make the choice that feels right for you, and don’t hesitate to seek professional advice if you feel uncertain. Good luck!