AboutJay K. Williams, AAI, AIP, CIC, CRM Expertise I can answer questions relating to the following coverages: personal auto; homeowners; commercial auto; commercial liability; commercial property; business income and all other property and casualty coverages.
Experience I have been in the insurance industry in Florida since 1979. I am currently the president of a Florida domestic insurance company subsidiary. I've taught continuing education classes in Florida and across the country. I am quite familiar with all coverages including Florida Condominium master policies and unit owner policies. I also specialize in agent professional liability. I have been a professional educator since 2001.
Organizations I am a member of the Florida Associaion of Insurance Agents, the state affiliate of the Independent Insurance Agents and Brokers of America.
Education/Credentials I currently carry the following professional designations:
Accredited Advisor in Insurance (AAI)
Associate in Insurance Production (AIP)
Certified Insurance Counselor (CIC)
Certified Risk Manager (CRM)
Question We live in the state of Wisconsin and my question has to do with a hail damage claim. There was a hail storm in 1998 that caused some localized damage in our area and we called the insurance company to see what to do if we were to have a claim. The insurance company had an adjuster come to the area and make a quick appraisal of a number of homes in our court and issues checks for expected repair of roofs, siding, etc. We then had a local contractor come over and inspect the roof and he said there was no issue at all with the roof that at the time was only 4 years old. We then held the money in savings in the expectation of if there would be an issue we would have the roof fixed. Last year, 2008, we sold the house and said on the condition report that there were no issues with the roof, and there were none, no leaks, missing shingles, etc. The buyer also had a home inspector look at the roof from inside and out and he had no issues. Now 18 months after the sale, in 2009, the new buyer is replacing the roof in anticipation on potential problems and wants us to help with the repair costs based on the insurance pay out in 1998. I need to know how to address this claim.
Thanks for your time and consideration.
Answer Hey Mark,
I'm going to preface my answer with the disclaimer that I'm not an attorney or a licensed real estate professional. I would recommend that you contact someone on this site that might have that expertise.
From an insurance perspective, I see no obligation on your part. When a claim payment is made, there is no stipulation that you actually use it for the repairs.
In my humble, unqualified opinion, you sold your house to these people and they purchased it based on the information supplied by THEIR inspector. I don't see that you owe them anything. They accepted the house based on its condition. I don't see this as an insurance claim.
Just as an added point, most property insurance claims are subject to a statute of limitations set by your state government. At this point, any damage that may have been done to your roof in 1998 is far beyond any obligation by the insurance company, had they not already made the payment.
I hope that helps a little. Let me know if you have additional questions.
