Lead Paint Insurance

Shane Smith asked:


The most important step in purchasing a home in the State of Arizona is by choosing a lending agency that will loan money on terms that will cut costs without cutting corners. The purchaser should get a pre approved and pre qualified credit rating. This will enable the purchaser to have the necessary documentation to submit to the best lending agency that will give the best deal.

Once the purchaser has assessed credit worthiness it is important that a Realtor be hired. The Realtor will be able to give the purchaser the best options in the home hunt. A Realtor who is a member of the National Association of Realtors will have access to the multi listing service provided by the association. The multi listing service will help the purchaser choose a home according to his budget and according to his needs.

When the purchaser identifies the property an offer is made to the seller in an Arizona State Approved Purchase Contract formatted document. The seller is given time to answer the offer and is required under the laws of the State of Arizona to give full disclosure of the defects and possible hazards of the property with regard to location structure and the like. When the seller accepts the agreement and signatures of both parties are affixed, the agreement becomes a binding purchase agreement.

The purchaser will now conduct inspection of the property by engaging approved inspectors for defects in structure, pest control, radiation and lead paint usage. Inspection of sewer facilities and an evaluation report of improvements made on the property by the seller is also required. The purchaser should also engage an attorney, a real estate title company or a title and trust company to search for possible defects in title recorded in public departments or courts. The American Land Title Association has a list of approved title search companies for the reference of the purchaser.

Possible title defects will include implied easements arising out of necessity and liens arising out of unpaid taxes, money due on judgments and unpaid mechanics or workers. The purchaser should buy a title insurance policy which usually has a one time premium to insure the property against any possible but unseen title claims. A list of amenities and other portables that are being sold with the house is also required. Mortgage companies require ownership and encumbrance reports to ensure that the property is adequate security for the amount loaned.

The mortgage company will approve the title report within 5 days of receipt. The purchaser can then deposit the down payment or earnest money to the seller. The purchaser is required to change the names in all utility connections 3 to 5 days before the closure of the contract.

On the date of closure the purchaser should bring identification papers such as a driving license and a home owners insurance with the proof of one years paid premium and any other documents required by the lender company. Once the deed is signed the transaction is closed and the purchaser has purchased a home in the state of Arizona.

Ranju Kumar asked:


To combat fraud, many insurance companies are getting tougher on claims submitted by consumers.

But while some insurers delay payment to raise justifiable questions about claims, others drag their feet or deny payment for no apparent reason.

Here are the most common excuses insurance companies give when limiting or denying auto, home and health insurance claims - and the best ways to fight back…

AUTO INSURANCE

*”Your car isn’t worth as much as you say it is.” Insurance companies base their car-value assumptions on industry data that is similar to the information found in Kelly Blue Book. Keep in mind that Kelly Blue Book provides only average values of vehicles and that individual cars can be worth significantly more or less, depending on their condition and included extras.

Examples: Your car may have been garaged … have low mileage … or have expensive options, such as a sunroof or a V8 engine.

To support your claim for higher reimbursement: Check the classified ads in your local paper. If you find a half dozen cars that are similar to yours selling for more than the value listed in Kelly Blue Book, collect as much data as you can and send it to your insurer. Your insurer may relent.

*”Your car can be repaired for a lot less.” Some insurers set out to reduce all claims payments by a set percentage, even when the amounts are legitimate. Of course, most insurers won’t say this openly. Instead, the company might say that the $3,500 estimate you received is too high and that your car can be repaired for only $2,500.

Helpful: Don’t be intimidated. If you visit three repair shops, and the lowest bid was $3,500, insist that your insurer pay the claim in full. And don’t be pushed into using a cheap repair shop chosen by the insurer. I’ve never seen a policy that requires policyholders to go to a particular repair shop.

If your insurer still balks, say you’ll turn the matter over to your attorney. This may make the insurer pay up. If the difference between you and your insurer is a few thousand dollars, it will cost the company more to hire a lawyer than to pay you off.

HOMEONVNEWS INSURANCE

*”The problem cited in the claim is due to previous damage or normal wear and tear.” This is a favorite ploy of insurers that want to avoid paying up.

Solution: Challenge the company to prove that it does not cover these claims. Ask where in the policy it says so. Also, ask for proof it was “wear and tear” or previous damage. Insurance policies are written by the insurance company. If the language they rely upon is vague or ambiguous, you can collect - courts hold that ambiguity is always against the insurance company.

Example: A couple from Texas had their roof and window air conditioner damaged by a hailstorm. The company’s adjuster acknowledged that the air conditioner had been hurt by hail but insisted the hail hadn’t damaged the already old roof.

The couple canvassed their neighbors and found that other families’ insurers had paid for new roofs. The couple called the insurer with the information. The insurer then reversed itself, knowing that its policy language was the same as that of the other insurance companies that paid.

Under the typical homeowner’s policy, you are entitled to the full cost of repairing or replacing a damaged roof, even if the roof is old.

*”You may fix or replace the damage for less than you claim.” Some insurers will use this line as a trial balloon to see how low it can cut a claims payout before you complain. As long as you have a replacement policy and can show that it is impossible to replace an item for the amount the insurer is offering, stick to your guns.

*”We’re delaying payment because the cause of the claim is suspicious.” It’s bad enough your house was damaged by fire, but now the insurer is holding up payment because it has questions about the fire’s cause.

It’s one thing if payment is temporarily delayed because of an investigation to rule out arson. But if arson is suspected, the fire department usually conducts its own inquiry.

If the fire department hasn’t found it necessary to check the origin of the fire, ask the company directly if it is accusing you of arson.

If the answer is no, tell the insurer you expect the money to be forthcoming promptly or you will refer the matter to your attorney. If the answer is yes, call your lawyer immediately.

Important: Don’t worry if you inadvertently caused the fire. People cause fires every year by falling asleep in bed while they’re smoking, and many companies pay up anyway.

*”No receipts, no coverage”. Ideally, it’s best to have a written inventory of everything in your house.

But if you neglected to follow through on this chore, don’t despair. Homeowner’s policies don’t require that you have receipts for damaged or stolen items, only that you show some proof of what you owned.

Helpful: Go through family photos, looking for pictures that show the items. You can also ask relatives and friends to check their photos for pictures that show people grouped around specific furniture and paintings.

Also, get sworn statements from friends and relatives and from merchants who sold you the items, attesting to the existence of those items.

HEALTH INSURANCE

*”We won’t pay because this treatment isn’t medically necessary.” This is particularly troublesome with certain HMOs, which can be very tightfisted about what procedures they will cover.

Helpful: Put pressure on the insurer, starting with your doctor. Also, contact your employer’s benefits department, and then call the insurer. If this doesn’t work, say you’ll contact your state insurance department or the media.

*”This treatment isn’t covered because it’s experimental.” The problem is that policies can be ambiguous about which treatments are considered experimental and which are considered standard.

Helpful: Enlist the help of your physician in defending treatments.

Example: One insurer recently refused to pay for a migraine sufferer’s stay at the Mayo Clinic because it said the treatment she was given was experimental.

Her doctor referred to his medical school textbooks, which described the treatment he ordered as “classic.” He also found that in 49 other states, the treatment was considered routine.

The insurer reversed its decision.

*”We’re not paying the entire bill because your doctor charges too much.” Insurers balk at paying bills that exceed the “usual and customary” fees for the service in an area. The problem is determining what is usual and customary in your region because insurers are notoriously closemouthed about this.

Helpful: Call your doctor’s office, and ask the billing manager how much other insurance companies have paid for the same procedure.

Also find out whether your doctor did multiple procedures but billed you as if it was just a single one. Clarifying the bill can often lead to a larger payment from the insurance company.