Home Insurance Coverage Turn down avoidance

[alanhuro]

Hello All
I have a few questions about our rental Home Insurance. Three years ago one of our rental house had a major water leak that required our insurance to pay out 25,000 to fix it. Just in October of this year we have a major wind and hail damage to the roof. The damage also caused a leak on a roof that required some repair on the ceiling in some rooms upstairs. We have a contractor and they estimate the repairs for close to 27K. The adjuster sent by insurance only pay 13K. Our contractor told us that they have their own lawyer team to make sure the insurance will cover up to 27K. The questions I would like to ask are
1. Should I have a contractor to represent us to work directly with insurance to make sure all the damages get repair?
2. If there are two much claims or the cost on claim too high on this rental house does it affects the future renewal? Is it adding more risk of getting turn down from renewal or buying insurance for this house in future?
3. Will this increase our home insurance premium?
Thanks in advance for your answer and which you have a blessed Christmas and enjoys your holidays

 

[fed up]

Work with your insurance company and do not sign anything presented by the contractor which goes against the estimate from your insurance company until it has been approved. Your policy should read that the insurer has the right to repair or replace AT THEIR OPTION any damaged areas. Many contractors will try to convince you that they can get more money for repairs but uf you sign the contract you are now responsible for any difference. Also 2 major claims in 2 years might keep you from getting covered by another company and you will see an increase in premium for at least 3 years. And you have a Landlord Policy, not a rental policy. Your best bet is to keep your policies with this carrier as they will be more inclined to continue the policy based on additional business from you. Pulling policies would make them more inclined to non-renew and then you could be stuck based on the 2 weather claims