rassd71
12-10-2006, 02:08 PM
Hey Everybody,
Sorry it's been a bit since the last update. As the title says, things have not gone well lately. ... that's not entirely true. They've been challenging. And we're not done with it yet.
To put it simply, our job site was robbed over the weekend before thanksgiving. They broke the welded nuts off the shipping container and cleaned us out! All of my tools, the copper for the plumbing and the 3/0 main power line, as well as plumbing fixtures, light fixtures and the girls christmas presents. Just to list a few things. The ballpark right now is about $30k. We've stolen the money from the stucco guy to keep moving and have borrowed against my wifes 401k to keep going and are fighting with the insurance companies.
And that's really the value to this thread. IF you are going to do something like this, know exactly what your policy and ALL of the loopholes are. We have two policies to cover that property. One is a COC or course of construction policy and we are at the beginning of that filing process. The second, the one that I thought covered everything and is the one we've been fighting with, is a home owners policy on our current place that was extended to cover the secondary property. We specifically purchased it so it would cover the secondary property. But this is where the legal bs comes in. It does NOT cover theft unless the property is a 'temporary residence'. Well, I have a fridge and microwave and electric skillet onsite, and eat 2-3 meals a day there. As well I have stayed on a regular basis when needing to meet with subs early. So I asked what defines a 'temporary residence'? The response was... 'we don't have a definition, but you don't qualify'!?!
So, this post is simply a heads up to everyone, know exactly what is and is not covered. I would have been better off locking everything in a van parked on the property and keeping a simple auto policy on it!
Oh, the coc will cover the building materials, but not tools or personal property!
Sorry it's been a bit since the last update. As the title says, things have not gone well lately. ... that's not entirely true. They've been challenging. And we're not done with it yet.
To put it simply, our job site was robbed over the weekend before thanksgiving. They broke the welded nuts off the shipping container and cleaned us out! All of my tools, the copper for the plumbing and the 3/0 main power line, as well as plumbing fixtures, light fixtures and the girls christmas presents. Just to list a few things. The ballpark right now is about $30k. We've stolen the money from the stucco guy to keep moving and have borrowed against my wifes 401k to keep going and are fighting with the insurance companies.
And that's really the value to this thread. IF you are going to do something like this, know exactly what your policy and ALL of the loopholes are. We have two policies to cover that property. One is a COC or course of construction policy and we are at the beginning of that filing process. The second, the one that I thought covered everything and is the one we've been fighting with, is a home owners policy on our current place that was extended to cover the secondary property. We specifically purchased it so it would cover the secondary property. But this is where the legal bs comes in. It does NOT cover theft unless the property is a 'temporary residence'. Well, I have a fridge and microwave and electric skillet onsite, and eat 2-3 meals a day there. As well I have stayed on a regular basis when needing to meet with subs early. So I asked what defines a 'temporary residence'? The response was... 'we don't have a definition, but you don't qualify'!?!
So, this post is simply a heads up to everyone, know exactly what is and is not covered. I would have been better off locking everything in a van parked on the property and keeping a simple auto policy on it!
Oh, the coc will cover the building materials, but not tools or personal property!