Insurance policy cancelled due to exterior paint

3 Reply

Emily Fraser

OP

Member since 2022 · 10 posts · 12 votes

2y

Quote from @Chris Seveney:

Quote from @Emily Fraser:

I am a newbie and just made my first purchase of a triplex two months ago. I was surprised to receive a cancellation notice of my insurance policy after they inspected the exterior of the property. They said that 15% of the exterior paint is not up to standard. I would like to repair the problem and retain the policy, but November does not seem like an ideal time to repaint a house in Ohio. Unfortunately, they only gave me until Dec 21 to show that the necessary repairs have been done. This doesn't seem likely.

Would you suggest repairing the problem if possible, or trying to get new coverage? When I reach out to new insurance companies, do I disclose that the previous policy was canceled? What if no one will insure it? I feel a bit frustrated and stressed that the company said they would insure me before I purchased and then canceled the policy right after I closed.

Thank you in advance for the advice.

typically when completing an insurance form they ask for prior policy and if it was cancelled.

If the property is occupied I would make sure I have insurance coverage on it. What does the exterior look like? How big is the property? I would consider putting vinyl siding on the exterior so I then do not have to worry about painting it every several years.

Yes, I need insurance for many reasons.

I would consider putting vinyl siding on it in the future, but the problem is getting it insured for now. The exterior doesn't look terrible- just a few spots that are in need of repair. So I guess what I'm looking for is an insurance company that would insure it as it is while I work on getting it repaired. I would rather wait until warmer weather to repaint it, and it's a large house, so not sure that replacing it with vinyl siding will happen immediately.

0 Reply

Chris SeveneyBusiness Member

Moderator

Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes

2y

Quote from @Emily Fraser:

Quote from @Chris Seveney:

Quote from @Emily Fraser:

I am a newbie and just made my first purchase of a triplex two months ago. I was surprised to receive a cancellation notice of my insurance policy after they inspected the exterior of the property. They said that 15% of the exterior paint is not up to standard. I would like to repair the problem and retain the policy, but November does not seem like an ideal time to repaint a house in Ohio. Unfortunately, they only gave me until Dec 21 to show that the necessary repairs have been done. This doesn't seem likely.

Would you suggest repairing the problem if possible, or trying to get new coverage? When I reach out to new insurance companies, do I disclose that the previous policy was canceled? What if no one will insure it? I feel a bit frustrated and stressed that the company said they would insure me before I purchased and then canceled the policy right after I closed.

Thank you in advance for the advice.

typically when completing an insurance form they ask for prior policy and if it was cancelled.

If the property is occupied I would make sure I have insurance coverage on it. What does the exterior look like? How big is the property? I would consider putting vinyl siding on the exterior so I then do not have to worry about painting it every several years.

Yes, I need insurance for many reasons.

I would consider putting vinyl siding on it in the future, but the problem is getting it insured for now. The exterior doesn't look terrible- just a few spots that are in need of repair. So I guess what I'm looking for is an insurance company that would insure it as it is while I work on getting it repaired. I would rather wait until warmer weather to repaint it, and it's a large house, so not sure that replacing it with vinyl siding will happen immediately.

another option is just paint it where its damaged, take photos and buy yourself some time and do the real repairs in the spring.

7e investments53 Reviews

[email protected]330-354-6590

Brittany MinocchiBusiness Member

Lender · Massillon, OH · Member since 2022 · 1k+ posts · 486 votes

2y

I had a similar thing happen (also in Ohio) and I wonder if we had the same insurance company...I received a notice that they wouldn't be renewing. I didn't lose my coverage, but I took the opportunity to shop around and switched to another company. They also did an inspection, but I didn't hear anything afterwards, so assumed all was well. This was a few months ago. Was your policy cancelled effective immediately, or was it a notice of non-renewal?

Brittany Minocchi - Barrett Financial Group, LLC522 Reviews

View Page

Scott E.

Contractor · Scottsdale, AZ · Member since 2010 · 2k+ posts · 3k+ votes

2y

I had this happen to me a while back with a house our here in Arizona, but it was the roof that they required to be replaced. It's a bummer but what I realized at the time was "they're right" so I went ahead and replaced the roof.

It's your opinion that November wouldn't be a good time to repaint a house in Ohio. I'd talk to a painting contractor and have them confirm that. They will either tell you you're wrong, or maybe they will provide you a contract/letter stating that they will repaint for you when the weather improves. I would think the insurance company would make an exception to that Dec 21 date if they had something like this from an actual painter.

4 Reply

Mark S.

Real Estate Investor · Saint Paul, MN · Member since 2017 · 543 posts · 474 votes

2y

@Emily Fraser There are paints that can be applied at 40 degrees. Why not touch up the areas that need it, even if it looks a little off, and then do a full repaint in the spring? I did something like that a few years ago and had no issues with the paint. Good luck!

https://www.sherwin-williams.com/painting-contractors/business-builders/paint-technology-and-application/sw-art-late-season-painting

Scott Mac

Austin, TX · Member since 2019 · 5k+ posts · 5k+ votes

2y

Quote from @Emily Fraser:

I am a newbie and just made my first purchase of a triplex two months ago. I was surprised to receive a cancellation notice of my insurance policy after they inspected the exterior of the property. They said that 15% of the exterior paint is not up to standard. I would like to repair the problem and retain the policy, but November does not seem like an ideal time to repaint a house in Ohio. Unfortunately, they only gave me until Dec 21 to show that the necessary repairs have been done. This doesn't seem likely.

Would you suggest repairing the problem if possible, or trying to get new coverage? When I reach out to new insurance companies, do I disclose that the previous policy was canceled? What if no one will insure it? I feel a bit frustrated and stressed that the company said they would insure me before I purchased and then canceled the policy right after I closed.

Thank you in advance for the advice.

Hi Emily,

Call a Sherwin Williams COMMERCIAL paint store and ask if they have cold weather paint and if they can recommend a painter to help you out.

Maybe something like this would work

Good Luck!

[email protected]301-893-4635 Podcast Guest on Show #192

Russell BrazilBusiness Member

Moderator

Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes

2y

Just get a new policy

District Invest Group546 Reviews

Podcast Guest on Show #243

0 Reply

JD MartinBusiness Member

Moderator

Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes

2y

Quote from @Chris Seveney:

Quote from @Emily Fraser:

Quote from @Chris Seveney:

Quote from @Emily Fraser:

I am a newbie and just made my first purchase of a triplex two months ago. I was surprised to receive a cancellation notice of my insurance policy after they inspected the exterior of the property. They said that 15% of the exterior paint is not up to standard. I would like to repair the problem and retain the policy, but November does not seem like an ideal time to repaint a house in Ohio. Unfortunately, they only gave me until Dec 21 to show that the necessary repairs have been done. This doesn't seem likely.

Would you suggest repairing the problem if possible, or trying to get new coverage? When I reach out to new insurance companies, do I disclose that the previous policy was canceled? What if no one will insure it? I feel a bit frustrated and stressed that the company said they would insure me before I purchased and then canceled the policy right after I closed.

Thank you in advance for the advice.

typically when completing an insurance form they ask for prior policy and if it was cancelled.

If the property is occupied I would make sure I have insurance coverage on it. What does the exterior look like? How big is the property? I would consider putting vinyl siding on the exterior so I then do not have to worry about painting it every several years.

Yes, I need insurance for many reasons.

I would consider putting vinyl siding on it in the future, but the problem is getting it insured for now. The exterior doesn't look terrible- just a few spots that are in need of repair. So I guess what I'm looking for is an insurance company that would insure it as it is while I work on getting it repaired. I would rather wait until warmer weather to repaint it, and it's a large house, so not sure that replacing it with vinyl siding will happen immediately.

another option is just paint it where its damaged, take photos and buy yourself some time and do the real repairs in the spring.

This is exactly what I would do. Also keep in mind that a lot of companies never follow up on these things. I'm not saying you should just ignore them, but I have personally had at least 3 instances where I was given a deadline for repairs on a new purchase by the insurance company, and they never cancelled, asked for photos or reinspected. So I wouldn't run out and reside the house with vinyl siding or spend all week shopping new companies just yet. Get some cold weather paint, spot repair the worst spots, take some pictures and send them in. That should get the cancellation notice rescinded. If not, then get a new policy before this one's cancellation goes into effect and cancel your policy with them voluntarily.

Skyline Properties

View Page

Carlos Ptriawan

Member since 2019 · 7k+ posts · 4k+ votes

2y

Quote from @Emily Fraser:

I am a newbie and just made my first purchase of a triplex two months ago. I was surprised to receive a cancellation notice of my insurance policy after they inspected the exterior of the property. They said that 15% of the exterior paint is not up to standard. I would like to repair the problem and retain the policy, but November does not seem like an ideal time to repaint a house in Ohio. Unfortunately, they only gave me until Dec 21 to show that the necessary repairs have been done. This doesn't seem likely.

Would you suggest repairing the problem if possible, or trying to get new coverage? When I reach out to new insurance companies, do I disclose that the previous policy was canceled? What if no one will insure it? I feel a bit frustrated and stressed that the company said they would insure me before I purchased and then canceled the policy right after I closed.

Thank you in advance for the advice.

The actual reason why they do cancellation is because they lost money, they have layoffs in their company and insurance company is not profitable these days. Many of these company is trying to clean their books.

While it's okay to fix issue, just change insurer.

Alan F.

Flipper/Rehabber · CA · Member since 2023 · 1k+ posts · 1k+ votes

2y

Quote from @Emily Fraser:

I am a newbie and just made my first purchase of a triplex two months ago. I was surprised to receive a cancellation notice of my insurance policy after they inspected the exterior of the property. They said that 15% of the exterior paint is not up to standard. I would like to repair the problem and retain the policy, but November does not seem like an ideal time to repaint a house in Ohio. Unfortunately, they only gave me until Dec 21 to show that the necessary repairs have been done. This doesn't seem likely.

Would you suggest repairing the problem if possible, or trying to get new coverage? When I reach out to new insurance companies, do I disclose that the previous policy was canceled? What if no one will insure it? I feel a bit frustrated and stressed that the company said they would insure me before I purchased and then canceled the policy right after I closed.

Thank you in advance for the advice.

Do yourself a huge favor, find a good insurance broker. It's a game changer.

Owen RosenBusiness Member

Professional · Clinton Township, MI · Member since 2015 · 676 posts · 259 votes

2y

Quote from @Alan F.:

Quote from @Emily Fraser:

I am a newbie and just made my first purchase of a triplex two months ago. I was surprised to receive a cancellation notice of my insurance policy after they inspected the exterior of the property. They said that 15% of the exterior paint is not up to standard. I would like to repair the problem and retain the policy, but November does not seem like an ideal time to repaint a house in Ohio. Unfortunately, they only gave me until Dec 21 to show that the necessary repairs have been done. This doesn't seem likely.

Would you suggest repairing the problem if possible, or trying to get new coverage? When I reach out to new insurance companies, do I disclose that the previous policy was canceled? What if no one will insure it? I feel a bit frustrated and stressed that the company said they would insure me before I purchased and then canceled the policy right after I closed.

Thank you in advance for the advice.

Do yourself a huge favor, find a good insurance broker. It's a game changer.

Two thumbs up to that. This is something that a good, caring, agent should be advising and helping you with.

Royal Oath Insurance Group4.9203 Reviews

Alan F.

Flipper/Rehabber · CA · Member since 2023 · 1k+ posts · 1k+ votes

2y

Quote from @Owen Rosen:

Quote from @Alan F.:

Quote from @Emily Fraser:

I am a newbie and just made my first purchase of a triplex two months ago. I was surprised to receive a cancellation notice of my insurance policy after they inspected the exterior of the property. They said that 15% of the exterior paint is not up to standard. I would like to repair the problem and retain the policy, but November does not seem like an ideal time to repaint a house in Ohio. Unfortunately, they only gave me until Dec 21 to show that the necessary repairs have been done. This doesn't seem likely.

Would you suggest repairing the problem if possible, or trying to get new coverage? When I reach out to new insurance companies, do I disclose that the previous policy was canceled? What if no one will insure it? I feel a bit frustrated and stressed that the company said they would insure me before I purchased and then canceled the policy right after I closed.

Thank you in advance for the advice.

Do yourself a huge favor, find a good insurance broker. It's a game changer.

Two thumbs up to that. This is something that a good, caring, agent should be advising and helping you with.

Absolutely, my brokers allegiance is to me, carriers allegiance is to carrier (and keeping their job lol)

0 Reply

Owen RosenBusiness Member

Professional · Clinton Township, MI · Member since 2015 · 676 posts · 259 votes

2y

As a broker...yep!

Royal Oath Insurance Group4.9203 Reviews