If your house was built before 1975, more likely than not, you've got a cast iron
pipes plumbing system. When that plumbing system was originally installed, it had
the capacity to handle all of the sewage and water that comes out of your house.
Unfortunately, over time, those pipes begin to corrode and they begin to leak
underneath the house, usually. And they're unable to handle the volume they once
did. This results in backups into the house
or leaking behind walls or under the floors. If that's happening in your house,
let me look at your insurance policy and let me have our plumbing team come out
and inspect your plumbing system. You see, your homeowners insurance policy
probably has a clause in it that requires the insurance company to tear
out and replace the plumbing system in the event that it is corroded and
causing backups. Even if it's a small backup, we've been successful. Where
there's been a small backup into the bathroom and then that's reported to the
insurance, your insurance company. And the insurance company then is required to
tear out the old system and then put your house back together afterwards and
pay the costs for that. That's a very valuable protection that you've bought
for your family. The failure to do that now, let's say you're having problems and
you just ignore it. The problem is when you go to sell your
house, the broker for the buyer, and the mortgage company for the buyer, they all
know that these old plumbing systems need to be replaced and they use that
against the seller. And they try to get the price or they can, try to get
the price negotiated down for the cost of replacing the plumbing system. In that
circumstance, you may have to pay for that cost, but right now your insurance
company owes it. Another thing that's happening is insurance companies are
removing this coverage because as the pipes age, they know the problems and the
cost involved and they don't want to pay for it anymore.
And so, we're seeing insurance companies remove that very valuable coverage. As
long as there's been a water leak or a loss before that language gets changed,
we'll be able to help you. And just so you know, some of the fixes that they've
tried to implement at this point have not been successful. We've been very
successful in going into court and having some of their attempted changes
rejected. For instance, if your insurance company says that the most they have to
pay for a water loss is $10,000. And yet,now you know the
plumbing system is going to have to come out and that may cost $50, $60, $70,000
or more. The insurance company may have told you, well the most they
have to pay is $10,000. We've been very successful in getting
that defeated, because that $10,000
water damage liability endorsement on your policy does not
apply to the cost of tearing out and replacing the portions of the building
necessary to access the plumbing system. So, if that's happened to you, your
insurance company said the most you can get is $10,000, let us look
at your insurance policy and your claim for free. If the insurance company is
doing the wrong thing, we'll let you know. Morgan & Morgan,
For The People.
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