and yet MORE bad news
We had our homeowner's association meeting last night. There is going to be a special assessment of $500 for damages from hurricane Wilma. That is actually better than I expected so I am ok with that.
The bad news is that we may be dropped by our current insurance carrier. They are claiming that since the second floor of our townhouses are frame that we should be classified as frame. The entire first floor and foundation is concrete block. So the association is hiring and engineer and architect to try to fight this determination. If we are dropped then we have to go with Citizens (the only company that will insure in florida). And they can charge us the highest possible rate allowed by the state plus an 11% surcharge that they are chargin all policy holders. This would DRAMATICALLY increase our monthly fees which are already almost 300 a month.
If we get dropped and our fees go up up 200 a month we can forget about getting anyone to buy this place. Noone could afford the fees. We should find out sometime in March as to what the outcome of this will be. SO we may just be staying put and trying to scrape some money together in order to fix this damn place up.
I can honestly say that life is sucking bigtime right now.
The bad news is that we may be dropped by our current insurance carrier. They are claiming that since the second floor of our townhouses are frame that we should be classified as frame. The entire first floor and foundation is concrete block. So the association is hiring and engineer and architect to try to fight this determination. If we are dropped then we have to go with Citizens (the only company that will insure in florida). And they can charge us the highest possible rate allowed by the state plus an 11% surcharge that they are chargin all policy holders. This would DRAMATICALLY increase our monthly fees which are already almost 300 a month.
If we get dropped and our fees go up up 200 a month we can forget about getting anyone to buy this place. Noone could afford the fees. We should find out sometime in March as to what the outcome of this will be. SO we may just be staying put and trying to scrape some money together in order to fix this damn place up.
I can honestly say that life is sucking bigtime right now.
Posted by Jeanne at 2:34 PM::
--------------------oOo--------------------
5 Comments:
Ugh! One of these days something fabulous is going to happen to you, I just know it. Keep your chin up.
I'm really sorry to hear this, babe. I know you're feeling down but try not to let it drag you under!
That sucks, double sucks, and triple sucks. I hate insurance companies. HATE.
Well at least its not as bad as you thought!
I'm giving the finger right now to your insurance company.
Post a Comment
<< Home