Rental Property Insurance
I have home insurance coverage on the structure of a rental home. At this time, I was getting ready to move into it when I noticed that the ceiling and structure is failing. Outside, the bricks are split from what looks like settling. I'm not sure if I should file a claim or if it will even cover the amount of damage, because it looks bad. Can you give me advice on this please?
This is a tough one. However, it all depends on your policy on your rental property. If the insurance policy covers settling and structural damage as a result of settling, you should be able to file a claim and at least recover some amount (if not all) of your costs. Having said that, a basic homeowners policy will not generally cover this kind of damage. So, check your policy first, and then call your insurance company for clarification, if you are unsure.