Family cottage burnt down - need advice

So sorry to hear, I had my farm house burn down some 35 years ago and Longshank is right about it's not fun. My best advice to you is, always keep notes of dates, times and the person's name you are speaking with, followed by comments. Document everything, Ask questions, Check your policy, know your limits, KEEP NOTES. The amount my insurance company offered me as a settlement was so small I ended up suing them, winning my full amount of the coverage plus all lawyer expenses and my expenses for travel. My claim was settled on an out of court settlement.

Sorry for your lost. There’s some good advice by board members have given to you. You have a lot of work ahead of you, on to know what you had, and replacement value on today’s prices for items lost, and rebuilt structure if you go that route. I also suggest before dealing with the insurance company and agent, you get a log book to write notes like time, dates, what was spoken in conversation for your memory, and if it has to go in front of the court, it refreshes your memory. Don’t rush in getting the first cheque they offer, and decided among yourself(family members) also on one party to hand this matter with the insurance company agent, and conversion, so there’s no confusion on both sides of saying that so and so said this, l was told this, amount told was this, family members agreed on this replacement cost, repair value etc.... Hope this little suggestion help.

i lost a house up north 2000 insurance was pretty good about things, but did say to rebuild or take a big loss, but your insurance may differ as they all have there own rules ect. As someone already stated, have one family member deal with the insurance, after you have gone over everything that way there is no he said she said Sorry for the loss hopefully you won't have a hard time with them, but do mind your pees and q's Good luck it's a long ride, keep your head up

Sorry to hear about this.....I hope everything goes fairly straight forward for you.

My friend lost his workshop/barn a few years ago and took his time dealing with the insurance agent/company. He made a list of everything that he could remember was in the building, but months later he remember some other items. Because it wasn't closed yet he got to add those items to his claim. DON'T rush through it.

There are a ton of people looking for good lots up that way to build on, especially speculators that will pay a fair dollar for the property. You are going to tie up a lot of time applying for permits and all of the prep work that goes into rebuilding. Remember that what you build and think others will like, may not be the case and you could limit your buyers. If you know a good realtor up that way, touch base with them so that you know the proper market value for the lot and pick their brain about rebuilding.

I hope you can rebuild and keep it in the family. We have had our place for 60 years down in Dorset and I can't imagine not having it after having grown up there.

Good luck with everything.

Thanks MasterCaster.

Definitely going to be a lot of work. I appreciate the advice.

Thanks OnTheHook,

We're just starting to compile our list of items now.

As with many cottages, there are were so many things hiding in back closets, under beds, etc. We're really going to have to take our time determining what was lost. Appreciate the advice.

Can't thank everyone enough for all of the advice, and I know my family appreciates it too.

Thanks to all for the support and please keep the comments coming.

I'll keep everyone updated with our progress.

Thanks again,
FF17

What a pity about the cottage, but a blessing with respect to your brother getting out unharmed.
Good luck with the insurance company.
All I got to offer is document everything. Keep a log of every phone call (date, time, name of person, details of conversation), email, and document. If things go sideways you have a concise timeline which will be invaluable. I completely agree with Mydogbites.

Another vote for the "document everything" crowd... the person on the other end will be taking notes, and you don't know what they do or do not write down vs what was said.

My last claim I followed up every phone call with an email stating what was said and agreed to asking for a rebuttal if the person didn't agree. It came in handy a couple of times.

How this goes for you is hugely determined by your agent and the company. I've had a few claims, some easy, most fighting for everything. In my experience agents work for the insurance companies - obviously they believe in the product and guess who pays them? So don't take everything they tell you at face value. It's a good time to have another agent review your policy and act as a sounding board for you... remember that everyone you deal with is in it to save or make money... all done so at your expense.

We had minor wind damage - nothing in comparison, so sorry for your families loss - and the insurance company actually wanted to go far above the needed repairs. A full new roof when it only needed 4 bundles of shingles replaced. Rebuild an entire outbuilding wall when it had simply shifted 3" and was fixed with a tractor, chain and through bolt. They had a $75k claim ready, I fixed it all myself for less than the deductible. The preferred contractors and insurance companies run a racket. Massively inflated costs. Get competitive quotes, get as much as you can out of the replacement value.

Being remote make sure the policy includes a builder to manage the project (you'll still be busy enough); replacement cost should include the cost of the building process, not just the materials - labor, contractor, permits, clean up, disposal, etc.

Unlike some advice, hopefully you have contacted your agent. Do not wait to "get your ducks in a row"... many policies have notice clauses where if the claim isn't opened quickly the max payout drops significantly (in auto, mine at least, only allows 48hrs for reporting before the payout tops out at a measly $5k). I even found out the hard way, again in auto, that medical and property claims are distinct.... I opened the property claim right away, waited a few days to see if I had any lingering injuries, but the window to open a medical claim had passed (which put all medical, incl ambulatory costs, as out of pocket).

You may hear of some god stories, but I'm a firm believer that when dealing with insurance you're dealing with organizations a marginal step above mafia and biker gangs as far as ethics and being forthcoming, protect yourself accordingly.

Sorry to hear about the loss..but very glad to hear no one was hurt. Houses can be repaired...people can't be.

My two cents...Some great advice for sure, but everyones experience is going to be entirely different. Different people, different properties, different companies.

One member was mentioning Replacement Cost on your Contents earlier. This does exist, but not on all policies. Some are on an Actual Cash Value basis which factors in age and condition, so the adjusters can apply depreciation. Example - 20 year old stove burns up - Adjuster would like get a quote on a new model, then apply 40-50% depreciation to the value.
With Replacement Cost coverage you simply replace with a new model of similar kind and quality without depreciation applied. But, if you want a major upgrade, you will likely be kicking in some cash. (going from laminate counter tops unto granite)

Your Agent/Broker or Claims adjuster will talk you through how your particular policy will respond. You shouldn't have to stress about figuring it all out yourself before making the call to the company.

So my recommendation is to 100% call your agent/broker/company asap and take it from there. (Have your parents call if they are the policyholders...because they will be the only ones that are allowed to unless they give the adjuster permission to talk to you) but honestly, don't go into this with your back already up and looking for a fight or that is exactly what can happen. That goes for any business dealing in life, not only when dealing with an insurance company. It drives me nuts that some people paint all companies/insurance agents/brokers with the same brush assuming they will treat you poorly and the company will always try to weasel out of paying a claim. Yes, I know there are horror stories out there though...

If you're with a good, down to earth company with it's morals intact and they have any shred of integrity when it comes to their day to day, then they will do everything in their power to help you and make the process as smooth as possible, not make it more stressful than it already is. The claims process is when the rubber really hits the road in the insurance transaction...this is exactly what we all pay for.

And the comment above about being all Fenwick rods hinting that why may have been anything but? ... This grinds my gears. The principle behind insurance is to be Indemnified or put back into the same position you were in before the loss. Not to improve or make money off it.... This is exactly the attitude that fuels the world of Insurance Fraud and guess what? That's one of the main reasons all our rates climb every year. This is called Opportunistic Fraud.

The premiums of the many pay the losses of the few. But if the losses are inflated, then its going to take more premiums to keep paying them. Simple. It all comes back around.

Anyway...sorry for the rant. Can be a sensitive topic... I do hate hearing the nightmare stories that people have when dealing with certain companies...it shouldn't be like that either, but sometimes I wonder what the other sides' point of view looks like. I try to think of it the same as being pulled over by the police for something minor...If i'm a jerk to the officer, of course they will give me a hard time and maybe tack on the extra charge for window tint or something small, but if I'm kind and respectful I would hope that is how i'm treated in return and maybe even cut some slack.

Hopefully this may have shed some light on everything from a different perspective.

All the best and good luck. It will all work out fine in the end.

Cheers,

An Insurance Agent...lol.

This is fantastic advice, thank you!

We are trying to find as many contacts/friends in the insurance industry as we can. Just need people who aren't involved in the situation but have knowledge of the process. We're definitely not out to profit on this...at the end of the day i think its going to be tough just to account for everything that was lost - from a flat screen tv down to the line on my reels..

Thanks very much for sharing your experience.

My dad reached out to our agent while the fire crews were still there and he's already talked to the adjuster who seems to be very helpful. We're hoping it's a smooth process but it really helps to be aware of where things can go sideways.

Thanks again!

Hi fishfinder, so sorry about the loss. I am an Insurance Broker. Unfortunately these types catastrophic losses will take some time to close. My advice is contact your broker or agent and insurer and get a claim opened up. Ask your broker about the terms and conditions of your policy and the basis of claims settlement. Most policies will offer guaranteed replacement cost on the building however depending on which type of coverage form you have, some seasonal property policies don’t always offer GRC. For your contents the basis of settement could be the actual cash value (depreciated value) at the time of the loss unless you have a replacement cost endorsement for contents. You will have to work with your claims adjuster and hopefully your broker/agent has your adequately covered. I can’t really comment any further without seeing the policy. If you have any questions feel free to PM me.