1) A follow up to my post last week on credit card fraud: turns out it was good news and alarming news. The good news was that it was not fraud in that it was a charge for an annual renewal fee (VPN, as it ironically turns out) and was an expected charge (although apparently, forgotten by me).
The alarming part was that I had not updated my credit card with them, yet somehow they had the new number.
I went and did a screen of some other sites I use. Nope, all of them had the old credit card that was canceled because of the original fraud. Yet somehow, this company had the newly issued number that had been in existence for less than two weeks, if you count from the time it was issued and sent to me.
My gut tells me that somewhere in the terms of service there is a clause that somehow links the bank/credit account to that service. But still find it disturbing that the number just somehow "magically appeared" when I had not notified them of any change at all.
Deep trust of technology deepened.
2) Two weeks ago we experienced a severe hail storm in our area (naturally and once again, when I was away from New Home and at Old Home). Severe does not cover it: we had friends with broken windshields, broken home windows, and actual holes in their house.
And, of course, ruined roofs.
We did not have a contractor in mind (although they were literally making the rounds the day after) and finally just stumbled into one who seemed at least reputable on the InterWeb. They said we had damage - no surprise given the storm and even less of a surprise as the roof is at least 20 years old, and probably a bit older.
I filed the claim; the adjustor came by on Saturday.
The adjustor was a super nice guy and let me know up front that apparently there was a declaration on our policy that they would only pay replacement costs based on the current value of the roof - that is to say, the roof had likely depreciated beyond anything that had value. He would do what he could for us, but said that it was possible the insurance company would not pay at all.
The reimbursement offer came back that same day. I have no idea what roofs are going for now, but I am hopeful he estimated high to get us some kind of reimbursement: we got 12% of what the roof estimate was.
This is not an ideal situation.
The next step is to contact the roofing company and see what an acceptable roof will actually cost. Even at that, there will be some creative budgeting and belt tightening to manage it.
Two lessons:
1) Check your homeowner's insurance policy for a declaration on your roof and current value payment.
2) When you get your roof replaced, contact your home insurance company. Apparently they will update the policy to remove the declaration.
Our area had a severe hail storm back in 2022, finally had my roof replaced this past July and the reimbursement amount was pretty much the same as you. Have to check the policy for second nos. 1 and 2, thanks for the info TB.
ReplyDeleteI honestly feel lucky, Nylon12 - we got something, and apparently we could have received nothing. The adjustor did everything he could to make sure that we got the best outcome possible. Still, it is a little bit of a bitter pill.
DeleteI had read several months ago about the changes in insurance and how the companies can sometimes decide on their own that 'nah - not going to pay for complete repair'. I don't recall the agents speaking of those changes when they ask us to submit payment for new policy period.
ReplyDeleteThank you for the reminder. We need to do this as well, our current home insurer has been the same for nearly 25 years.
Honestly, I have not dealt with an agent in years as we get our directly from the company. The reality is that I am sure the language is in there; I would also not likely know where specifically to look.
DeleteI am going to walk through my parents' policy as well. Perhaps there is something that can be done about the roof leak that we experienced last year.
Gee, I step away from a computer for a few days and this happens! I've heard of that happening more often with new credit cards, specifically with one bank. I'm not quite clear if it is a bank thing or the account you are paying with the card. I've not had that happen yet and have to go through the process of updating my CC info on numerous sights that I forgot about until the emails and texts start arriving.
ReplyDeleteI imagine insurance covering the replacement value of a roof in hail prone country would be extremely expensive so you are probably money ahead of paying 12% of a new roof after 20 years without incident.
Ed, you are the one thing standing between us and disaster.
DeleteAs the update does not seem to happen everywhere, I have to assume it is a link with that company. On the bright side, if the do not update it is a fine reason to go through and question whether I need things from that site.
I am truly grateful we got any money at all. I have put out the request to the roofing company; I will see what they will come up with. Likely not the Cadillac of roofs, but at this point we do not need a Cadillac. A 20 year would be fine.
Having recently had to deal with an insurance company after a drunk driver ploughed through our front yard at 70MPH, I feel your pain. The guy sheared off, at the ground, half of a 75ft stand of 40-year-old hedgerow which stood about eight feet tall. The company decided it would only pay for the actual trees that were taken out, and that with knee high saplings. So, I was on the hook for taking out the rest and replanting. Otherwise the new stuff would never have matched the remaining trees within my remaining lifetime. I'll consider us even if that "adjuster" ends up on the other end of the line from an "adjuster" with her self-same attitude. Karm's a bitch. So was this broad!
ReplyDeleteI had someone try to charge over $2K on my credit card a few years back. The bank covered it, cancelled the card, and issued a new card with a new number. About two years later, someone charged over $150.00 at a burger joint... on the same card the bank said it cancelled two years before... 'Been there... Done that...
Oh good gravy Pete, that sounds awful. Fortunately for us, we have always had good adjusters but I have heard stories.
DeleteThat is surprising that the number was active after two years. Seems maybe the bank failed to "close" that account. Although there are so many numbers, I am not surprised it does not happen more often.
There is something very strange indeed going on with your financial dealings TB, and it will be very interesting to hear how this happened. Surely the bank will have to advise you of this ?
ReplyDeleteDang insurance companies. Necessary evil. When you need it you NEED it. I cannot abide that sort of sneaky depreciation. I have to fight with my current insurer every time I renew my boat insurance for my trailer sailer. They keep lowering the insured valued as though it was a car, while slowly raising the premium.
We renovated our home 18 months ago, including replacing the roof with colourbond steel. Massive hail storm smashed our city a couple of months ago, and we've just had the brand new roof replaced under insurance. I didn't realise there are different grades of Colourbond steel - be sure to investigate they aren't using a cheaper grade on you - and get an independent inspection before you sign off. The team that installed our original roof worked steadily, methodically and didn't seem to be in a rush. The clowns that replaced the new roof were rushing, actually damaged the house cladding throwing the sheets off the roof, and the insurance assessor made them come back & fix a couple of areas. They didn't install gutter guard either - still trying to get that resolved. Grrrr !
Honestly, the insurance is not something I have paid attention to as I ought to have - that, however, has to change. We have had good luck with our insurance company to date. The declaration was there; it was my fault for not knowing.
DeleteYes, an education on roofing materials is soon in order. I would like to think that people do a good job to do a good job, but I should not be surprised that in this economy people are rushing to get to the next paying gig. I have contact the company that stopped by and will see what they can recommend.
To your point on the bank, I should likely call and ask the question - I really do not think we were informed.
Call around for several roof estimates. And try to be sure they are local, or at least in state. Licensed and insured by the state would be a plus.
ReplyDeleteGlad it wasn't worse.
You all be safe and God bless.
Linda, we are extremely grateful as well. We had many friends and acquaintances with much worse outcomes.
DeleteLocal is a must, as is licensed and insured. I am waiting to see what this company comes back with; if it is too much I am happy to ask for other options.
I just paid 24K for a new roof this summer on my 1400 soft ranch in WI. Had several quotes, this was in line with the others (roof was worn out after 25 years).
ReplyDeleteFor many years I have been with a particular national insurance company for home and auto, and have always been pleased with their coverage (name upon request). My particular home policy has a clause that covers full replacement cost of things like a roof , not prorated. Costs a bit more, but not that much, and paid for itself several times on a previous house.
NM, that is my fear as well (although our initial one was not that much). And with all the damage here, I am sure the market is more.
DeleteThe name would be welcome, as we have a "national" carrier as well - tbeucail@protonmail.com. Thank you!