Good advice, but I find it far more likely that foundations and other property are covered, but the values have been excluded in the appraisals.
Just as insured’s don’t take the time to read their policies, underwriters don’t take the time to check the values, much less review the details of appraisals.
If an underwriter asks for appraisal, just put the number you want on the cover sheet and staple some pdf print outs of photos, a copy of some sheets from the asset register, and the market value appraisal from when the property was purchased. If it’s over 10 pages they won’t read it and you’ll get the coinsurance waived.
Good advice, but I find it far more likely that foundations and other property are covered, but the values have been excluded in the appraisals.
Just as insured’s don’t take the time to read their policies, underwriters don’t take the time to check the values, much less review the details of appraisals.
If an underwriter asks for appraisal, just put the number you want on the cover sheet and staple some pdf print outs of photos, a copy of some sheets from the asset register, and the market value appraisal from when the property was purchased. If it’s over 10 pages they won’t read it and you’ll get the coinsurance waived.