Insurance company questions to home buyer

[Joseph D. Skrypka]

I'm accustomed to insurance companies asking clients if the house they are buying has knob and tube wiring, 60 amp service, galvanized steel water supply pipes, an old oil tank etc.

However, I was surprized to hear from a client this week that his insurance company asked if their new house had a poured concrete foundation wall or a concrete block foundation wall.

Has anyone else come across this? And what would be their motivation to ask? (Hollow channels allowing water to migrate through the wall and leaking in a spot that is displaced from the origin of the leak?)

[Scott Gilligan, CMI]

Partly it has to do with the way they classify the construction in order to insure it. They like to know a lot more information than that most of the time. I do a fair amount of inspections for insurance companies and some of the stuff they want to know is pretty detailed. When insurance companies are renewing or writing a new policy for commercial properties, it can sometimes be a pretty involved inspection.

Insurance companies are getting a little more prudent on what they insure and what they will charge for the premium. They want to know what they are getting themselves into just like anyone else.

[wblakey]

Poured concrete generally lasts longer and has less problems than concrete block foundations. Seems a reasonable request.

[tneyedli1]

Originally Posted by jskrypka

I'm accustomed to insurance companies asking clients if the house they are buying has knob and tube wiring, 60 amp service, galvanized steel water supply pipes, an old oil tank etc.

However, I was surprized to hear from a client this week that his insurance company asked if their new house had a poured concrete foundation wall or a concrete block foundation wall.

Has anyone else come across this? And what would be their motivation to ask? (Hollow channels allowing water to migrate through the wall and leaking in a spot that is displaced from the origin of the leak?)

Be also advised that they will want/require/demand to know the type and condition of foundations if there are more than one type being used.
The insurance co. are starting to take a harder look at the old "wood pier" type especially for rural structures.
T.Neyedli
www.alphahomeinspections.ca