Property Information Statements

[bjones5]

Originally Posted by jbettencourt

Bill ,

I am sorry to hear about this, would you like me to get some of my Hamilton North End buddies together and go discuss the issue with these people! Cheaper than legal fees and the problem disappears (oops did I say that out loud!)

I usta live for a brief time in Hamilton, right near main and King I think........usta know some "gentlemen" that ride steel horses, mebbe they can help too.

[Bill Mullen]

Originally Posted by mkyriacou

Sorry about what happened Bill. I have to tell you my friend, I would have put on a good fight before I caved in, on principle alone!

Mario:

We were in court twice on various motions, etc. I fought hard but it doesn't take long sometimes to see which way the judicial wind is blowing.

Bill Mullen

[Bill Mullen]

Originally Posted by bjones5

I usta live for a brief time in Hamilton, right near main and King I think........usta know some "gentlemen" that ride steel horses, mebbe they can help too.

Thanks, Jerry. Next time I might just ask for help from your 'Angels'.

Bill Mullen

[jbettencourt]

Take care Bill and keep the attitude positive.

[Roy Horton]

Would something like this covered with E/O insurance? Starting out as i am in this field, it's good to know any pitfalls or potential concerns.

[Roy D. Cooke, Sr]

Originally Posted by rhorton

Would something like this covered with E/O insurance? Starting out as i am in this field, it's good to know any pitfalls or potential concerns.

Now lets use some logic .
E&0 insurance cost is $4,000;00 and you have a deductible of $5,000;00 . So you make a claim and you pay the first $5,000;00 and they pay $2,000;00 and raise your rates for the next three years because you had a claim .
Now would you pay now or pay more later?
I would do like I would do with a small car accident pay the price and evade the increase in rates or the possible cancellation of my insurance.
...Cookie

[Bill Mullen]

Originally Posted by rcooke

Now lets use some logic .
E&0 insurance cost is $4,000;00 and you have a deductible of $5,000;00 . So you make a claim and you pay the first $5,000;00 and they pay $2,000;00 and raise your rates for the next three years because you had a claim .
Now would you pay now or pay more later?
I would do like I would do with a small car accident pay the price and evade the increase in rates or the possible cancellation of my insurance.
...Cookie

I agree with Roy on this.

Had the insurance company settled for the same amount of $ 7,000., my rates would have gone way up for three years, and I would have had to pay the $ 2,500. deductible regardless. I would likely be at least $ 10,000. behind and we would have a scar on our insurance record. This was paid from a tidy little fund I have for myself and my employees.

Bill Mullen

[Mario A. Kyriacou, CHI]

Originally Posted by bjones5

I usta live for a brief time in Hamilton, right near main and King I think........usta know some "gentlemen" that ride steel horses, mebbe they can help too.

You mean the "Iron Horses" Brian!

[bjones5]

Originally Posted by mkyriacou

You mean the "Iron Horses" Brian!

Naw Mario.......... I waz referrin to a song by George Strait called Steel Horses. Besides Steel horses sounded so much politer and purtier than sayin "they waz ridin hogs" see my point?

[Roy Horton]

Thanks for the info, this E/O insurance thing as i suspected is like car insurance you have to have, it but in the event of a fender bender it's easier to just bite the bullet and pay out yourself and avoid the hassle of increased rates.

[Raymond E. Wand]

Bill

There is always the possibility the insurer would not renew your policy if you had filed a claim.

Cheers,

[Bill Mullen]

Originally Posted by Raymond E. Wand

Bill

There is always the possibility the insurer would not renew your policy if you had filed a claim.

Cheers,

That too. We do a lot of relocation inspections and those companies require that we carry E & O. That would cost us between 100 and 150 inspections a year.

Bill Mullen

[Raymond E. Wand]

Bill

Is something like this a business deduction/write off at tax time?

[Bill Mullen]

Originally Posted by Raymond E. Wand

Bill

Is something like this a business deduction/write off at tax time?

I think so, but I haven't checked with my accountant. You would hope that something that is clearly a 'business expense' would qualify.

Bill Mullen

[Raymond E. Wand]

Well I know that E&O premiums are deductible as a business expense, so maybe you might get some benefit from it, if you want to look at it as a benefit.