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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]So hold on - this family is literally f#cked because their neighbor committed a crime? What if they owe $500K on their mortgage? They now have half of a worthless property that will sell for peanuts. If my neighbor sets his house on fire and in the process burns down my house (live in a townhouse), am I essentially screwed and my insurance won't cover ANYTHING?[/quote] I didn't think this was how insurance worked. Yes, if I burn down MY house in purpose I can't collect..but if I burn down my neighbors house that is different. Burning down my own house ans attempting to collect is insurance fraud. Burning down my neighbors house with them having no part in the crime is NOT insurance fraud and therfore I dont see why they can't collect. [/quote] Say you and your neighbor decide to burn down each other's houses. Now what?[/quote] Well, setting fire to each other's house - even via an agreement - is a crime (arson). And, actually, the agreement itself is a separate crime (conspiracy, maybe RICO). So insurance wouldn't payout to either party. [b]It's not clear to me that this family will get anything from their home owners' insurance. Someone else committed a crime that resulted in the destruction of their home. It's the same logic where insurers don't pay out to a policy owner after a riot - a crime was committed that resulted in the destruction of insured property. That lets home owners insurance off the hook. [/b] I hope this family has hired a good lawyer and claims adjuster to deal with the insurance company. [/quote] I wonder if the family is going to be stuck in civil lawsuits with the guy's estate trying to get the money their insurance company denies them. What a mess.[/quote] Or anyone else who may have a lien on the property of the deceased. If he had a mortgage, that lender would be first in line to make a claim for the title of the land.[/quote]
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