00:02 [Music]
00:14 welcome back everybody to the auto
00:16 accident attorneys podcast I'm your host
00:18 attorney
00:19 Ali the podcast as always is sponsored
00:22 by the auto accident attorneys group
00:24 where we take care of you today like
00:28 most days I've got my sister with me
00:31 attorney Holly Cole hello and again we
00:36 have our favorite return in-house guest
00:40 attorney Rishi patney thanks so much for
00:43 having me absolutely it's good to be
00:44 back I love having you guys I wanted to
00:48 even though this is an auto accident
00:50 podcast we do deal with insurance
00:54 generally and because the theme of the
00:57 podcast is consumer facing and helping
01:00 take care of people with information
01:03 through the podcast I wanted to today
01:05 talk about insurance but on instead of
01:08 the auto side the homeowner side and the
01:10 reason for that is I got a call from the
01:15 office from Jamie that our roof was
01:18 coming
01:20 down and it turns out that my older
01:23 daughter meline had started to draw a
01:27 bath in the master bathroom and it was
01:30 taking so long to fill the tub up that
01:32 she wanted to go lay down and and take a
01:34 nap or rest she didn't mean to take a
01:35 nap she wanted to rest so she went to go
01:37 lay down and fell asleep for about 90
01:41 minutes or so oh my God and Jamie just
01:44 heard what sounded like rain coming from
01:45 the garage so when she went to the
01:47 garage oh wow she saw the ceiling coming
01:51 down water flooding the entire garage
01:54 her car was soaked and uh she ran
01:57 upstairs and the entire m master bath
02:01 was flooded so man I found myself in the
02:05 situation where I needed to rely on
02:07 insurance and I'm always out here proz
02:10 oh you don't know anything about your
02:12 auto insurance I realized I don't know
02:14 if my homeowner's insurance covers this
02:17 yeah so I thought homeowners insurance
02:18 would be a great topic uh selfishly for
02:21 me to talk about so that I might be able
02:24 to learn a couple things today I
02:26 remember Holly you had a similar
02:28 situation when you were living in
02:29 Midtown and your condo I did my I woke
02:33 up the morning after a birthday
02:36 celebration for myself so I wasn't
02:37 feeling too hot and I just hear like
02:40 this pouring water a similar sound and I
02:42 was like what does that sound and I go
02:44 into the kitchen and it's just like a
02:47 waterfall coming out of the island where
02:49 my sink and dishwasher were housed and
02:52 it was just nonstop and I'm trying with
02:55 buckets to get it to like you know I
02:57 don't think I knew that it was coming
02:58 out of the sink yeah I mean it was
03:00 coming out of every like orice of that
03:04 island and uh and you're hung over
03:06 dealing with it and I was hung over and
03:08 I the entire condo flooded a good three
03:12 in I would say all my furniture was
03:15 damaged it started to leak out into the
03:18 like common area so and our the hallways
03:20 of that Condo building were carpeted so
03:23 of course the immediate concern is mold
03:25 and how it affects other units and do
03:28 you have units below you I had units
03:30 below I was on the eighth floor so I was
03:32 sandwiched between oh wow um and this is
03:35 like a 20 story building and um turns
03:38 out I didn't have homeowners insurance
03:41 somehow when we were getting the
03:43 mortgage it slipped through the cracks
03:46 did you not have homeowners insurance or
03:48 did you have homeowners insurance and
03:50 the coverage didn't apply because it the
03:52 cause came out from no it was no
03:54 homeowners insurance oh that's someone
03:57 screwed up someone screwed up on the
03:59 mortgage l side that's crazy yeah that's
04:02 like a like a Porsche dealership letting
04:05 you drive off financing the vehicle M
04:08 with no Gap coverage MH that's insane I
04:12 didn't I don't think I remembered that
04:13 yeah so I was out of that unit for at
04:16 least a month and we had to come out of
04:18 pocket to pay for that and in that
04:20 moment I realized how important
04:23 insurance is all right so if you're
04:25 listening well it's a pretty rare
04:27 occurrence because part of the closing
04:29 you know what what the lenders
04:30 absolutely require is that you have a
04:33 homeowner's policy in place with you
04:35 know a certain reputable company and
04:38 it's got to meet certain standards and
04:39 you have to have certain you know kind
04:41 of minimum coverage uh to make sure that
04:43 they because your your home is actually
04:45 the security for for the loan right the
04:47 mortgage so they would they in you know
04:50 they absolutely insist that that you
04:52 know they not only do you have a policy
04:55 but that the mortgage like the lender
04:58 also be named on the policy so that you
05:00 know when they send you like a you know
05:02 property damage check uh it has to go
05:05 through you know it's it's made out to
05:07 you the homeowner as well as your
05:09 mortgage company yeah 100% And I
05:11 realized that after the fact I'd never
05:14 thought about those things and then I
05:16 was like there's some somebody messed up
05:19 big
05:19 time was it was this back in the days
05:22 when uh when when they were you know
05:24 going through loans so fast they you
05:26 know they basically have those Robo
05:28 signs um not then it was uh
05:32 2013 I believe when I purchased the
05:34 condo okay so that was after the
05:36 subprime yeah but Rei's right it's it's
05:38 technically that you were living in it
05:40 but it was the bank's condo right it's
05:42 their money that that they need to
05:43 protect so it's wild that they weren't
05:45 running audits to make sure that their
05:47 asset was protected right they do that
05:50 with with this building actually when
05:52 it's coming up for Renewal I don't even
05:54 have to remember cuz my bank will send a
05:57 notice like hey if you don't renew it
05:59 we're going to put in Insurance in place
06:01 and there's a premium for it yeah at
06:03 least there's coverage well and and a
06:04 lot of lenders they actually they just
06:06 to make sure you don't accidentally Laps
06:08 on your policy or forget to make a
06:10 premium payment um they'll they'll
06:12 actually make sure that you know a part
06:15 of your mortgage payment goes into an
06:16 escrow account and then they pay the
06:18 premium for you just to make sure that
06:19 there's no laps like that I'm also
06:22 familiar with that U my bank just
06:24 overcharge me uh they tried to tell me
06:26 that my property insurance or my
06:28 property tax went up to
06:31 $52,000 oh wow and it's actually
06:34 $8,600 but someone again mes maybe it's
06:38 me someone keeps messing up when it
06:41 comes to my
06:42 finances common denominator is you it is
06:45 me but it's not me actually screwing up
06:48 it's just some energy I must be putting
06:50 off but yeah they tried to it it all had
06:52 to do with the escrow and it reminded me
06:56 of the fact that I do have homeowners
06:58 insurance because I pay into SC every
07:00 month to pay for that coverage did they
07:03 ever fix that by the way they did okay
07:06 so did you get the money back that they
07:08 not all the money but we can get into
07:10 that later real quick side note I think
07:12 this is helpful for listener so you're
07:15 careful about what you're doing with
07:17 your own
07:18 finances the mistake was on the bank
07:20 side and they because your mortgage is
07:24 set up on an automatic
07:25 draft it was what 5x what it was
07:28 supposed to be they just went ahead and
07:30 took the money out of your account yeah
07:32 that's the craziest thing so the money's
07:34 gone it's their mistake but you don't
07:37 have the money until they fix their own
07:38 mistake yeah and by the way 14 business
07:41 days to fix to refund their mistake
07:45 that's not even including the process it
07:47 takes to send it up top to make sure we
07:50 could do another episode on that when we
07:52 learn some things that we could actually
07:54 share so I I think this is perfect
07:57 because I remember Rishi you actually
07:59 the I remember it is because you got
08:01 attorney's fees yeah out of it but you
08:04 had a homeowner's issue that you
08:06 represented a client on just a couple
08:07 weeks ago yeah it was actually helping
08:10 out a neighbor of mine um and it was a
08:12 it was a roof damage claim um his his
08:15 roof was damaged by hail and um and his
08:18 insurer um you know he he had a roofer
08:22 that told you know had the roof
08:23 inspected found you know several spots
08:26 where you know there's very clear hail
08:28 damage um and so so when they the the
08:32 roofer created an NE like a repair
08:33 estimate they sent it off to his
08:35 insurance company um and the insurance
08:37 company's response was no there's no
08:40 hail damage it it's all wear and tear uh
08:44 no sign of no actual signs of hail
08:46 damage um so they appealed it and they
08:49 they did a more detailed um you know I
08:52 guess a revised line item repair
08:54 estimate um and it same response they
08:58 said no there there's no there's there's
08:60 no heal damage um but then they asked
09:02 for an engineer to come out so they they
09:05 they had their own engineer come out
09:07 inspect it and um this was this was
09:11 right around the time that I got
09:12 involved in the case and um and I'd said
09:15 a letter of rep to to his insurer and
09:18 basically laid out why um it was such a
09:21 ridiculous position um and so then they
09:24 came back and said we we've revised our
09:26 analysis and said that um there there
09:29 ishal damage but there's only hail
09:31 damage to like SE six or seven tiles and
09:34 so we're only going to cover you know
09:36 about 15 square feet of roof as opposed
09:39 to the entire roof and uh it's amazing
09:42 how uh focused the sky can be right
09:46 exactly it only hit th those few spots
09:49 and it wasn't enough to to Warrant a
09:51 roof replacement so then we ended up
09:53 getting in an engineer like a forensic
09:55 engineer out of Colorado to come in Oh
09:57 my he inspected the roof um and he
10:00 actually does this for a living he he
10:02 actually used to do it for the insurance
10:04 companies um and he was in house an
10:06 inspector um and so he so he knows
10:09 exactly what they're looking for in
10:10 terms of um you know what would be their
10:13 justification he photographed it
10:15 documented it and had an entire report
10:17 and so we sent that with a final demand
10:20 um that was above what the roofers
10:22 estimate was they initially denied it
10:24 and they fought back and so we said okay
10:26 well I mean you know that's bad faith um
10:29 you know on the on the coverage side
10:31 they had absolutely no basis to to
10:34 continue to refuse the fact that there
10:35 was hail damage and it was you know
10:37 enough hail damage to Warrant
10:39 replacement of the entire roof and uh
10:42 and then we finally ended up settling
10:43 above the the am of the the roof damage
10:46 and we' got attorney fees and and
10:48 expenses I just want to point out that
10:51 clearly these people pay for homeowners
10:54 insurance this is what they have it for
10:57 and they had to go so far as hiring an
10:59 attorney
10:60 and getting a forensic roof inspector to
11:03 come out from
11:04 Colorado yeah to finally get the
11:06 insurance company yeah to pay for the
11:09 service that they're paying him to on a
11:11 monthly basis or I guess really annually
11:14 and the insurance company paid more on
11:16 that particular claim than had they just
11:18 done their job exactly and and that
11:21 that's that's really where um it's it's
11:24 a little bit you know this is where it's
11:25 a little bit unique when you are the
11:27 insured party it's it's called a first
11:29 part party claim the reason why it's
11:31 first party claim is it's between there
11:33 there you know your insurance you know
11:35 your insurance policy is a contractual
11:38 agreement between you the the policy
11:40 holder and your insurance company and so
11:43 that that contract you know when when
11:45 they violate it um and the claim is for
11:49 you as the the first party beneficiary
11:51 under that contract um you know it
11:54 automatically triggers the you know the
11:56 bad faith and the contractual breach and
11:58 all those things that um you know that
12:01 come up from from contracts class but
12:02 it's uh but it's all those classic
12:04 damages um it makes it a tough case
12:07 typically for for just a property damage
12:09 case but in this one it was so egregious
12:12 that because there was absolutely no
12:14 justification for this constant delay
12:16 other than they were hoping that at some
12:18 point the homeowner just gets tired of
12:20 fighting and just accepts you know what
12:23 you know what few scraps they wanted to
12:25 to throw his way um to resolve it and I
12:28 think that's worth noting is that you
12:30 know we don't have to say the name of
12:32 the insurance company But whichever
12:34 insurance company it is it's not if I
12:37 have to venture a guess it's not as if
12:40 this particular insured is the one that
12:43 they denied they're doing this they know
12:46 that if they get popped they're going to
12:47 have to pay more but it's still in their
12:50 best business interest imagine how many
12:52 claims they deny that people don't
12:56 pursue where it makes it financially
12:59 justifiable for them to be like okay we
13:02 can work in the possibility of of
13:05 getting popped one or two times but we
13:08 can if we deny a hundred and just pay
13:09 more on one right it's still financially
13:12 beneficial yeah well and what happens
13:15 when they you know when that's their
13:16 approach is that sometimes they stick
13:18 out like the sore thumb so um so in my
13:21 client's neighborhood um out of 151
13:24 homes um 65 of them had their roofs
13:28 replaced due to to hail damage um and
13:31 this one insur was the only outlier to
13:34 deny the existence of hail damage every
13:37 single 65 other homes in that
13:39 neighborhood within you know like like
13:41 literally within walking distance of of
13:43 my client's home all had their roofs
13:45 replaced um and and none of those other
13:48 insurers had any problems um accepting
13:51 that yes there's clearly roof damage
13:52 here it's within your policy and um and
13:55 we're going to cover the claim um they
13:58 you know they might they might fight on
13:60 you know the the amount of of of the
14:02 repair costs or the overall but but they
14:04 don't deny that you know the existence
14:06 of of the actual damage right so that
14:09 that's the part that's like clear as day
14:11 that you there's clear damage um and and
14:14 you you're getting it from your own
14:15 engineer you're getting it from the
14:17 roofer um and and you've got you know
14:19 photos you've got the actual um you know
14:23 it's it's very detailed way that they
14:24 describe like um sample areas of each
14:27 slope of the roof and they just flat out
14:30 denied what's clearly obvious from
14:32 pictures from descriptions what's so
14:35 impressive about insurance companies is
14:38 how much specialized knowledge they have
14:40 right they're doctors they're Engineers
14:43 that's exactly where I was going they're
14:45 making judgment calls
14:48 on structural damage to roofs these
14:51 adjusters are call making those judgment
14:53 calls and in another division in the
14:55 same company they've they've got
14:57 adjusters saying the way that that roof
14:59 damage was denied they've got people
15:01 with B suffered bodily injury saying oh
15:03 this treatment was unnecessary oh don't
15:06 get me started on health insurance well
15:08 we have a a mutual who was diagnosed
15:12 with cancer and had to have surgery a
15:14 very invasive surgery she had have her
15:17 tongue removed and replaced and skin
15:19 graphs and had to go through physical
15:21 therapy to learn how to use certain body
15:23 parts where they had to use take graphs
15:26 from and the insurance company said that
15:28 her Hospital the health insurance
15:30 company said that the hospital stay her
15:32 overnight stay was medically
15:36 unnecessary after this incredibly mind
15:40 you she was there for a week in the
15:43 hospital yeah and they're like ah you
15:44 should have been out after like a day
15:46 and it's insurance companies making this
15:48 call The Physician her her attending
15:50 physician her surgeon I'm assuming
15:53 likely recommended the stay absolutely
15:56 right it's not like she was asking to
15:58 stay yeah yeah
15:60 and I know that the insurance company is
16:02 going to frame it as if the attending
16:04 physicians are biased they're like well
16:06 yeah of course they want them to stay
16:07 because they get to earn money off of
16:10 the hospital stay but they're forgetting
16:12 the fact that this is It's medical
16:14 treatment right they're in such a better
16:17 position in reality yes there may be
16:19 some some theoretical you know truth to
16:23 that that bias but here's the reality
16:25 that attending physician is not you know
16:27 is also got to listen to his patient
16:29 there's no patient that just enjoys
16:31 staying in a hospital setting so much
16:33 that they just like I don't want to go
16:35 home get doct you please extend my stay
16:37 right you know it's it's not you know
16:40 it's not a five star resort it's not an
16:41 all-inclusive it's a it's not a vacation
16:44 it's it's a miserable place and people
16:45 want to get out of there as soon as
16:46 possible so even their patients are
16:48 pushing to get out of there I mean I
16:49 think the notion that um that that
16:52 Physicians and and hospitalists are um
16:55 are keeping patients longer than they
16:57 you know that they need um that the more
17:00 than medically necessary it I think it's
17:02 a ridiculous proposition I mean and it's
17:04 it's it's not only it's not only the
17:06 fact that the patients are push you back
17:08 but there's a need I mean in most places
17:12 thankfully Atlanta is not that bad but
17:14 when you get outside of Atlanta and you
17:16 get to rural places there's a desperate
17:18 need um for that space somebody else
17:21 needs that bed somebody else needs that
17:23 room somebody needs that ER space so the
17:26 the notion that the doctors are going to
17:27 just keep everybody else waiting while
17:29 they you know while while they
17:31 overcharge or or overuse um you the the
17:34 space for this one patient I think is
17:36 ridiculous they they're under tremendous
17:37 pressure to to keep people moving and as
17:39 soon as they're they're well enough and
17:41 ready to be discharged they get them out
17:42 of there y the premise is is ludicrous
17:45 they it's funnier to me how the
17:47 insurance Lobby has done such a great
17:49 job of playing the victim of course poor
17:53 us and and but they always they also
17:56 shift it because they know where the
17:57 pain point is like this this is coming
17:59 back to Tor reform now they're like oh
18:02 Georgia consumers and Georgia businesses
18:03 have to pay more like poor consumers
18:06 excuse my language who the [ __ ] is
18:08 charging them more exactly it's you and
18:12 they're publicly traded companies we can
18:14 see how much shareholder return you have
18:17 every quarter and CEO compensation that
18:19 has never gone the other way it's only
18:21 gone up um that's right by you know
18:24 several fold um you know and it it's
18:27 it's
18:28 constantly the the notion that a poor
18:31 little insurance company is fighting you
18:33 know it is up against this unmatched you
18:36 know this you know they can't fight
18:38 against this Behemoth that is the the
18:40 plaintiff's barns that that's ridiculous
18:43 right um they yeah that is really U it's
18:47 actually astounding that that's the the
18:50 the side that they take or the the
18:51 argument that they take my knee-jerk
18:53 reaction is to find out who the CEOs are
18:56 I'm just kidding there's a reason the
18:58 Luigi's of the world
18:60 exist on bringing it back to the
19:03 homeowners claims uh I think I'm in the
19:07 midst of the repair right now they're
19:09 going through the remediation they have
19:11 to take all the drywall out they took
19:13 the ceiling out obviously there's
19:14 insulation between so it's all
19:18 empty well you know uh water damage to
19:21 to your home it is it is crazy how
19:25 nuanced and how specific the policy gets
19:27 in terms of coverages right the one
19:29 thing that you don't have to worry about
19:31 is the the water um originated inside
19:33 your home and um and that's going to
19:36 almost always be covered right um but
19:39 the the real question um or or or the
19:42 the the real problem that that gives
19:44 homeowner sticker shock when they go to
19:46 file a claim on their homeowner's policy
19:49 is when water comes from the outside
19:51 because it really depends on what caused
19:53 that um is it uh is it basically um a
19:57 breakdown of the exterior barriers
19:59 that's allowing regular natural like
20:01 like rainwater or uh or is it a is it
20:05 like a flooding storm like you know is
20:07 is it due to storm water or is it
20:09 discharged from a neighboring property
20:11 but based on on each one of those
20:13 different stereos there may or may not
20:14 be coverage under under those depending
20:17 on various types of coverages that that
20:19 you have under a homeowners policy um
20:22 and I only know this because I've had
20:23 friend uh deal with um his neighbors
20:27 they changed something in their backyard
20:28 and changed the way the water was
20:30 flowing and so it was basically water
20:32 discharged from his neighbor's property
20:34 onto his property running up against the
20:36 side which finally gave way through the
20:38 vapor barrier um on on the I guess the
20:42 first like the basement level and um and
20:45 water was was there was water intrusion
20:47 at the basement level but they said that
20:50 that is because the water was not
20:52 originating off of his property it was
20:54 not natural water um on his property it
20:57 was actually water being discharged off
20:58 of his neighbor's property it wasn't CED
21:01 and they fought him like for a while wow
21:04 the funniest thing about insurance is if
21:08 you don't need it it's fine and you
21:10 think you're covered it's it's that
21:12 security blanket that false security
21:14 blanket like everything's okay the
21:16 moment something goes wrong is when you
21:18 really find out what you have it reminds
21:22 me of the people that are drive around
21:23 being like I've I've got full coverage
21:25 there's no such thing is full coverage
21:27 right what what do you you mean full
21:29 garbage we're laughing at it I'm sure
21:31 like somebody listening to this Mom hi
21:35 Mom she's like what mean I have full
21:38 coverage but there is no specific policy
21:40 there's all these different things that
21:42 will happen like uh if your car is out
21:45 of flooding flooding of a car it was in
21:49 North Carolina full coverage doesn't
21:51 necessarily cover that Collision
21:53 wouldn't necessarily cover that it would
21:56 have to be comprehensive coverage like
21:58 there's these very specific types of
21:60 coverage that apply when it comes to any
22:03 insurance whether it's Auto or home and
22:06 even then you have to read the fine
22:07 print because they will find their
22:09 exclusions oh yeah yeah to rishi's point
22:12 oh it's not all flooding well the the
22:15 the my favorite is um almost you see
22:17 this in almost all policies there are
22:20 certain things that we just can't
22:21 explain how it happened we're going to
22:22 call that act of God there you go right
22:25 um and that is open to some pretty wide
22:28 interpretation
22:29 um arguably you know depending on on
22:32 where you fall on the face Spectrum I
22:34 mean everything is an act of not at the
22:37 end of the day that's a good point re
22:39 actually never thought about car Rex
22:41 could be an act of God even though it's
22:42 due to the negligence of another
22:44 motorist oh my God reishi just gave the
22:45 insurance carriers another way
22:49 out what watch that come back and bite
22:51 me yeah I think that uh this is worth a
22:55 part two even like I said mostly this
22:58 was selfish for me to review some of the
22:60 homeowner stuff uh I want to see what
23:02 what I go through uh we had uh a water
23:06 remediation company I forget the name of
23:08 the company I was going to give them a
23:09 shout out Integrity all right shout out
23:12 Integrity um if you don't do well by me
23:14 I'm coming come back on part two and
23:15 blast you that but no they've been great
23:18 guys uh Shane is Shane or Shawn is from
23:23 Integrity young guy uh knows what he's
23:25 doing though this is pretty much all
23:27 he's been doing his entire life
23:29 uh but he's young he started right out
23:31 of high school uh they started the
23:33 remediation process and he's like this
23:35 will always get covered but I also have
23:37 a feeling that he's saying that this
23:39 will always get covered because it's
23:40 going to be within the deductible
23:41 anyways so he's like well yeah no we'll
23:44 always get paid on on the ration portion
23:46 sure but next week There's fans
23:50 everywhere in the house right now
23:51 drawing everything out next week our
23:54 insurance company is going to come out
23:56 we have Handover I actually do really
23:59 like Handover um there's not many
24:01 insurance companies that I like but I
24:03 like the people at Handover they they've
24:05 treated us well we've had a couple we
24:06 had a an electrical strike here at the
24:08 office they took care of us there sorry
24:10 I'm laughing I always have to throw in a
24:12 joke especially upon pun as soon as you
24:14 said Handover I just want to be like do
24:16 you think they're making money Handover
24:21 fist well played well played on thank
24:25 you I've seen our premiums yes yeah I
24:27 think they are
24:29 I think maybe that's why they don't mind
24:30 paying out on claims every two three
24:32 years they're swimming in the cash
24:34 they're like here you go well great
24:36 investors they they' they've got good
24:38 financials um I see you
24:41 Handover uh they're going to send an
24:43 adjuster out to check everything out so
24:45 the Reconstruction is going to be
24:47 another Spiel alog together so that's
24:50 what I want to do I just came up with
24:52 another one they're just coming to me
24:55 well don't set them up just say it I was
24:57 just going to say they're not in the
24:58 business of handovers no that's not as
25:00 good unlike auto insurance I don't have
25:03 much input to be like this is what you
25:05 need to look for it's I I think it's a
25:08 little bit different because it is so
25:10 varied with homeowner you know and
25:12 property policies um you know there's
25:15 the overall evaluation the value of the
25:18 property and that has to constantly be
25:20 updated based on the market value of
25:22 your home and and you know that affects
25:24 your premium but there are so many
25:26 different types of risks when when it
25:28 comes to home owners policy that I I
25:30 think it would be impossible to to I
25:32 mean you can cover the you know the
25:34 broad ones the ones that are most common
25:36 but you know depending on your locality
25:39 uh you're going to have completely
25:40 different I mean you know Florida
25:42 homeowners policies are totally
25:43 different here in fact some insurance
25:46 companies they've siloed off their
25:48 Florida um Underwriters and and
25:51 operations so that if there is ever like
25:55 catastrophic thing that that that that
25:57 would otherwise tank or would you know
25:59 really affect you know overall profits
26:02 for the for a whole company they can at
26:03 least limit that just to this one
26:05 Florida company to re she's point I
26:08 agree I homes are one of those things
26:11 where like down to the region you're
26:13 located it probably covers based on like
26:16 what what kind of structure your home is
26:18 built out of or how it's built I should
26:20 say materials used like Florida homes
26:22 are going to be much different than
26:24 homes in Georgia they're all going to be
26:25 on SS not all you know what I mean um
26:28 versus the weather in that particular
26:30 area whereas with automobiles or health
26:33 insurance for the most part you can kind
26:35 of uh predict what's going to be
26:38 necessary but I think with homes yeah
26:40 the rishi's point there's so much Nuance
26:44 geography matters yeah anecdotally I
26:46 heard about um some policies from the
26:49 Palisades
26:50 fires in California yeah that they had
26:53 not update because the your statement
26:56 just reminded me Rishi about updating
26:58 the value so these guys had Insurance in
27:02 place from the 80s and they never
27:04 updated the home's value so the
27:07 replacement cost of their home was based
27:09 off like the 1980s numbers yeah oh wow
27:12 yeah so I this is anecdotal so I haven't
27:15 actually now sound like President Trump
27:18 you know a lot of people have been
27:20 saying so I I don't know the facts
27:22 behind it but I can see that being an
27:24 issue where if you don't go back I I
27:27 actually I've got a 19 you've seen it
27:29 the the 78 Bronco that I have yeah um on
27:33 paper the market value of the 78 Bronco
27:36 is fairly low but it was like a classic
27:40 vehicle that I bought from an auction
27:41 site so I actually had to call in and
27:43 readjust I had to get oh man now I don't
27:46 remember the name of that insurance
27:47 company but they specifically do classic
27:49 cars so I went and I readjusted the
27:52 replacement value of the car based on it
27:55 being a classic 78 as opposed to just a
27:59 1978 Bronco go yeah you know so they had
28:02 to adjust it and I actually I did try to
28:05 to push it up they only they only
28:08 insured it for what I paid for it they
28:10 wouldn't go further that makes sense
28:12 which is okay because I think I could it
28:14 would be diff if something did happen to
28:16 it I I could find a comparable one
28:20 probably in that same range but you
28:22 never know yeah with these like classic
28:25 cars or or one-offs it's tough to find
28:28 replacement cost and and get an
28:30 insurance company degree yeah yeah buy
28:32 or
28:35 beware Act of God
28:38 no I don't know what that is in Latin
28:41 all right everybody um if you got any
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