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Discussion Starter · #1 ·
To make a long story short, I purchased a coastal property in June of 2006. There were three insurance policies that were supposed to be purchased. One for hazard, one for windstorm, and flood. I paid for these policies at closing to the closing company who subsequently wrote checks to the insurance agent. Come to find out in June of 07 she never got a windstorm or hazard policy but cashed the checks. She had presented binders at closing listing the underwriters and I have contacted them and they have never heard of me. She is now giving me the runarround. Anybody know where I should go from here?
 

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Give it hell Remy!
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Tell her you are going to contact the State Board of Insurance if she cannot prove that those checks were sent to the respective insurance companies. They regulate all Texas title companies.
 

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HP - it sounds like the checks were sent to the insurance company, but policy was not issued.

would happen to be Harris County Insurance would it? We've always had problems when trying to get our windstorm through them.
 

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Discussion Starter · #6 ·
I won't have copies of the checks till Monday as Alamo title needs to get them from corporate. The lady from their office said there check registry shows them cashed but won't have proof till next week. I already got on the Texas Department of Insurance site and saw the complaint form. Is this actually going to do something or is it a waste of time? I can't file the complaint until I have the documentation in hand.
 

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I would also contact her broker if she is just a agent. But I would put that young lady in jail for stealing your money first.
 

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TDI should take that type of complaint very seriously.

I can't believe you went a whole year and your mortgage company has not asked for proof of insurance. Sounds like someone in their office dropped the ball too.
 

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Give it hell Remy!
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I see, I thought he meant the checks were never written. If you get documentation and file the complaint you will hear back from them.
 

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Unfortunately, you first need to place coverage on the home even though you've already paid one carrier. Its hurricane season, get coverage first and worry about getting your money back later. If Hurricane X takes the house, the mortgage company still wants their money. That hurricane could come next week and I bet you won't have this resolved by then.

TDI will take this very seriously and quickly. If it turns out the agent used your premium as it sounds, what a shame. No wonder insurance folks can get a bad name. And I are one. Good luck with a crappy situation.
 

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Discussion Starter · #11 ·
The mortagage company recieved binders from this broker listing the underwriters. Nothing ever came up until the non-existent policies came up for renewal. They have since purchased a lender policies that I am getting completely screwed on. I have new policies through another source but the Mortgage company says I owe for this policy they purchased. She better pay me back on that too.
 

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What the mortgage company bought was for first party coverage. Come claim time they would have been paid but most likely none of your personal stuff would have. And, as you know, they are outrageously expensive. It sounds like you not only have a cause for your purchased but not bound policies but this lenders policy as well. If you dare, read your contract with the lender. More than likely they outline that you will owe for the coverage they placed temporarily.


Also, send a certified return receipt letter to the agent in question demanding copies of the declarations pages for all three policies. Put a time demand of 3 days after receipt of the letter on this. Make it to the point but without anger in your wording. You will need this later with TDI. File the TDI complaint now. I can't remember if you can do it online or not, but if that is an option, do it. This action will not be tolerated by TDI if its upheld, they will pull the state licenses. That doesn't mean you will recover any money. That most likely depends on whether the agent/agency can afford it.
 

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What about my member?
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What companies did she place on the binder. I'd start with TDI and work my way through the companies. I'll be glad to get contact information on the companies for you and they will seek legal action as well. TDI does not take lightly to these situations. I get a monthly report with agents that are fined and licenses revoked for this type of behavior.

Solid advice above getting the home covered being your first priority.
 

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Discussion Starter · #14 ·
Thanks pattillo for the advice. I sent you a PM.

The policies were supposed to be written through Texas Windstorm and Colonial Lloyds. They have never heard of me. I faxed copies of the binders to them and am waiting to see what they say.
 

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Discussion Starter · #15 ·
Thanks for the replies. Any brokers or agent that want a issue a hazard policy give me a pm. I have the flood and windstorm. Dang, I love this website. Thanks Mont.
 

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Contact Brice aka Outcast here on the board, he'll help you out. I specialize on the commercial side or would help you myself. Good luck.
 

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Report to TDI immediately also request a copy of her E and O policy in case you have a loss between now and putting coverage on the house...do it asap...you can always cancel with a refund if something comes up. As an Agent who specializes in coastal exposures I can tell you that TWIA and National Flood do not care that you should have had a policy...if you have a loss you will be out of luck and just deeper in the hole. Also expect a 30 day wait on the flood coverage...
 

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Make sure to file a complaint with her parent insurance company. Like if she is an Allstate agent file a complaint with the Allstate Regional office.
 
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