Quote:
Originally Posted by calgarygeologist
What exactly is an insurance claim check as a buyer? I've heard of it for vehicles (carproof report, etc.) but how do you do a check for homes? I've never heard of that nor was it recommended to me by anyone when I was purchasing my properties in the past.
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Quote:
Originally Posted by undercoverbrother
I to would like to know this information.
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Maybe it's different in Alberta, but both times I purchased a property in Ontario, obtaining insurance was a condition for financing and the insurance company would automatically check to see if claims were made against the property in the past before determining whether they would insure the property and what the conditions would be.
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Originally Posted by Cecil Terwilliger
FA, I think you are confusing water damage with flood damage. Unless of course a 3 story high tsunami hit Mohogany that I never heard about.
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But still, if you have a choice between two identical condos at roughly the same price, do you buy the one with a claims history over one that there is no evidence of past issues?
Maybe a moot point if checking for claims isn't a common practice there.