We attended a meeting where the broker explained the situation and outlined the options. They weren't pretty. The rates would go up substantially, and on op of that most of the units had electrical breaker panels that were recalled earlier in the year. In order to get insurance, the new insurance company was going to require condo owners to replace the boxes.
Each unit has two panels-one in the unit and the other in the basement. We had replaced the in-unit panel shortly after we moved in, but the instructions were to have the second one done before the end of the year. We contracted with the same company that did the original work, and the job was done today.
I had a commitment in the morning, and cooking at the church in the afternoon, but let the electricians in and walked them down to the basement before leaving. Tony was around to answer any questions. I stopped by the house in between commitments. Although the power had been shut off Tony had pulled up the blind in the office to let in as much light as possible, and he was busy sorting papers.
I got a text from him mid-afternoon that the job was done.
Next week the inspector will come and sign off on the job and our unit will be legal. And safe.
|
|
Public Domain Vectors |
Very good -Christine cmlk79.blogspot.com
ReplyDeleteGood that the job was properly done!
ReplyDeleteHow disappointing that your insurance premiums will go up; good you got the new breakers installed.
ReplyDeleteWill they be able to find another insurance policy, do you think?
ReplyDeleteIt sounds like they were able to cobble something together, but will immediately start looking for something better for the year 2025.
DeleteAh, the old Federal electrical box strikes again.
ReplyDeleteMy MILs condo complex was wired with Federal boxes and aluminum wiring back in the day. The insurance company made them change out the Federal boxes and rewire all 128 units with copper pigtails and special AL>CU connectors. The "special assessment" strikes again.
Ours used Sylvania boxes. Some, but not all, buildings have an aluminum wire issue. (Not ours!)
DeleteI knew there were two types of boxes but could remember the other one. Aluminum wiring was used from around 1965 to 1975. My MIL condo was built in 1973.
DeleteOur insurance premiums went up.
ReplyDeleteGod bless.
I think there have been so many natural disasters that companies have been forced to 'share' the pain of payouts.
DeleteBut you still haven't any insurance until everyone does this right? Difficult when you have to wait on others. Glad you're up to date and safe!.
ReplyDeleteThe policy operates on a calendar year basis, and the condo board set an end of the year deadline. Not sure what they'll do to the units who don't comply.
DeleteLegal is good. Safe is better.
ReplyDeleteI agree.
DeleteI'm sure a condo complex is just an insurance nightmare. Have you talked with your own insurance company about your unit's coverage? It, too, has probably increased. If it's anything like here in California, I highly recommend you DO NOT change insurance companies. We have been with State Farm all the way back to when we had renter's insurance for our first apartment. They shifted to our condo in 1977 and then to our house when we bought it in 1980. We've only had a couple of claims BUT I recently heard from a friend that State Farm is not writing new policies in California. We discussed this at Ladies Who Lunch last month because many companies are not only NOT writing new policies but cancelling policies on those who have made claims. It's getting a bit scary.
ReplyDeleteI've heard that several insurance companies had pulled out of the California market after so many fires and floods, and that's affecting the overall market.
Deletegood thing it has been replaced. Home insurance is a problem all over. I know here in California, insurance companies are leaving the state leaving homeowners in a lurch. So far so good with USAA.
ReplyDeleteI should have read your comment before I replied to dkzody! Glad to hear that the one you've chosen is working out.
DeleteInteresting...I just had a friend with USAA who had filed a claim tell me they cancelled her home insurance. I was shocked.
Delete