Quote:
Originally Posted by lastscer
Actually they don't want to insure the buliding at all...my dad is handy so he could rebuild it at a much lower cost than 200K if the buliding is burned down. The only reason they had to get the coverage is due to bank demanding it, since they borrowed some money to purchase the building. The bank is satisfied as long as the coverage could pay off their loan.
I called a couple places and they don't offer such policy. Does anyone know any particular company that does offer it? They live in North Dakota.
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No one is going to willingly underinsure a commercial property by 70%. If your parents didn't want to pay for insurance, they shouldn't have bought the building.
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"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is now controlled by its system of credit. We are no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men." -- Woodrow Wilson
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???? Jan 20: Freedom for the Bill of Rights
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07-16-2010, 04:16 PM
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