I was notified by my mortgage company that my home owners insurance had been cancelled on 8-30-09. I contacted Met Life Insurance Company and they stated, “yes it has been cancelled due to the lack of mold insurance. Needless to say this set me back about four feet. In order to maintain the policy in effect I would have to purchse an additional policy ranging anywhere from $1,100.00 to $1,500.00 or my policy would be cancelled remains cancelled. I think this falls pretty close to extortion. Met Life states in their policy that they do not cover mold damage of any kind, so what is the point other than “forcing me” to purchase this additional coverage. I have a very large deductable anyway on my house and chances are Met Life would not be out a cent if I indeed had to get my repairs done due to mold damage.
This action by Met Life is absolute criminal in my mind.
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I was notified by my mortgage company that my home owners insurance had been cancelled on 8-30-09. I contacted Met Life Insurance Company and they stated, “yes it has been cancelled due to the lack of mold insurance. Needless to say this set me back about four feet. In order to maintain the policy in effect I would have to purchse an additional policy ranging anywhere from $1,100.00 to $1,500.00 or my policy would be cancelled remains cancelled. I think this falls pretty close to extortion. Met Life states in their policy that they do not cover mold damage of any kind, so what is the point other than “forcing me” to purchase this additional coverage. I have a very large deductable anyway on my house and chances are Met Life would not be out a cent if I indeed had to get my repairs done due to mold damage.
This action by Met Life is absolute criminal in my mind.