California E&S Insurance

My problem is 100% based on the incorrect in an insurance database.  Otherwise, we'd be fine.  (We aren't in a huge "danger zone" for any issues, though it's probably more fire-friendly than some areas.  But it's not Malibu.)  One insurer asked the current buyers to get records of the repairs, and when the repairs receipts we provided were only about $30k and the database says $80k, the insurer wanted "the rest of the receipts", which don't exist.  Because there was no $80k claim(s).  The letter from my insurance company saying  there was only 1 claim and that claim was only about $25k (our receipts were $30, because we did some upgrades outside the insurance, like replacing the damaged linoleum floor with tile), wasn't sufficient.  So I wouldn't be too worried about selling if you don't have a claims history and aren't in a high-fire area. That said, insurance concerns were one of the tipping points for our decision to sell.  The property made money as a rental (though the return was shitty if you consider all the equity, since we only have about $150k left on the loan, and it's selling for >$900k.  But I wanted to be done being a landlord, we wanted to get the equity to buy a residence, and I feel like CA insurance and other climate issues aren't getting better. OUr agent did mention that in his years of experience, insurance has never come up, and now we are the second in less than a year.  The other one was just a lender saying they needed proof that the buyers could get a sufficient policy, before they'd write the loan, or something like that.  So insurance in regard to buying does seem to be heating up.  But again, it's the fact that we have a semi-large claim, and really the fact that the database insurance companies use makes that claim look like 2 claims and much, much worse.  Or we'd be fine. I could use all the good vibes that we make it through this and close escrow in a couple weeks!

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