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Ask Deborah Awyzio Your Own Question
Deborah Awyzio
Deborah Awyzio, Solicitor
Category: Australia Law
Satisfied Customers: 863
Experience:  Bachelor of Laws (QUT), BIT (QUT), Family Law Accredited Specialist, over 12 years experience
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Last year my house down and was insurance ,000

Customer Question

Hi! Last year my house burnt down and was insurance for 404,000 and the insurance company is saying that they are only paying house out and we don't get the rest. I would like to know if I can do anything legal wise about it
Submitted: 1 year ago.
Category: Australia Law
Expert:  Leon replied 1 year ago.
Good Afternoon, My name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise Please understand this is not legal advise but a guide to assist you.What do you mean but the rest?
Customer: replied 1 year ago.
they are trying to say that after 253,000 paid out of house we only get about 30,000 when house was insured for 404,000
Expert:  Leon replied 1 year ago.
Good Afternoon,Was the money you got the cost of rebuilding?Has your home ben rebuilt and are you back in the same position as you were before the damage?
Customer: replied 1 year ago.
the house is insured for 404,000 and i have not rebuilt yet. They are saying that they are only going to pay the figure of $287,000 and out of that the amount the amount of $253,000 which means we only get about $30,000 to us when we should of got approximately $150,000 after. I don't know how they get that when I have to policy in front of me. And at time when buying house there was nothing about asbestos in the walls or ceiling from building inspectors or real estate. Do I go see a lawyer? I'm so confused I don't know what to do.
Expert:  Leon replied 1 year ago.
Good Evening, They only have to reinstate the house. Not give you the cash. If the reinstatement of the house is $287,000.00 that it all they have to pay. If you have overinsured the house that is an issue for you. The policies are very clear that they only have to reinstate the house that was there. If that costs them less than you had it insured for, they are not liable to pay you the difference. This is all contained in the Product Disclosure Statement. Have you had a quote on what it is going to cost to rebuild?