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Posted by Tim Holloway on Wednesday, September 03, 2008 at 18:47:52 :
We built a house for some folks back in 98. The owner acted as his own GC and did some of the work himself. We basically built the shell, completed from the exterior and he took care of the rest.
Fast forward to July 2005, I get a letter from his attorney claiming I was responsible for about 100,000 worth of repairs. I called my insurance agents and they looked it over and could not really tell what was the cause of the problems. The house was built with a hot roof, and it had developed rot and mold in some of the rafter bays. Why? Nobody seemed able to say. There have been a steady stream of "experts" in and out, nobody coming up with a good explanation. My insurance company was saying that they might cover part of it but I should be ready to kick in anywhere from 15 -30 thousand bucks. I am a small operation and dont have that amount kicking around so was basically prepared to sell off my business assetts and go under. This spectre has been hanging over me like I said for the last 3 years. Its a wonder I dont have ulcers.
I got a call today from the ins. agent telling me it was all settled, and it wouldnt cost me a dime! (until they jack up my rates!) The owners accepted an offer that didnt include provisions for the roof, which the ins, wouldnt have covered, so I was in the clear. The owners signed a release, naming both my company, myself and my wife, so they cant come after me again. WHEW! I cant describe how good this feels. I guess the Power Wagon content is that all of my mechanics tools and equipment, my truck and car trailer are all company asetts so if they had been auctioned off I would have had to work on the Power Wagon with a rock!
Damn, I feel good!
Tim
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