Barbara Ann Tudyman - Page 15

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          Mateo County, petitioner said that she had repaired the damage to             
          her property.  The County reappraised the property at $350,705.               
          G.   Petitioner's Insurance Claim                                             
               Petitioner was insured for earthquake damage up to $42,000               
          by USAA.  Petitioner submitted a claim to USAA for personal                   
          property damage of $59,967.99.                                                
               A USAA inspector estimated that petitioner’s real property               
          damage was $40,000 to $60,000, which exceeded the $30,000 policy              
          limit.  Lentom General, a building contractor, estimated that it              
          would cost $50,000 to $55,000 to jack up the building to level                
          the floors.  Lentom General sent its estimate to USAA.                        
               On February 16, 1990, USAA paid $12,000 to petitioner for                
          personal property damage and $30,000 for real property damage                 
          caused by the earthquake.  This amount ($42,000) was the maximum              
          allowed by her policy.                                                        
          H.   Homeowners’ Association Insurance                                        
               The Homeowners’ Association insured the condominium complex              
          with Aetna Life & Casualty (Aetna).  On April 10, 1990, Aetna                 
          denied coverage for the earthquake damage.  Aetna concluded that              
          petitioner’s damage was less than the deductible (5 percent of                
          the cost of her building).  The policy excluded damage to the                 
          foundation.  Aetna did not consider foundation damage in                      
          concluding that the damage was less than the deductible.                      
          I.   Petitioner’s Tax Returns                                                 

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