by Guest » Thu Dec 04, 2008 03:47 pm
Can I keep my Home Owners Insurance even if I'm not currently living in the home? I've been living in another city while looking for work, my insurance company said that since I had a change of address I am no longer owner occupant. How can I keep insurance on the property should I need to move back in?
Posted: Thu Nov 03, 2011 03:20 pm Post Subject: INSURANCE
WHAT IF A TENANT HAS PURCHASED HOMEOWNERS INSURANCE ON THE HOUSE
Posted: Thu Nov 03, 2011 09:00 pm Post Subject:
WHAT IF A TENANT HAS PURCHASED HOMEOWNERS INSURANCE ON THE HOUSE
The tenant cannot purchase a true homeowner's policy, like a HO-2, HO3, etc. The only form available for renter's is called a "Tenant Homeowner" contract, usually called a "renter's" policy. In the business it's known as a HO-4.
This only provides protection for the tenant's personal property, personal liability and med pay and additional living expenses. It does not provide any coverage for the structure or outbuildings, like a "real" homeowner's policy would.
InsTeacher 8)
Posted: Mon Nov 07, 2011 05:35 am Post Subject:
A renters policy provides protection only to the tenant's own contents, liability, medical bills and ALE but not the the actual property.
For financial protection against damage to the property, Landlord's insurance is needed. Landlord's insurance provide legal protection against lawsuits arising from injuries suffered by a tenant or a visitor to the property. Landlord's insurance is like a homeowners insurance with few differences.
Posted: Wed Nov 09, 2011 03:29 pm Post Subject:
WHAT IF A TENANT HAS PURCHASED HOMEOWNERS INSURANCE ON THE HOUSE
What my colleague, InsTeacher, inadvertently left out of his entirely accurate response was the reason the tenant cannot purchase a homeowner's policy: LACK OF INSURABLE INTEREST. This is the foundation underlying all insurance contracts. If you don't own it, you cannot insure it. All you can do is insure yourself and your personal property.
Posted: Mon Jul 16, 2012 03:31 pm Post Subject: death of parent, not owner occupied
Ins. says, NC law requires notice & know your rights.renewal of pollicy, dwelling is not owner-occupied & therfore ineligible for this type policy, There is a manager,caretaker living in house & on property at all times
What is the solution?
Posted: Tue Jul 17, 2012 06:19 am Post Subject:
You obtain a DWELLING POLICY to cover damage to the structure (you probably want a DP-3 policy) and liability losses. It does not cover your tenant's personal property.
Posted: Mon Aug 27, 2012 10:06 pm Post Subject:
my utility has been off in my home for 1 year my home is paid for and been unoccupied for 1 year . i paid my homeowner insurance for that year does my policy cover my home if there is any damge to my home
Posted: Tue Aug 28, 2012 10:25 pm Post Subject:
my home is paid for and been unoccupied for 1 year . i paid my homeowner insurance for that year does my policy cover my home if there is any damge to my home
Your home will have only limited coverage. None for vandalism & malicious mischief (VM&M), none for freezing of water pipes. If the property is going to remain vacant, you need to speak with your agent and get the proper coverage -- IMMEDIATELY.
Posted: Mon Sep 17, 2012 05:41 pm Post Subject: What kind of ins. do I need?
I have been a WI homeowner for over 50 years. Recently moved to FL. I havent sold my home in Wi yet, want to know what kind of insurance do I need. my Grandaughter and family are living in it now, so it is occupied.
Posted: Wed Oct 24, 2012 10:01 am Post Subject: House insurance
I have a second home that my wife's mom use to live in until she passed away.
The house is still furnished but nobody is living there. I frequently check the place and the utilitys are in our name. My question is what type of insurance do I need.
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