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There are many reasons for Insurance Companies to cancel or refuse to insure.
What about a State "Fair" plan offered called the insurance of last resort?
Several non starters here are perfect old wiring, distance from fire hydrant and occupancy.
My brother bought an old ranch property to occupy... they had one heck of a time to get coverage but in the end managed to through the Farm Bureau...
Even having a wood burning fireplace was reason for denial as having a barn or having farm animals...
The family has a vacation cabin in the mountains... never a claim in 45 years... we also have a great neighbor who is always around... we share a drive... so far coverage has not been an issue but I wouldn't be surprised to get a letter one day...
My advice is to shop to you drop... ask local Real Estate Brokers who is writing policies and be prepared for higher premiums... one of my friends, honest... has his fire policy through Lloyds of London at 3x the cost... no choice as he has a mortgage and MUST carry fire... never a claim but too far from a fire hydrant after California wildlands fires...
Yes, and also because if there's a pipe leak or something of that nature it probably won't be noticed until it becomes a major crisis.
That's why I always shut the water off when I leave my winter house to go back home. My neighbor didn't and had a huge flood. He does shut the water off now when he goes back home. We are very fortunate to have good neighbors who will contact us if they notice something.
Since you plan to insure the property year-round, it's illogical that it can only be insured when/if you are in full-time residence. People insure vacation homes; condos insure the entire building regardless of how many owners live there full-time; and owners everywhere insure rental properties year-round ... even though the property may be vacant for extended periods.
Perhaps the issue with the non-insurable property here is in the way you are approaching it with the agent/insurance company. What if, for example, you thought you might 'consider' renting-out the property at some point? (Whether or not you actually get around to doing that would be irrelevant).
Add RV antifreeze to toilet bowl/tank and all water P-Traps
Unplug all plugged in devices
Prop open refrigerator/freezer doors
Turn off Propane at the tank
Turn off Electric at the Main outside on the pine tree.
Since 1964 this is what we do... and to date the only seasonal cabin that has not incurred loss either from burst pipe or lightning
The turning off propane at the tank is the newest on the vacant check list... a playful bear snapped the regulator and we lost $900 of propane... plus had to replace the $1 pipe nipple.
Lots of snowbirds in Florida and some are friends... will have to ask how they handle time away.
We had Foremost, and they covered our house for 3 years of vacancy---not much difference in price. We had a house-sitter for irrigation season, but that was it. "House-sitters of America" is a good resource.
Since you plan to insure the property year-round, it's illogical that it can only be insured when/if you are in full-time residence. People insure vacation homes; condos insure the entire building regardless of how many owners live there full-time; and owners everywhere insure rental properties year-round ... even though the property may be vacant for extended periods.
Perhaps the issue with the non-insurable property here is in the way you are approaching it with the agent/insurance company. What if, for example, you thought you might 'consider' renting-out the property at some point? (Whether or not you actually get around to doing that would be irrelevant).
irrelevant about renting it out . most policies say vacant for more than 60 days no coverage for lots of things .
you can't rent a place out either with homeowners . you need landlord insurance . you will have no coverage once again on arson ,vandalism and theft to name a few things using homeowners .
Perhaps the issue with the non-insurable property here is in the way you are approaching it with the agent/insurance company. What if, for example, you thought you might 'consider' renting-out the property at some point? (Whether or not you actually get around to doing that would be irrelevant).
Very amusing.
All policies have provisions regarding concealment, misrepresentation and fraud.
Tell your insurance agent you plan on renting out the property, have a claim 6 months later without ever having rented out the property and you risk having the policy rescinded and the claim denied.
I'm a retired claim rep and I HAVE rescinded policies and denied claims for just that kind of misrepresentation.
Never try to fool your insurance company. It's not their first rodeo.
again , you cannot rent out a place using homeowners . that is for owner occupied only and there are some very good reasons why you never want to rent out a home using homeowners or even an apartment .
for starters under homeowners anyone living in your home becomes an insured and household member . if your tenants get sued your policy has to cover them and you are on the meet hook for being dropped . also any vandalism , theft or arson is an insurance job since under ho3 they are an insured like you are
So along these lines, is rental dwelling (or landlord's policy) generally more expensive than homeowners?
I suppose I could rent the home out when I am not using it and convert the homeowners policy to a rental dwelling (landlond's policy) during the rented months?
I know I can ask an insurer for a quote on this, but since there are knowledgeble folks here, I thought I'd ask. Thanks!
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