House Insurance on Estate Property

[Trying2Settle]

We finished probate court Friday. The house is owned by me and my brother 50/50.

 

[moburkes]

We finished probate court Friday. The house is owned by me and my brother 50/50.

Okay. That is still different than YOU owning it. You will need to get vacant home insurance. I'm not aware of an insurance company that will do 2nd home insurance, when you're not the only owner of the property. Also, most 2nd homes have things of value, and are sometimes just extensions of YOUR home policy. The fact that you don't own it 100%, still leads you back to vacant home insurance.

 

[Trying2Settle]

Having two or more owners of a piece real estate, from my understanding a common occurance. Whether its vacation/2nd home, rental, investment or etc. shouldn't determine the insurablility of the property. You are dwelling on the fact that this property is unoccupied, which is what I have told you and currently a true statement. But I have asked what the best way to get this property insured? This property has all utilities turned on and all furnishing and etc. to be lived in today. I can have a rental agreement signed today if that's what it is going to take to get insurance. It just makes no sense that even if I rent the property to someone, there is no guarantee that the renter is going to be at the property a set amount of time. They may spend less time there than I currently do. An example: My wife has a girlfriend that owns her own house but she spends most all her time at her boyfriends. She goes by to check her mail and etc on the weekends but spends very little time at home. Her insurance is not being cancelled**************.....because they don't know. Insurance companies don't want policy holders to fib on anything, but sometimes they leave a person looking for insurance no choice.


Thanks,

 

[moburkes]

If you're looking for me to tell you how to scam the insurance company, don't hold your breath.

 

[Trying2Settle]

Scam, you are way off base. I have choices**************surely you not saying that since I have told my insurance company that my property is unoccupied that I'm stuck with that only that option. We just got out of probate, and as you can imagine we haven't quite decided what we want or need to do with the property. I do know we need to keep insurance on it. We could sell, rent or whatever. If I need to rent it to get insurance that's what I will do. Obviously we need to keep the property insured as anyone in our position would want to do.

BTW Didn't you scam everyone in your public info, or did you not quite tell the truth?


Thanks......

 

[Trying2Settle]

I have often insured houses (i.e., had them insured) that are vacant and that I am trying to sell.

The insurance rates don't seem all that unreasonable to me.

Just a thought....

Senior Judge, would you mind telling me who you have used when insuring a house that is unoccupied and you are trying to sell. I would like to get a quote from them.

Thanks in advance,

 

[moburkes]

Scam, you are way off base. I have choices**************surely you not saying that since I have told my insurance company that my property is unoccupied that I'm stuck with that only that option. We just got out of probate, and as you can imagine we haven't quite decided what we want or need to do with the property. I do know we need to keep insurance on it. We could sell, rent or whatever. If I need to rent it to get insurance that's what I will do. Obviously we need to keep the property insured as anyone in our position would want to do.

BTW Didn't you scam everyone in your public info, or did you not quite tell the truth?


Thanks......

Huh? I am not applying for an insurance policy in my publicly posted forum information. I am NOT signing a document stating that the information presented is truthful, and that any material misrepresentations are grounds for denial of coverage.

 

[seniorjudge]

Huh? I am not applying for an insurance policy in my publicly posted forum information. I am NOT signing a document stating that the information presented is truthful, and that any material misrepresentations are grounds for denial of coverage.

mo, ive bin wurking on my volcabulary

 

[seniorjudge]

Senior Judge, would you mind telling me who you have used when insuring a house that is unoccupied and you are trying to sell. I would like to get a quote from them.

Thanks in advance,

Mary has a large club.

I do not wish to be noggined by a large club either now or in the future.

So the answer is NO....

 

[moburkes]

mo, ive bin wurking on my volcabulary

Ummm. Well, according to the person quoted in my sig line, since volcabulary and spelling are 2 different things, I should forgive you for your spelling.

However, I'm not that kind. Your volcabulary sucks! and so does your spelling!

 

[seniorjudge]

Ummm. Well, according to the person quoted in my sig line, since volcabulary and spelling are 2 different things, I should forgive you for your spelling.

However, I'm not that kind. Your volcabulary sucks! and so does your spelling!

franks a lot

 

[JustAPal00]

Does the insurance company know they are vacant?????? I am the Chief Operations Officer for an insurance brokerage in WA DC and know first hand that standard insurance carriers don't like insuring vacant dwellings.

I inspect for the DCPIF. you're right!

 

[JustAPal00]

This property is currently unoccupied but it is not unattended. I go get the mail 2-3 times a week and check on the property, and mow every other weekend. I visit this property more than most people visit their lake homes. We are planning on putting the property on the market to sell in the next few weeks. It is in a neighborhood and I have neighbors on both sides watching the house. What chaps my butt is the fact that my current insurance company is acting like I'm someone they have no relationship with. My agent is telling me it is the underwriter that is giving him a no go. After 20+ years, maybe I need to seek a new insurance company!!
My question is: Should I ask for renter's insurance, or second home / vacation home insurance. Obviously if I ask for the correct scenario, vacant home insurance, I'm having trouble. I am willing to forego theft/vandalism coverage, since we have taken the items of value out of the house. The rest of the stuff in the house is garage sale stuff. I am just wanting to have the structure insured.

Any recommendation or advice is appreciated

Thanks

First try the company that you insure your home through. Many will insure one or two non owner occupied homes if your primary residence is with them. The company with "good hands" does. If that's a no go, most states have a program for uninsurable properties like yours, it's more expensive but it's all there is. Unoccupied homes that are not for sale are the hardest to insure. I realize you plan on selling it soon, but you wouldn't believe how many sit for years. Then kids start breaking in to party and vandalize things. Homes that are being rehabed or are for sale like the judges are easier and cost less to insure. The theory there is that people are in and out often.