House Insurance on Estate Property

[Trying2Settle]

What is the name of your state? Oklahoma

My father passed away Sept. 06. He had 4 vehicles and a house insured with the same company. I had informed the insurance company of his passing back in Sept 06. Today I got a notice and a check of the remaining premium in the mail saying they were canceling the home owners policy. The reason given is: "This home is no longer owner occupied by the "named insured" on this policy, which makes coverage ineligible". I had just recently renewed the home owners policy in June, and nothing was mentioned about this issue. And they haven't canceled the vehicle insurance.....yet.
Can they do this on an estate property that's in probate?

Thanks for your help..What is the name of your state?

 

[moburkes]

What is the name of your state? Oklahoma

My father passed away Sept. 06. He had 4 vehicles and a house insured with the same company. I had informed the insurance company of his passing back in Sept 06. Today I got a notice and a check of the remaining premium in the mail saying they were canceling the home owners policy. The reason given is: "This home is no longer owner occupied by the "named insured" on this policy, which makes coverage ineligible". I had just recently renewed the home owners policy in June, and nothing was mentioned about this issue. And they haven't canceled the vehicle insurance.....yet.
Can they do this on an estate property that's in probate?

Thanks for your help..What is the name of your state?

Yes they can. And they especially want to do it if the house is vacant.

 

[Trying2Settle]

So what do I need to do to get new insurance? Is it possible that the insurance company might insure this property if we write a different type of contract?

Thanks

 

[moburkes]

Ummm. Shop around. Call your agent. Open the yellow pages. You can try a company called Foremost.

 

[Trying2Settle]

So the property is not un-insurable just because no one lives there currently.
Better customer service by them would have been to just call and say that we needed to change the policy? I would have liked that much better. My father had been with this company for 50 yrs and I also have my property and vehicles insured with the same company for 20+ yrs. There seems to be no loyalty to good long relationship customers anymore.

Thanks...

 

[moburkes]

They have no obligation to do what you've asked. Most insurance company won't do what you've asked. You're asking for too much.

 

[tammy8]

I can't even name a company that will insure a vacant home and the ones that I have heard about will insure tham at about 1000X the cost of regular insurance. OP what are you going to be doing with this property? It sounds like time to make a decision and either sell or put it in your name to use as a secondary home or rent out.

 

[moburkes]

I can't even name a company that will insure a vacant home and the ones that I have heard about will insure tham at about 1000X the cost of regular insurance. OP what are you going to be doing with this property? It sounds like time to make a decision and either sell or put it in your name to use as a secondary home or rent out.

I can't think of the name of the company that I used to write them with, but you are right, they are EXPENSIVE. The 3 month premium on it is about 4 or 5 times more expensive than what you'd pay for an annual premium if the house was owner occupied. Foremost offers less coverages, but is still expensive.

 

[sjmjuly]

Call an independent agent that has access to many insurance carriers. They will be able to find a carrier that writes vacant dwellings, but it will be for a price. They will probably write it for three months at a time, and the coverage isn't that great. It usually excludes vandalism. Some non-standard carriers will only write a vacant dwelling for a period of 12 months. You will just have to ask.

 

[seniorjudge]

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....

 

[sjmjuly]

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....

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.

 

[seniorjudge]

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.

Hmmm...yeah, when I ask for insurance on unoccupied houses, the insurance agent usually catches on pretty quick....

 

[moburkes]

Hmmm...yeah, when I ask for insurance on unoccupied houses, the insurance agent usually catches on pretty quick....

ROFLMAO!

 

[sjmjuly]

ROFLMAO!

Go groom one of your dogs,,,,I mean kids. Well they probably look similar.

 

[moburkes]

Go groom one of your dogs,,,,I mean kids. Well they probably look similar.

I'm so glad that I put dog grooming down as an occupation. It makes stupid people say stupid things when they believe that they are "one-upping" you.