Homeowners Insurance

[WilliamReuben]

What is the name of your state (only U.S. law)? TX

We inherited a house from a relative. We purchased home owners insurance, in the form of a Fire policy, for that house. We moved some of our belongings there, and my spouse spends at least half his time there, spending the night 3 days a week, and spending 8-10 hours there during the day. When consulting with our insurance agent, we were told that a) it's not possible to get 2 complete insurance polices on 2 homes within the same city and b) any contents we had at the inherited house would be covered by our "off premises" policy from our Home Owners on our other house. We were told that this is the best we can do to cover contents of the inherited house.

Of course, the inherited house was burglarized, and we filed a claim with our insurance carrier for the "off premises" policy. Now we're being told that the "off premises" exludes coverage from any property we own, because we should be insuring that property separately.

So ... in Texas ... how can you legally insure multiple houses? Do we need to get renter's insurance or something like that to cover our contents that are in the inherited house? With the way things have been explained to us, it seems like it's not possible to insure more than one house, but I know there are people - usually rich people, but still - who have more than one home. How do they get insurance on their residences?

 

[HomeGuru]

What is the name of your state (only U.S. law)? TX

We inherited a house from a relative. We purchased home owners insurance, in the form of a Fire policy, for that house. We moved some of our belongings there, and my spouse spends at least half his time there, spending the night 3 days a week, and spending 8-10 hours there during the day. When consulting with our insurance agent, we were told that a) it's not possible to get 2 complete insurance polices on 2 homes within the same city and b) any contents we had at the inherited house would be covered by our "off premises" policy from our Home Owners on our other house. We were told that this is the best we can do to cover contents of the inherited house.

Of course, the inherited house was burglarized, and we filed a claim with our insurance carrier for the "off premises" policy. Now we're being told that the "off premises" exludes coverage from any property we own, because we should be insuring that property separately.

So ... in Texas ... how can you legally insure multiple houses? Do we need to get renter's insurance or something like that to cover our contents that are in the inherited house? With the way things have been explained to us, it seems like it's not possible to insure more than one house, but I know there are people - usually rich people, but still - who have more than one home. How do they get insurance on their residences?

**A: talk to other insurance companies to get other opinions. Talk to your state insurance commissioner.

 

[WilliamReuben]

We have spoken with a number of other companies - our insurance agent underwrites for 10-12 different companies. She reported that no insurance company in Dallas will write a policy, covering contents, for 2 dwellings owned by the same individual in the same city.

Should I just email the insurance commissioner the same thing I posted here or do I fill out one of their complaint forms?

 

[bluestblue.]

couldent you both get policies? yours covers your current home, and your spouse covers his new home? that might solve that problem.

I dont know what you would complain about to the insurance dept for your state,,,, that your agent wouldnt do something to jepordize his license? because he didnt think of getting each of you your own policy covering your respective houses? no.

 

[tammy8]

I don't have an answer to the OP's question but I do know MANY insurance companies are NOT insuring secondary homes in the same county much less the same city because of all the foreclosure issues now.

 

[moburkes]

One home would be covered by a homeowner's policy and the 2ndary home would be covered by a fire policy. Potentially the 2nd home could be covered by a season dwelling homeowner's policy, but that's unlikely since people don't generally have seasonal dwellings in the same county. In the case of the fire policy, you would just include contents coverage. However, since a fire policy has limited coverages to begin with you'd need to add coverage for theft.

 

[bluestblue.]

So why cant they just each get a seperate homeowner policy?
wife dwells in one and insures it as such, husband dwells in other therefore insuring it seperate from his wifes policy....

I really believe that is the way to go.

 

[moburkes]

So why cant they just each get a seperate homeowner policy?
wife dwells in one and insures it as such, husband dwells in other therefore insuring it seperate from his wifes policy....

I really believe that is the way to go.

Considering that they are married, no insurance policy will cover one without covering the other, unless you're telling them to lie and say that they are not married...

 

[bluestblue.]

Considering that they are married, no insurance policy will cover one without covering the other, unless you're telling them to lie and say that they are not married...

oh, i am definately not implying that.

 

[WilliamReuben]

Thanks for the replies.

I don't necessarily want to complain to the insurance commissioner - I just wanted some information about how to insure both of our homes and since I haven't been able to get that information from our insurance agent, or any other agent I've spoken with, I need some place to turn to for answers.

I've taken the suggestion of adding contents coverage to the fire policy; well, I actually asked about this. However, our current insurance agent reports that none of the companies they underwrite for will do that.

I think we're going to change companies.

And actually, the houses are in 2 different counties, and actually in different cities. One is in Dallas, the other in Carrollton.