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re: Homeowners Insurance non-renewal...wtf
Posted on 3/15/15 at 7:08 am to lsufanintexas
Posted on 3/15/15 at 7:08 am to lsufanintexas
Usually most homeowners policies require you to live in the house. Somehow the insurer must have figured out that noone is living there.
This happened to us as we moved to another city and it took a few months for the house to sell. They did not drop us, what the insurer did was tell us that there was a vacancy rider we could add to the policy, and we needed to do that, or we would be dropped. Cost was like 200 bucks.
A vacant house does pose more of a risk of someone breaking in and screwing up things, or if something happens to the house, it might not be immediately realized, which could worsen the damage.
This happened to us as we moved to another city and it took a few months for the house to sell. They did not drop us, what the insurer did was tell us that there was a vacancy rider we could add to the policy, and we needed to do that, or we would be dropped. Cost was like 200 bucks.
A vacant house does pose more of a risk of someone breaking in and screwing up things, or if something happens to the house, it might not be immediately realized, which could worsen the damage.
1
Posted on 3/15/15 at 10:20 pm to LSUFanHouston
Mortgage co will just force place insurance on the property. Could see an uptick in monthly cost but it will be temporarily.
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