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re: Got my answer page 3; IF my house is paid off, I can't have NO insurance if I choose to
Posted on 5/31/23 at 11:16 pm to tiger91
Posted on 5/31/23 at 11:16 pm to tiger91
quote:
I called Farm Bureau to see if they could see our LA Citizens new premium on their end yet. She said no but to expect 65% or so BUT some haven't been that high.
I then said we are considering just self insuring and she said no can do.
You absolutely can self insure if your house is paid off.
I know some companies that write x-wind homeowner policies require that you maintain a separate wind/hail policy as a condition of the homeowners coverage. For example, homeowner company could say that they won’t write/renew your x-wind homeowners policy if you dropped the Citizens wind/hail policy. I don’t know if this is actually a rule Farm Bureau has, but have dealt with other insurers who won’t write the homeowners without proof of the separate wind policy. In that case, still nothing stopping you from dropping both policies
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Posted on 6/1/23 at 8:06 am to tiger91
The girl is probably thinking along multi lines - if you have an umbrella policy they can certainly require you to have a homeowner policy.
Most likely, you have cars, farm equipment, etc. insured there - the girl was thinking about losing multi line discounts - talk to the agent and report back.
Most likely, you have cars, farm equipment, etc. insured there - the girl was thinking about losing multi line discounts - talk to the agent and report back.
Posted on 6/1/23 at 8:19 am to KillTheGophers
quote:
Most likely, you have cars, farm equipment, etc. insured there
We have no less than 20 policies. It's insane. Agent should be calling back today.
Posted on 6/1/23 at 8:37 am to tiger91
quote:
tiger91
Is your house paid off RIGHT NOW?
What is it about this story that i'm missing here that has you confused...
Posted on 6/1/23 at 4:34 pm to tiger91
If you have no liens against your home, you don’t have to have insurance.
Posted on 6/1/23 at 8:30 pm to tiger91
When you told her you are thinking of self insuring, did you mention that your home is paid off?
Posted on 6/1/23 at 9:09 pm to anl4002
Farm Bureau is not the employer of the most knowledgeable office staff. They also will add coverages when they renew so they can charge you more.
When I lived in BR, I did a lot of the pre-legwork on the phone with the BR Farm bureau agent. Once we covered house and vehicles, he started trying to sell me life insurance. I declined.
He waited until my wife and I came to the office to sign, then tried to shame and embarrass me into buying life insurance, because she was sitting right there. He was working the angle of "If I loved her, I would want her taken care of if I died."
I told him if he wanted any of my business, that he should stop it right now.
I just looked. He is still with Farm Bureau in Many, LA.
When I lived in BR, I did a lot of the pre-legwork on the phone with the BR Farm bureau agent. Once we covered house and vehicles, he started trying to sell me life insurance. I declined.
He waited until my wife and I came to the office to sign, then tried to shame and embarrass me into buying life insurance, because she was sitting right there. He was working the angle of "If I loved her, I would want her taken care of if I died."
I told him if he wanted any of my business, that he should stop it right now.
I just looked. He is still with Farm Bureau in Many, LA.
Posted on 6/2/23 at 8:32 am to tiger91
I cut down all of the trees in my backyard and canceled my wind/hail coverage with Allstate.
Posted on 6/2/23 at 9:01 am to tigerwith3
quote:
I cut down all of the trees in my backyard and canceled my wind/hail coverage with Allstate.
A La citizens wind policy through Allstate?
Posted on 6/2/23 at 9:09 am to tiger91
quote:
I can't have NO insurance if I choose to
Or what?
Posted on 6/2/23 at 9:43 am to tiger91
Curious to whether OP finally talked to his agent and what the end result was...
quote:I'm thinking that he has an umbrella policy and/or some other specialty lines policies with Farm Bureau where eligibility for those other policies is contingent upon having his homeowners coverage through Farm Bureau also.
We have no less than 20 policies. It's insane.
Posted on 6/2/23 at 11:10 am to tiger91
Simple. If you have a mortgage, you don’t really own the house. The bank does
Posted on 6/2/23 at 11:58 am to tiger91
So an admin at State Farm is telling you that you have to carry insurance on a home you own outright? That's probably why she's an admin.
Posted on 6/2/23 at 2:56 pm to tiger91
Just curious if the agent has responded yet?
This post was edited on 6/2/23 at 2:57 pm
Posted on 6/2/23 at 5:15 pm to iknowmorethanyou
No and I’m not happy. Our rate should be in on Monday per the Secretary — he could be waiting until then.
All agents imo suck for the most part.
All agents imo suck for the most part.
Posted on 6/2/23 at 5:16 pm to Chad504boy
All agencies from my understanding can write through La citizens.
Posted on 6/2/23 at 5:17 pm to Tiger Prawn
Prawn have not .. see post above this.
Posted on 6/2/23 at 5:48 pm to tiger91
With 20 policies through Farm Bureau, the agent should be proactively reaching out. I'd imagine yall are one of his better accounts.
Posted on 6/2/23 at 8:58 pm to iknowmorethanyou
One would think. Alas here we are.
Posted on 6/3/23 at 8:37 am to tiger91
Call me stupid, but if you owe nothing on your home and property there is no law that says you must be insured.
Now, if you live in a subdivision with an HOA or in a condo-type home, I can't speak to that.
As a private homeowner living in a country setting with my mortgage fully paid, I can choose to drop my homeowner's insurance anytime I see fit. Of course, I will be assuming the costs of any damages from hurricanes, etc. and I am still vulnerable to lawsuits from anyone who may claim to get hurt on my property.
But no, there are no laws saying you have to have insurance on your home!
Now, if you live in a subdivision with an HOA or in a condo-type home, I can't speak to that.
As a private homeowner living in a country setting with my mortgage fully paid, I can choose to drop my homeowner's insurance anytime I see fit. Of course, I will be assuming the costs of any damages from hurricanes, etc. and I am still vulnerable to lawsuits from anyone who may claim to get hurt on my property.
But no, there are no laws saying you have to have insurance on your home!
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