insurance companies dont want my money

[rdln]

Wow talk about trying to give money away. My hometown hero Farm Bureau agent says that since I have been a valued customer and have dutifully paid on my $1000+ premium for almost 20 years with.one small claim 15 years ago we are going to cancel your policy because you now live in a different house.

I ask what about calling it a cabin? There are thousands of cabins up north that are occupied six weekends a year and will cost alot more than my little house to replace. I know they are insured.

They will insure land barn and equipment but not the house because no one is living in it.

I have a quote being worked up by the company that insures the main house but they say the underwriters may reject it. I know this company insures two different family members cabins.

Has anybody run into this?

 

[ultrarunner]

It is very common here... lots of city folks that buy a rental to fix-up run into this because vacant homes have a higher claims experience... from vandalism, pipe breaks, trees falling, etc.

They have really tightened up on cabins... my last experience went OK only because the cabin has a nearby fire hydrant and is an area with year round residents...

The company did visit the site and was very thorough... and noted we have an excellent neighbor that we share the driveway with... I think, without him, we would have been out of luck.

In California, there is always the State Fire Plan of last resort... your State may have something similar.

 

[Retired Iron Peddler]

Wow talk about trying to give money away. My hometown hero Farm Bureau agent says that since I have been a valued customer and have dutifully paid on my $1000+ premium for almost 20 years with.one small claim 15 years ago we are going to cancel your policy because you now live in a different house.

I ask what about calling it a cabin? There are thousands of cabins up north that are occupied six weekends a year and will cost alot more than my little house to replace. I know they are insured.

They will insure land barn and equipment but not the house because no one is living in it.

I have a quote being worked up by the company that insures the main house but they say the underwriters may reject it. I know this company insures two different family members cabins.

Has anybody run into this?

Yep, I've run into it also. Most insurance companies will not insure an empty unoccupied house. I kept the water and electricy (HVAC) turned on and a bed, dinnerware, some pots and pans, and kept a fridge running with no problem. I've insured exclusively with Texas Farm Bureau for over 30 years.

Bill

 

[smstonypoint]

My experience is limited to NC -- your mileage may vary.

Although my permanent residence is in SC, I have my farmhouse in NC covered by my farm policy. The only requirement for the farmhouse to be covered is that it be inhabited at least one night every 90 (or 60?) days. That's not a problem as the Missus and I spend more time there than in SC since I retired.

When my MIL passed, we added her dwelling to the policy. The agent classified it is a tenant house even though it was not on the farm. It has to be inhabited at least one night every 90 (or 60?) days to be covered.

My impression is that insurance companies are leery of insuring vacant buildings and so require the periodic overnight stays.

I would shop around -- I think your problem can be resolved.

Steve

 

[texasjohn]

Hmm, maybe time for competitive bids!

 

[ustmd]

My in laws had this exact problem when they inherited a farm and house in TN. Because it was not occupied, they had difficulty getting it insured and when they did, the policy had a number of riders on it--for example, in case of fire, the insurance company would only pay if the house was rebuilt and it had to be rebuilt to the exact same layout.

 

[brokenknee]

Wow talk about trying to give money away. My hometown hero Farm Bureau agent says that since I have been a valued customer and have dutifully paid on my $1000+ premium for almost 20 years with.one small claim 15 years ago we are going to cancel your policy because you now live in a different house.

I ask what about calling it a cabin? There are thousands of cabins up north that are occupied six weekends a year and will cost alot more than my little house to replace. I know they are insured.

They will insure land barn and equipment but not the house because no one is living in it.

I have a quote being worked up by the company that insures the main house but they say the underwriters may reject it. I know this company insures two different family members cabins.

Has anybody run into this?

I have had the same insurance company for over thirty years. I recently moved to the Bemidji area. They will not insure my property because I have a shed on the property were part the of roof has caved in. It is still repairable so I do not want to tear it down. Found a local insurance company that simply wrote the shed out of the policy. Makes sense to me.

When I told my old agent of this he said he was told by the underwriter it was an all or nothing type of deal. Hardly seams a good way to do business. I will be switching my auto coverage over to the new agent as well. I prefer to only deal with one agent.

 

[KansasFarmer]

Unoccuppied homes on farm land have a tendency to burn down resulting in a large claim. Just based on experience.

 

[grsthegreat]

Just tell them you kid is going to move into the place and live. Man i HATE insurance companies. They take and take and then try never to pay a cent when you make a claim. I just did the round robin thing with my agent over a claim. First one in 16 years.

How would they know that no one is living there??

 

[ultrarunner]

Just tell them you kid is going to move into the place and live. Man i HATE insurance companies. They take and take and then try never to pay a cent when you make a claim. I just did the round robin thing with my agent over a claim. First one in 16 years.

How would they know that no one is living there??

One way is if the utilities are not on...

We keep a phone, power, water and garbage... gas is propane.