Announcement

Collapse
No announcement yet.

Insurance rate if living in home only 60 to 70% of the time.

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

  • Insurance rate if living in home only 60 to 70% of the time.

    Ohio

    If I live in my new home that I bought 70% of the time, is that going to increase my rate of insurance. Can the insurer legally jack up the rate for that?
    I will not be there all the time--9 days a month I have to be in texas for work,
    thx!

  • #2
    I wish to inform you that terms of your insurance may determine your premium. If you do not remain in premises then your premium may be affected as you may have to include unoccupied or vacant home insurance premium. Your premium is based upon risk to your property. Your stay may reduce risk of property while vacant house insurance may add to your premium.

    AFF

    Comment


    • #3
      Originally posted by 3 pak View Post
      If I live in my new home that I bought 70% of the time, is that going to increase my rate of insurance. Can the insurer legally jack up the rate for that?
      I will not be there all the time--9 days a month I have to be in texas for work,
      In the abstract, it's legal for your insurance company to raise your rates if something becomes an underwriting issue that increases the risk. I don't see that happening for being away 9 days a month.

      However, you should read your policy as there are some "gotchas" in there.

      If you are away during the winter make sure your heat stays on so your pipes don't freeze and burst. Or turn off the main water valves at the house and at the street. Let the pipes drain. In other words, winterize your house even for 9 days. If you don't take the precautions and your pipes burst and flood the house you won't be covered.

      Install a burglar alarm with cameras that communicate with, and can be controlled by, your cell phone. Take whatever precautions against theft that you can think of. A theft claim will certainly raise your rates.

      I don't see the need to pay for a vacancy/unoccupancy endorsement as the standard homeowner policy allows for 60 days before any exclusions kick in.

      Again, read your policy.

      And check your deductible. Make sure that it's not so high that it comes back to bite you. There is not a big difference in rates between $500 and $1000. Not enough of a discount for $1000. Ask your agent to compare rates between the two.

      Comment

      Previously entered content was automatically saved. Restore or Discard.
      Auto-Saved
      Wink ;) Mad :mad: Big Grin :D Frown :( Embarrassment :o Confused :confused: Smile :) Stick Out Tongue :p Roll Eyes (Sarcastic) :rolleyes: Cool :cool: EEK! :eek:
      x
      Insert: Thumbnail Small Medium Large Fullsize Remove  
      x

      the color of a banana is... (write the answer twice with an "@" between the words)

      Related Topics

      Collapse

      Working...
      X