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Insurance... advice?


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So we're building an Accessory Dwelling Unit where our garage used to be. This unit is actually getting its own address number, two stories, 4 bedrooms. So our single-family property is now a multi-family property.

I called up the insurance company (USAA) and started asking, and I was informed of the following:

Because we are going from one family to three, we would no longer fit the contract for a homeowner policy, and would switch to a "rental policy, owner-occupied." And it turns out that USAA's contracts for such things do not cover theft. And there's no way to add a rider or anything to cover that, at least through USAA.

So now I'm trying to figure out what to do.

  • Ditch USAA for homeowners' coverage entirely and find someone else.
  • Go ahead and buy it and just risk that we don't get robbed.
  • Buy USAA, and find another separate theft-only policy (does this even exist?)
  • Is there another option?

Note: In California, so regs for that state apply.

Tips? Advice?

Edited by Rimbo
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Sell the home and find a new property with some privacy?

 

BTW, you should probably post this on TexasAgs - I would suspect that you would get dozens of PMs.

Edited by Bevo
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15 hours ago, Rimbo said:

So we're building an Accessory Dwelling Unit where our garage used to be. This unit is actually getting its own address number, two stories, 4 bedrooms. So our single-family property is now a multi-family property.

I called up the insurance company (USAA) and started asking, and I was informed of the following:

Because we are going from one family to three, we would no longer fit the contract for a homeowner policy, and would switch to a "rental policy, owner-occupied." And it turns out that USAA's contracts for such things do not cover theft. And there's no way to add a rider or anything to cover that, at least through USAA.

So now I'm trying to figure out what to do.

  • Ditch USAA for homeowners' coverage entirely and find someone else.
  • Go ahead and buy it and just risk that we don't get robbed.
  • Buy USAA, and find another separate theft-only policy (does this even exist?)
  • Is there another option?

Note: In California, so regs for that state apply.

Tips? Advice?

Get renters insurance as secondary. 

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13 minutes ago, Rimbo said:

If I'm gonna talk to a different carrier I might as well insure the whole thing.

What? That would be complicated. Just get a renters policy for your stuff inside that isn't insured its not that crazy. 

Also why isn't a broker just doing this for you. 

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