Insurance... advice?

[Rimbo 25908]

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 October 11 by Rimbo

[Bevo 13557]

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 October 12 by Bevo

[tx 3 putt 76859]

3 hours ago, Bevo said:

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.

 

rimbo is a sheep ?

[immamac 42832]

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. 

[Rimbo 25908]

On 10/12/2024 at 6:08 AM, immamac said:

Get renters insurance as secondary. 

Naw, they won't do that (I asked).

[immamac 42832]

1 hour ago, Rimbo said:

Naw, they won't do that (I asked).

From a different carrier? How the fuck would they know 

[Rimbo 25908]

4 hours ago, immamac said:

From a different carrier? How the fuck would they know 

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

[immamac 42832]

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. 

[Rimbo 25908]

Never needed a broker before. USAA, until now, was good enough.

[thunderlounge 7812]

@C-Man to the Burnt Orange courtesy phone. 

[C-Man 27182]

16 minutes ago, thunderlounge said:

@C-Man to the Burnt Orange courtesy phone. 

LOL -- we've already traded DMs.

[UTPhil2006 3801]

10 minutes ago, C-Man said:

LOL -- we've already traded DMs.

Sales never sleeps 

[C-Man 27182]

Just now, UTPhil2006 said:

Sales never sleeps 

You're goddamn right

[thunderlounge 7812]

24 minutes ago, C-Man said:

LOL -- we've already traded DMs.

Hope you’ve straightened him out, and glad you’re here.