Got a questions on a home owners policy. We own 2 houses our old vacation home has now become our primary residence. Our other home is now being occupied by a immediate family member. My AAA agent is telling me that the home that we are not in needs to be converted to a renters policy. Its not a rental though and i have no intentions of renting it in the future. Once the family member can move on it will just be sold. Do i really need to make it a renters policy? Why would it matter when we had our vacation home up north they both were listed as residential occupied, why change it now?
Went through this recently with our house in TN that is unoccupied and on the market to be sold. Per our insurance company it needed to be converted to a rental property policy to maintain full coverage. I argued, but was told, "Them's the rules." I respect the company we deal with (USAA), so that's how it is.
I just was told by a contractor I work for that he can't cut me a check because I let my gl expire.I asked him what the difference is between buying millwork from me, or homedepot. He didn't know.. I called my insurance guy to find out. Apparently, I'm supposed to carry product liability which is covered under my gl policy. So I asked him the home depot question and why a certificate is not required from them. He said "they are legally obligated to have product liability insurance from all of their vendors. It is assumed homedepot always has coverage. It is just assumed that you do not." Nice huh? At least he was honest.
