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I am purchasing a second home near Canyon Lake, Texas. This house will be occupied by me or my immediate family approximately 50% of the year. The other half, I plan on short term rentals (3-5 days at a time). What would be the appropriate insurance(s) for this? I also plan to live in this second house full time in approximately 5 years, if that makes any difference.

Answer:

as the owner and in the event you owed a second/third party you must have an insurance, regardless you want to rented later, the renter should have rental ins on his/her own. If you do not owed such property to a second/third party, is just a good precaution to have it insured. no change will be necessary once you moved into it permanently later as you said just an update.

What state do you live in? It is expected to rise up to 85%in Florida and we would like to compare. Florida answers are welcome as well.

Answer:

So many things depend on price, so you can’t really use this as an example. It varies on your state, your credit, your age, your fire protection class rating of the local responding fire department, value of the home, which form of a homeowners policy you choose (there are different forms giving more coverage), your deductible, prior loss/claims history, age, multi-policy discounts, age of home, what types of animals you own, updates to the home, how much personal liability coverage you added, and other coverages you may select or exclude

Yes, Florida is likely to see a drastic rate increase because of all of the hurricanes and claims paid last year. You should check with an indpendent agent, rather than a captive agent, who can write with several different companies and provide you the best coverage and price package for your needs.

Check out the link below to get you to BB&T Insurance Agency. There are 2 in Florida (Tallahassee and St. Petersburg) and a toll free number to call the Florida Insurance Service Center.

I hope this helps you.

I am thinking of making money with waxing.

I was just wondering how much it would cost me to pay insurance for myself, I am thinking I just need errors and omissions (i.e. liability in case a client decides to sue me).

FYI I live in Canada.

Thanks!

Answer:

You’ll need “trip and fall” coverage, also, and property coverage. And your homeowners will probably cancel you, if you run a salon out of your house.

Salon coverage is pretty cheap; even with professional liability, with “one chair” you can probably find it for around 0 a year.

A coworker once told me that once you’re labeled as a homeowner, your car insurance rates go up b/c you can be sued for your house. Is there any truth to this? If it matters, I live in NY.

Answer:

No I think it lowers your insurance all together. A package deal. That doesn’t even make sence about being sued for your house..because if you were sued for your house (which could only happen if you didnt have insurance)-then that would mean that the auto insurance wouldn’t have to pay themselves!

I live in middle england in a detached 4 bedroom house. I think my contents insurance in too low. What is the average contents valuation for my size house?

Answer:

Depends if you have specified items of exceptional value such a jewellery, paintings, antiques., these can be separately shown on your policy…. excluding these maybe £30,000 should cover it….go around with a calculator and work out how much the main things would cost…carpets throughout, curtains, furniture, electrical goods, cutlery, bedding, beds, pots and pans, will be surprised how much it is…better to have more than less and generally insurance companies will not pay out more than a specified percentage on one item…
Also check if the Policy is linked to inflation, or on a new for old basis…lots to look into.

Hi, I found a couple of termites in my house and can I just let them destroy the house so that I could claim the insurance or is that not allowed?

Answer:

Nope, you would be out of a house. Why would you want to live in a place that is infested by bugs?

Answer:

if you have squatters, then you don’t live in the home. therefore you cannot carry homeowners insurance. if the home is vacant, you would need to carry a vacant dwelling policy in the property. if you have a homeowners policy on it then they can deny the claim because you don’t live int he home.

the garage is all torn down, the home itself is in bad shape, according to the county appraisal the “grade” for the house is a D. we have tried to do the repairs ourselves, saving receipts and everything but it has gotten to the point where its too much to handle. by the way i live in houston, texas.

Answer:

No, it won’t. Here’s how it works: you apply for the policy, you send in the full premium amount. You have to declare damages on the application. Within 10 days, they send an inspector out to look at the premises. They give you a list of repairs that YOU have to make, at YOUR cost. They give you 30 days to make the repairs, and if it’s not done, they cancel your policy.

You have to pay for your own repairs and maintenance.

i live in ms and could fly in and drive it home. what sort of dot stuff would i need ?

Answer:

How can I get it installed so I can progress to the next page of my home insurance quotation

Answer:

It’s a bad idea to get quotes online. Call a few of the big companies and get quotes from a live insurance agent. It does not cost any more than doing it on line yourself. Start with calling your auto insurance company for a quote. You get discounts by keeping your auto and homeowners insurance with the same company.

And, you can get some free advice from an insurance agent to help you. And, try the post office website to see if they have changed your zip code.