by Guest » Mon Dec 30, 2013 10:16 am
Hi everybody,
Just wondering if anybody here had any problems getting/keeping his/her shop insured!! When my last homeowners carrier increased my premiums by over 100% without any prior warning, I started shopping for a new carrier. As of now, I’ve been turned down by more than 5 companies just because I have separate metal building on my property. Moreover, I’ve also been turned down because there is a pond within my property, as well as not having a fire hydrant within 500-1000 ft..
Things are just going out of control as of the tug of war between property taxes and insurance. Now I’m pretty much tensed about whether I’ll be able to retire in the coming months...
Just wondering if anybody here had any problems getting/keeping his/her shop insured!! When my last homeowners carrier increased my premiums by over 100% without any prior warning, I started shopping for a new carrier. As of now, I’ve been turned down by more than 5 companies just because I have separate metal building on my property. Moreover, I’ve also been turned down because there is a pond within my property, as well as not having a fire hydrant within 500-1000 ft..
Things are just going out of control as of the tug of war between property taxes and insurance. Now I’m pretty much tensed about whether I’ll be able to retire in the coming months...
Posted: Mon Dec 30, 2013 01:16 pm Post Subject:
Shop... as in a place you own in order to work or home... as in a place where you live?
I'm sure people have had issues. This is why you need a good local agent.
Posted: Tue Dec 31, 2013 05:28 am Post Subject:
any problems getting/keeping his/her shop insured!!
If you are talking about mixing a business activity with a homeowner's policy, of course there will be problems. If your "shop" is a hobby activity, such as woodworking or restoring old cars, that's some different, and other than additional premium to cover specialized equipment, it should not present a problem.A local agent or broker will solve the dilemma for you.
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