by smylynn17 » Thu Jun 17, 2010 05:18 pm
i have non-owner occupied property that I am renting out- different agents tell me different forms I need, differnt types of policies - what should I be shoppin for?
Posted: Fri Jun 18, 2010 12:17 pm Post Subject:
Just that a non-owner occupied policy. A dwelling only policy, landlords liability..used to be called b.450.b, in my neck of the woods 20 years ago..I have no idea what the form number is..but any agent should be able to help you.
Posted: Sat Jun 19, 2010 05:58 pm Post Subject:
Just contact any agent and tell them you need coverage for your rental property. They will want to know if it is tenant occupied and, assuming it is, you should have no problem. You cannot write a standard homeowners insurance policy on a rental property. So be sure to get the Rental Property Coverage in effect ASAP.
If you have Homeowners Insurance on your primary dwelling, I would start by contacting the company that handles that for you.
Posted: Mon Jul 02, 2012 09:15 pm Post Subject: vandalism and theft
I have a dwelling non owner occupied policy on rental property. This weekend we discovered while tenant was on vacation, someone came and totally destroyed my heating and air unit. parts all over the place where they tore it apart I assume looking for copper. I always thought dwelling policy covered dwelling and fixtures in the home?????? my company is telling me it does not cover theft and vandalism. the heating and air unit is a part of the dwelling. do i even have an argument?????????????? :cry:
Posted: Tue Jul 03, 2012 12:23 am Post Subject:
do i even have an argument
First, see my sig.
You don't have an argument if what they are telling you is correct, that the policy does not cover theft or vandalism. Have you looked at your policy?
Posted: Thu Jul 12, 2012 02:34 pm Post Subject: it is not uncommon
for a renters polciy to exclude V&MM and theft. The policy usually has diiferent coverage options on the dec page such as option 1, 2 or 3. One will cover only fire lightning etc, Two usualy covers fire and extended coverage and three covers fire and extended coverage and theft and V&MM. Check which coverage you have on the declartions page
Posted: Tue Jul 17, 2012 01:10 pm Post Subject:
option 1, 2 or 3.
I think this may be an attempt to describe the differences between DP-1, DP-2, and DP-3 policies. Not really options within a single type of policy, but three different policy forms. It could be that the Declarations Page is "generic" and has a check box for DP-1, DP-2, or DP-3.
One must ALWAYS look to the CONTRACT LANGUAGE itself to know what is or is not covered.
Posted: Tue Jul 17, 2012 05:09 pm Post Subject:
No, not description of DP series. The dwelling policies, commonly referred to as standard fire, without liability, med pay etc built in have a dec page with the three options available. These policies are typically on older lower value risks. I work claims on these type policies almost daily.
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