All Forum Posts by: Owen Rosen

 Depends what we're trying to cover.  Coverage for those vehicles?  They need proper car insurance and they need to indicate to their insurer where the cars are garaged/stored.

 It's a type of "Dwelling Policy."  I wouldn't worry too much about this terminology though as different companies have different names for similar things.  Insurance jargon is annoying and many terms are synonymous or just plain confusing.  Work with a knowledgeable independent agent.

 Where is your property?

This is somewhat hard to follow but I think what you're saying is that your business partner filed a personal articles insurance claim and they ran a loss history report on your partner when applying for insurance on this duplex?

Is the duplex owned by an entity or partnership of individuals or...?

Many companies when applying for a dwelling policy will run an insurance score and loss history report (CLUE report) on an individual in control of the entity even if the policy will be in the name of a business.  Apparently, State Farm is declining coverage for one unrelated claim which is quite hilarious but perhaps there are unsaid reasons for that or other past claims.

Anyway, if you apply for the insurance either as the individual named insured or as the person in control of the entity the claim your partner had would never come up.  That said, depending on the carrier, the pricing might be different with you as the insured vs. your partner if the carrier uses insurance scoring.

 Lots of companies offer dwelling policies that accommodate personal or entity owned properties.  Deductibles vary by carrier, state, property.  State Farm would vary by state as well on things like the minimum deductible.

 Doesn't work that way in terms of being more expensive. Without underlying coverage, an umbrella won't apply.  

An independent insurance broker should be able to provide coverage.

 Yep, and some brokers represent some of the companies that also sell directly and we do it with better service.

 Work with a broker...but you'll always have to identify how and changes to how you use a property.  That's how they price the risk.

 Vacant property insurance in and of itself is not enough to cover during remodeling.  It depends on what work is being done and the rules of the particular insurance company/policy.  Talk to your agent and don't try to hide material facts about what you're planning to do.  Will only cause issues in the long run.