Does Anybody Go Without Homeowners/Property Insurance?

[TheMan419]

Can it be coverage from another company? Or for things the base coverage does not cover?

It can be from another company. Umbrella is excess coverage. For example my auto insurance is $250K of coverage. If I am in a bad accident and damages are higher than that the umbrella kicks in and has an additional $1M of coverage. The umbrella policy usually has a high deductible. That is why you increase the limits on your auto ins or homeowners or whatever.

 

[TomSeller]

It can be from another company. Umbrella is excess coverage. For example my auto insurance is $250K of coverage. If I am in a bad accident and damages are higher than that the umbrella kicks in and has an additional $1M of coverage. The umbrella policy usually has a high deductible. That is why you increase the limits on your auto ins or homeowners or whatever.

Good to know. I think I will take one out.

Anyone lease property for hunting and have difficulty finding insurance?

 

[rekees4300]

Dad is a WWII Veteran and one of my friends said if Dad ever had a USAA policy I could sign up... so I provided his discharge papers and it was still a no go...

Did they explain why it was a no go?

 

[rekees4300]

Good to know. I think I will take one out.

Anyone lease property for hunting and have difficulty finding insurance?

Good move. Having the public on your property is just asking for problems. Somebody steps in a hole, trips over on a rock etc. etc. will cost you big time.

 

[ultrarunner]

Did they explain why it was a no go?

Dad was not an officer and had not joined USAA when during the brief period when the officer requirement was waived briefly back around 1999-2000

 

[TheMan419]

Good to know. I think I will take one out.

Anyone lease property for hunting and have difficulty finding insurance?

We have a friend who wants to hunt deer on our property. Talked to our insurance company. They told us that as long as no money exchanged hands my homeowners policy covered. As soon as money changed hands it was a business and we needed commercial coverage. I did not ask the cost because we were not charging our friend. However I did get the impression it was available if you wanted to pay a steep premium.

I would not let someone "play" with guns on my property without coverage.