Reply
Go Back   TexasBowhunter.com Community Discussion Forums > Topics > Around the Campfire
 
Thread Tools Display Modes
Old 02-10-2019, 07:08 PM   #1
RiverRat1
Pope & Young
 
RiverRat1's Avatar
 
Join Date: Dec 2007
Location: Leander
Hunt In: San Saba
Default House insurance questions

I do not want to mention a company name at this point. At least not until I get answers later this week. I'm asking here just to see if this is common and/or what my options (if any) are.

I built a house in the country at the ranch. Once complete we needed regular home insurance. So we get the usual spill from several insurance companies about bundling auto/homes to save blah blah.

So we choose one. A big name and rates were a lot lower than from the last one we used in the city on our older home. We had 2 cars, house in city and new ranch house (plus cabin at ranch and general liability umbrella).

So we get it all set up, cancel our previous insurance with the other company, and have been paying for Jan, Feb.

Now we are told since the ranch is in a family trust and not in our personal names they can't insure it so we will have to go through their commercial side/branch. I don't think I'm going too far out on a limb thinking it's going to cost more when I get the new quote.

It feels like a bait and switch. We basically fire our other insurance that we had for years and were friends with. Now what? I guess technically insurance companies can just raise rates at certain points anyhow.

But has anyone heard of having to go commercial when the property is in a trust?
RiverRat1 is offline   Reply With Quote Back To The Top
Old 02-10-2019, 07:11 PM   #2
brokeno
Ten Point
 
brokeno's Avatar
 
Join Date: Dec 2016
Location: Smiley, Texas
Hunt In: Gonzales & Young Co and anywhere
Default

No
brokeno is offline   Reply With Quote Back To The Top
Old 02-10-2019, 07:45 PM   #3
Johnny Dangerr
Pope & Young
 
Johnny Dangerr's Avatar
 
Join Date: Dec 2009
Location: Houston
Hunt In: Mainly Guide Now
Default

We tried to insure the cabin at the lease and no company would do it. Guess they figured we would burn it and get a free new cabin.................
Johnny Dangerr is offline   Reply With Quote Back To The Top
Old 02-10-2019, 07:50 PM   #4
Heath
Pope & Young
 
Heath's Avatar
 
Join Date: Oct 2006
Location: Midlothian
Hunt In: Woodson
Default

Quote:
Originally Posted by Johnny Dangerr View Post
We tried to insure the cabin at the lease and no company would do it. Guess they figured we would burn it and get a free new cabin.................


Liberty mutual insured our cabin.
Heath is offline   Reply With Quote Back To The Top
Old 02-10-2019, 07:52 PM   #5
Mike
Ten Point
 
Join Date: Oct 2006
Location: Orange, Texas
Default

No clue on the commercial underwriter but I do know that an uninhabited property can be hard to insure at a decent rate. I remember my parents always complaining about Rural Camp insurance. We had a lake house at Sam Rayburn and another cabin on the Sabine River. When my sister and BIL purchased a place on Toledo, they went through several agents trying to get a better deal but since it was not occupied 100% of the time and not a primary dwelling, it was a PITA.
Mike is offline   Reply With Quote Back To The Top
Old 02-10-2019, 07:55 PM   #6
Atfulldraw
Pope & Young
 
Atfulldraw's Avatar
 
Join Date: Oct 2006
Location: Hill Country
Hunt In: a high fence, southwest of DFW, Colorado
Default

Ours doesn’t care....it’s USAA and the trust is named on the policy,

I've heard of some people separating out a small portion around the house, put it back in your name then have your will create a trust upon your death.

Depends on why you have the trust in the first place, though
Atfulldraw is offline   Reply With Quote Back To The Top
Old 02-10-2019, 08:06 PM   #7
txtradesman
Ten Point
 
txtradesman's Avatar
 
Join Date: Aug 2009
Location: Austin
Hunt In: Texas
Default

Liberty Mutual here. Rates when up 15% on me this year. With multiple properties and autos it adds up.

Ive been with them for more than 10 years..

Last edited by txtradesman; 02-10-2019 at 08:43 PM.
txtradesman is offline   Reply With Quote Back To The Top
Old 02-10-2019, 08:30 PM   #8
rferg84
Ten Point
 
rferg84's Avatar
 
Join Date: Mar 2010
Location: Sweetwater TX
Hunt In: Nolan and Fisher Counties
Default

Quote:
Originally Posted by RiverRat1 View Post
I do not want to mention a company name at this point. At least not until I get answers later this week. I'm asking here just to see if this is common and/or what my options (if any) are.

I built a house in the country at the ranch. Once complete we needed regular home insurance. So we get the usual spill from several insurance companies about bundling auto/homes to save blah blah.

So we choose one. A big name and rates were a lot lower than from the last one we used in the city on our older home. We had 2 cars, house in city and new ranch house (plus cabin at ranch and general liability umbrella).

So we get it all set up, cancel our previous insurance with the other company, and have been paying for Jan, Feb.

Now we are told since the ranch is in a family trust and not in our personal names they can't insure it so we will have to go through their commercial side/branch. I don't think I'm going too far out on a limb thinking it's going to cost more when I get the new quote.

It feels like a bait and switch. We basically fire our other insurance that we had for years and were friends with. Now what? I guess technically insurance companies can just raise rates at certain points anyhow.

But has anyone heard of having to go commercial when the property is in a trust?

Yes itís quite normal for companies to not insure property in personal lines held in a trust or an LLC.

Did you disclose that up front with them?

You potentially could write it in your personal name with the trust listed as an additional insured.

There may be some ways around it but it is common for it to be commercial when held in a trust
rferg84 is online now   Reply With Quote Back To The Top
Old 02-10-2019, 08:53 PM   #9
txtradesman
Ten Point
 
txtradesman's Avatar
 
Join Date: Aug 2009
Location: Austin
Hunt In: Texas
Default

Dont know much about property in trust but have been back an forth with Insurance companies and in my experience Your old insurance company will gladly take you back and thers a good chance that you'll get a better rate then before
txtradesman is offline   Reply With Quote Back To The Top
Old 02-10-2019, 08:55 PM   #10
txtradesman
Ten Point
 
txtradesman's Avatar
 
Join Date: Aug 2009
Location: Austin
Hunt In: Texas
Default

There are a lot of 'sales' in insurance

Last edited by txtradesman; 02-10-2019 at 08:58 PM.
txtradesman is offline   Reply With Quote Back To The Top
Old 02-10-2019, 08:56 PM   #11
txtradesman
Ten Point
 
txtradesman's Avatar
 
Join Date: Aug 2009
Location: Austin
Hunt In: Texas
Default

..
txtradesman is offline   Reply With Quote Back To The Top
Old 02-10-2019, 09:00 PM   #12
txtradesman
Ten Point
 
txtradesman's Avatar
 
Join Date: Aug 2009
Location: Austin
Hunt In: Texas
Default

There are companies who make a fortune in 'reducing the amount you owe' after filing an insurance claim
txtradesman is offline   Reply With Quote Back To The Top
Old 02-10-2019, 09:05 PM   #13
deerwatcher51
Ten Point
 
deerwatcher51's Avatar
 
Join Date: Jun 2016
Location: Brenham & Richland Springs
Hunt In: Richland Springs & Washington on the Brazos
Default

Depends on the type of trust. If the true owner is a "trust", your house is not protected under the Texas homestead laws. We had a similar situation with our house we built in San Saba County. The underlying property was owned by a Limited Partnership that was owned by my wife and I. Farm Bureau insured the house with both the LP and my wife and I as insured. They were not real happy with doing that, we have been clients for 40+years. We have since surveyed the house and one acre and transferred to our individual names.
deerwatcher51 is offline   Reply With Quote Back To The Top
Old 02-10-2019, 09:07 PM   #14
txtradesman
Ten Point
 
txtradesman's Avatar
 
Join Date: Aug 2009
Location: Austin
Hunt In: Texas
Default

The point Im trying to make is that they will tell you what you want to hear just to get you to sign up. I log on to my Liberty Mutual account and they have me getting a UT Alumni discount and other things and I've told them that I have never been there before and have no affiliation with the University. If theres a problem I dont want for this to backfire on me.. They insist that everything is just fine
txtradesman is offline   Reply With Quote Back To The Top
Old 02-10-2019, 09:15 PM   #15
RiverRat1
Pope & Young
 
RiverRat1's Avatar
 
Join Date: Dec 2007
Location: Leander
Hunt In: San Saba
Default

Quote:
Originally Posted by rferg84 View Post
Yes itís quite normal for companies to not insure property in personal lines held in a trust or an LLC.

Did you disclose that up front with them?

You potentially could write it in your personal name with the trust listed as an additional insured.

There may be some ways around it but it is common for it to be commercial when held in a trust
No, I didn't tell them because I had no idea it mattered and they didn't ask.
I'll try to find a way around it.

Quote:
Originally Posted by txtradesman View Post
The point Im trying to make is that they will tell you what you want to hear just to get you to sign up. I log on to my Liberty Mutual account and they have me getting a UT Alumni discount and other things and I've told them that I have never been there before and have no affiliation with the University. If theres a problem I dont want for this to backfire on me.. They insist that everything is just fine
This is what ticks me off. Honest mistake? I hope so.

I just hope commercial is not that much more. Is that a wishful thought?
RiverRat1 is offline   Reply With Quote Back To The Top
Old 02-10-2019, 09:33 PM   #16
rferg84
Ten Point
 
rferg84's Avatar
 
Join Date: Mar 2010
Location: Sweetwater TX
Hunt In: Nolan and Fisher Counties
Default

Quote:
Originally Posted by RiverRat1 View Post
No, I didn't tell them because I had no idea it mattered and they didn't ask.
I'll try to find a way around it.



This is what ticks me off. Honest mistake? I hope so.

I just hope commercial is not that much more. Is that a wishful thought?
Not necessarily. It may work on your favor.

We consider Farm and Ranch policies commercial anyways so it may be semantics.

If you didnít tell them, I donít think they are pulling anything over on you.

Itís legit.
rferg84 is online now   Reply With Quote Back To The Top
Old 02-10-2019, 09:39 PM   #17
Artos
Pope & Young
 
Artos's Avatar
 
Join Date: Nov 2007
Location: Deep South TX
Hunt In: Deep South TX
Default

nope

fwiw, I don't have mine bundled so there is no hard set rule about that 'always' being the lowest.
Artos is offline   Reply With Quote Back To The Top
Old 02-10-2019, 10:17 PM   #18
Atfulldraw
Pope & Young
 
Atfulldraw's Avatar
 
Join Date: Oct 2006
Location: Hill Country
Hunt In: a high fence, southwest of DFW, Colorado
Default

Quote:
Originally Posted by rferg84 View Post
You potentially could write it in your personal name with the trust listed as an additional insured.
this is exactly what I see most often when a trust is named on a policy.
Atfulldraw is offline   Reply With Quote Back To The Top
Old 02-10-2019, 10:19 PM   #19
rferg84
Ten Point
 
rferg84's Avatar
 
Join Date: Mar 2010
Location: Sweetwater TX
Hunt In: Nolan and Fisher Counties
Default

Quote:
Originally Posted by Atfulldraw View Post
this is exactly what I see most often when a trust is named on a policy.
Rodís a smart man!

And sees more policies than most people 😁.

Personally that is how Iíd write it, if it were me.

Different companies have different guidelines though.
rferg84 is online now   Reply With Quote Back To The Top
Old 02-10-2019, 10:40 PM   #20
Atfulldraw
Pope & Young
 
Atfulldraw's Avatar
 
Join Date: Oct 2006
Location: Hill Country
Hunt In: a high fence, southwest of DFW, Colorado
Default

Quote:
Originally Posted by rferg84 View Post
Rodís a smart man!

.
I'm not so sure about that....there was that hunk of metal I tried to move halfway across the state.

Three flat tires, an overloaded tractor, and two busted jacks later, it finally got to where it was going, but it didn't make me look too smart a couple of times along the way
Atfulldraw is offline   Reply With Quote Back To The Top
Old 02-11-2019, 07:07 AM   #21
txtradesman
Ten Point
 
txtradesman's Avatar
 
Join Date: Aug 2009
Location: Austin
Hunt In: Texas
Default

Lol
txtradesman is offline   Reply With Quote Back To The Top
Old 02-11-2019, 07:17 AM   #22
mudbone
Eight Point
 
Join Date: Oct 2006
Location: Fate Tx
Default

Quote:
Originally Posted by txtradesman View Post
Liberty Mutual here. Rates when up 15% on me this year. With multiple properties and autos it adds up.

Ive been with them for more than 10 years..
I dropped them also, they will just get worse each year until you drop them. Seems they all start raising the rates after you have been with them several years and this disease happens with all insurance companies. I have dropped Liberty, Hartford and State Farm in the last 20 years. I am now with progressive but will probably have to eventually drop them to. I have had no claims with any of these companies, makes you wonder how it works doesn't it.
mudbone is offline   Reply With Quote Back To The Top
Old 02-11-2019, 08:42 AM   #23
RiverRat1
Pope & Young
 
RiverRat1's Avatar
 
Join Date: Dec 2007
Location: Leander
Hunt In: San Saba
Default

If you ever watched the Liberty Mutual commercials then you should know they are deceitful at best. I would never even consider them after watching that crap.
RiverRat1 is offline   Reply With Quote Back To The Top
Old 02-12-2019, 09:18 PM   #24
Huntindad
Pope & Young
 
Huntindad's Avatar
 
Join Date: Oct 2006
Location: Leander / Liberty Hill
Hunt In: Kerr county & TP&W
Default

Well... what was the answer???
Huntindad is offline   Reply With Quote Back To The Top
Old Yesterday, 10:03 AM   #25
RiverRat1
Pope & Young
 
RiverRat1's Avatar
 
Join Date: Dec 2007
Location: Leander
Hunt In: San Saba
Default

Quote:
Originally Posted by Huntindad View Post
Well... what was the answer???
Cabin and ranch came in higher than the original price for the new house, cabin, and ranch. They claim the house has to be a policy by itself since the cabin is used by hunters.

So looking like maybe double what I paid to start with...
RiverRat1 is offline   Reply With Quote Back To The Top
Old Yesterday, 10:51 AM   #26
toledo
Eight Point
 
Join Date: May 2010
Location: College Station
Hunt In: the road by your lease
Default

Everybody love to recommend things be held in an entity. What they don't mention is services consider it a business and charge more. CPA, insurance, etc.
toledo is offline   Reply With Quote Back To The Top
Old Yesterday, 11:12 AM   #27
RiverRat1
Pope & Young
 
RiverRat1's Avatar
 
Join Date: Dec 2007
Location: Leander
Hunt In: San Saba
Default

Any opinions on what I can do?
RiverRat1 is offline   Reply With Quote Back To The Top
Old Yesterday, 11:25 AM   #28
Spearchunker
Ten Point
 
Spearchunker's Avatar
 
Join Date: Sep 2009
Location: Rowlett
Hunt In: Unit 7 KS, Fannin Co, Grayson Co
Default

Farm Bureau will write it.
Spearchunker is offline   Reply With Quote Back To The Top
Old Yesterday, 02:12 PM   #29
RiverRat1
Pope & Young
 
RiverRat1's Avatar
 
Join Date: Dec 2007
Location: Leander
Hunt In: San Saba
Default

Quote:
Originally Posted by Spearchunker View Post
Farm Bureau will write it.
That's who's doing this to me.
RiverRat1 is offline   Reply With Quote Back To The Top
Old Yesterday, 02:36 PM   #30
Spearchunker
Ten Point
 
Spearchunker's Avatar
 
Join Date: Sep 2009
Location: Rowlett
Hunt In: Unit 7 KS, Fannin Co, Grayson Co
Default

Quote:
Originally Posted by RiverRat1 View Post
That's who's doing this to me.
wow..surprises me. Im no help.
Spearchunker is offline   Reply With Quote Back To The Top
Old Yesterday, 02:50 PM   #31
Huntindad
Pope & Young
 
Huntindad's Avatar
 
Join Date: Oct 2006
Location: Leander / Liberty Hill
Hunt In: Kerr county & TP&W
Default

ask your agent what your options are...and start looking elsewhere to see what other options are. that sux.
Huntindad is offline   Reply With Quote Back To The Top
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -5. The time now is 02:17 AM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2019, vBulletin Solutions Inc.
Copyright 1999-2012, TexasBowhunter.com