Homeowners Insurance

O and L stands for Ordinance and Law. Though your agent said that it wouldn't cover code upgrades, perhaps he meant that if a code went into law, your insurance isn't going to accept claims to upgrade the home and bring it up to code — unless your home suffers a loss.

Thanks for your question. It sounds like you would want a standard HO-3 homeowners policy that would allow for short term rentals.

What kind of insurance you need depends on a few factors of your rental. For insurance, a million in liability may sound like a lot but for most businesses, this is just a starting point because the risk of lawsuits and other exposures are so much higher.

Thanks for the question. I see no issue with you being on the insurance if you are on the deed to the property.

This entirely depends on the date of the loss, i.e. when the home burglary happened.

It is challenging to say which insurer would be the best for bundling multiple lines of insurance. Most companies would likely give you multiple policies to cover your vehicles, RV, and homes.

As long as you're on the deed, you do not need permission from all parties to change your homeowners insurance if it is in your name. Anyone with a vested interest could also insure the property how they see fit.

Previous claims can affect your ability to get homeowners insurance. Particularly, it will affect your rates.

Thanks for your question. Whether or not your property is covered really depends on your homeowners insurance company.

Parents are not eligible for USAA. USAA eligibility flows "downstream" — so descendants, i.e.