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Where You Reside – Common ‘Nonresidency’ Situations that can leave you without coverage in your Home Insurance Policy

Most people that own a home try to protect this asset from loss by purchasing a homeowners insurance policy that provides replacement cost coverage.  Unfortunately, most home insurance policies cover the dwelling ‘where ‘you’ reside’ and not necessarily just the dwelling that you purchased a home insurance policy on.  Many courts have determined that your coverage terminates if ‘you’ no longer reside in the dwelling.

These interpretations can leave many homeowners with significant gaps in coverage or without coverage all together.  This can become a huge issue in the event of a claim and the insurance company denies payment.  All the while…the insured had no idea there was a coverage problem.

The problem with the lack of coverage is that many homeowners will at some point in time face at least one or more of the (16) very common ‘nonresidency’ situations that Bill Wilson (Associate VP of the Big ‘I’ Virtual University) discusses in his article titled ‘Where You Reside’  – The “Where’s Waldo Catastrophic Homeowners Policy ‘Exclusion’ That Could Bankrupt Your Insureds?” http://bit.ly/bbxNkG

Naming just a few of these situtations – Rental, Vacancy, Divorce, Relocations – should hit home with just how easy it is to create a gap in your homeowners insurance policy.  This isn’t a short article, but it is one that could keep you from facing bankruptcy due to the denial of a claim.  At the very least, I would recommend looking over the 16 common situations, the examples associated with each, and possible remedies for these types of situations. 

It’s important to know that your policy will provide you with the coverage that you need when the time comes so please contact us if you are facing one of these situations.

Pinnacle Point Insurance is an independent insurance agency and we offer a wide array of insurance products throughout the state of Texas from reputable insurance companies.  We take pride in keeping our insureds informed and properly protected. 


Live Without Fear!