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Question for the Money Doctors

Question submitted on Oct 5, 2012.


I recently bought a house and I am going to remodel it and add a small addition. It is a 1905 structure and it needs quite a bit of work before I can move in.
I am having a difficult time with homeowners insurance companies providing me with a policy.
They have told me that I have to be living in the dwelling in order to provide me with coverage. I don''t think I can move in for four months. There is a lot of abatement to be done ie asbestos, etc. electrical has to be brought up to code. I know that the contractors have to carry their own insurance but I need to have a policy to protect myself against loss as well. Help me out here.
Thank you,


Simply explain to the insurance company that you ''are" living there. Have all ypur mail sent there and make THAT your new legal address.

The place where you''ll be sleeping at night is like a "vacation home/hotel" while you renovate.

It''s semantics but legally this will do it.

For example, While I am away on vacation my residence is still my house despite my being in another state and I still "live" in the house.

When homes are remodeled quite often this happens. While you may live elsewhere and have work done, you are are still considered "living there" despite the fact that you sleep elsewhere for several months.

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