Homeowners insurance

deannaberg

Hi there! I've attended a few in-person support groups, but just learned about the online forum. So happy to join this community!

My LO (mother) recently had her drivers license revoked and is worried / fixated that her homeowners insurance will go up if the carrier finds out about her diagnosis. (It's bundled with her car insurance, which I'm about to cancel once her car is transferred.)

1. Are we required / should we report her diagnosis and adjust homeowners coverage in any way?

2. If we don't report and they somehow find out, will rates automatically increase or impact potential claims later?

Thank you so much!
db

Ed1937

Db, this is only a guess. I don't think you have to let them know about her diagnosis. You can just tell them she isn't driving anymore, and decided to give up her driver's license for a state I.D. It's just a personal choice for her. But I am not a lawyer, and I am not in the insurance business. So take what I say with a grain of salt. You will surely get other opinions.

Welcome to the forum. Sorry you need it.

M1

Her premiums will in fact go up if you don't reinsure the car.

Quilting brings calm

The homeowner premiums will go up because she gets a discount for having multiple policies with them. Probably 8-10%. But on the other hand, she won’t be paying the car insurance so her total cost will be less than what she is paying now. You do not need to tell them her diagnosis- just that she doesn’t own the car anymore and won’t be driving. If for some reason they need a DL/ID number for the homeowners policy, just give them the state ID number when you get it.

deannaberg

Thanks for these insights! We actually plan to keep the car to get her to places she needs to be because I drive a 2-seater that is too hard for her to get in and out of!

The current plan is to register and insure her car through me without any details to the current carrier. She understands the increased costs of unbundling her coverage and is willing to pay, but we weren't clear on the homeowners increasing specifically because of the diagnosis. Since she is currently not at risk of driving on her own (too afraid of fast cars and getting lost) and willing to cover costs to keep her vehicle, I feel like this approach will help her transition through so many losses to her independence and dignity.

sandwichone123

I'd talk to the insurance agent about the options and how much each one would cost.