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    Planning for Homeowners Insurance

    If I file a Chapter 7, is it likely my current homeowners insurance is going to not renew the policy due to this? I have USAA, pay through escrow and have never filed a claim.

    If so my understanding is it would be best to start a new 1 year policy right before I file to give me maximum time before renewal. Are there certain insurance companies that are likely to renew me despite the bankruptcy that I should look at?

    #2
    I have been in this business for over 25 years and I have yet to see an issue pop up with a homeowners policy and any client relating to the filing of a bk if premiums are paid timely.

    Since your insurance is paid through your mortgage escrow and you are current in your mortgage payments I wouldn't worry about it.

    Des.

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      #3
      You will lose your full-site online access with USAA. I pay online through their mobile site.

      No big jump on premiums - we have bought/sold 7 vehicles since discharge, added/kept a 1 million dollar umbrella liability policy and changed from a homeowners policy to a renters policy. All at premiums that could not be beat. YMMV. Good luck!
      ~~ Filed Over Median Income Chapter 7: 12/17/2010 ~~ 341 Held: 1/12/2011 ~~ Discharged: 03/16/2011 ~~
      Not an attorney - just an opinionated woman.

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        #4
        If you fall behind in payments, or try to go to another insurance company while in bankruptcy or after, you could have trouble--we did. See this thread:

        http://www.bkforum.com/showthread.ph...rance-after-BK

        My rant begins with post #6.

        Good wishes~~~~
        "To go bravely forward is to invite a miracle."

        "Worry is the darkroom where negatives are formed."

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