Planning for Homeowners Insurance

[Txdebt]

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?

[despritfreya]

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.

[ValleYum]

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!

[AngelinaCat]

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.php?34621-Can-t-get-homeowner-s-insurance-after-BK

My rant begins with post #6.

Good wishes~~~~