- Thread starter
- #61
Quote:
If you do this, furnish it lightly (thrift shops?) and stay over once in a while. You'd have to for insurance anyway, most likely. Some insurance policies consider a residence as empty if not stayed in for a certain period of time (mine is 30 days). If no one is home for 30 days, then I have to buy supplemental insurance or they will not cover the house or contents if something happens during that period!
By staying over once in a while you could call it a second residence.
Your insurance company may also have some issues with the plan. You should also look at the laws and talk to your insurance agent about what constitues "attractive nuisance." A good umbrella liablity policy would also help. If you plan on selling any livestock/agricultural products from your farmette, it could also change your liability. Talk to your insurance agent...
I am not too worried about Liability I can get a farm policy that will cover any products I sell (I am not really to that stage yet, I just want to house the few animals I have now). With living over a barn there is the issue of fire hazard because there will be hay stored in the barn. We will have to put up a fire barrier between the living area and the barn, but we should be able to get insurance. I wouldn't call it a second residence; the insurance would be more expensive even if I was there every 30 days, because a second home is not always occupied. We plan on letting my sister live there so it will be occupied all the time, but we would probably have to get a landlord policy. I actually was going to be an insurance agent at one point (I got my license and everything) I just never went through with it. So I know a few things about insurance.
If you do this, furnish it lightly (thrift shops?) and stay over once in a while. You'd have to for insurance anyway, most likely. Some insurance policies consider a residence as empty if not stayed in for a certain period of time (mine is 30 days). If no one is home for 30 days, then I have to buy supplemental insurance or they will not cover the house or contents if something happens during that period!
By staying over once in a while you could call it a second residence.
Your insurance company may also have some issues with the plan. You should also look at the laws and talk to your insurance agent about what constitues "attractive nuisance." A good umbrella liablity policy would also help. If you plan on selling any livestock/agricultural products from your farmette, it could also change your liability. Talk to your insurance agent...
I am not too worried about Liability I can get a farm policy that will cover any products I sell (I am not really to that stage yet, I just want to house the few animals I have now). With living over a barn there is the issue of fire hazard because there will be hay stored in the barn. We will have to put up a fire barrier between the living area and the barn, but we should be able to get insurance. I wouldn't call it a second residence; the insurance would be more expensive even if I was there every 30 days, because a second home is not always occupied. We plan on letting my sister live there so it will be occupied all the time, but we would probably have to get a landlord policy. I actually was going to be an insurance agent at one point (I got my license and everything) I just never went through with it. So I know a few things about insurance.