When I was in the process of attaining homeowners insurance for a new construction house we were purchasing from a builder I was asked a bunch of questions about the house. After we moved in I realized that I had incorrectly told our new insurance agent that we would have an electric water heater and electric furnace (I swear the builder told us this, but maybe not), however both are run on propane. We moved in about 5 months ago. I meant to deal with this sooner, but it completely slipped my mind with everything going on during and after the move. Do I need to call/email my agent and let him know about this discrepancy? If so could this have a premium impact, cause the policy to get canceled, etc.? Thanks for your time.
Gave some incorrect information when obtaining homeowners insurance
byu/FunInception inInsurance
Posted by FunInception
3 Comments
You should let them know as soon as possible, it would depend whether they would have accepted this as a new business with a propane heater. Provided you explain it was a mistake they may be able to let you continue until renewal or if it’s still acceptable you might just have an increase to premiums
Call your agent, they should be able to process an endorsement to change that detail with you on the phone. There may be some carriers that don’t accept propane heat in which case you’d need to shop around, but I think it’s more likely you’d see a minor premium change.
Yes, let them know. We don’t know how it will impact your premium, if any.