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paulsonlaw
Member
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# Posted: 8 Jan 2010 03:07pm
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After building our cabin, we ran into one issue...
GOOD INSURANCE!
We researched several companies & talked to about 30 & got no where. It was either to small in sqft or being I did all the work no one would touch it as "I'm not certified so how could I have any idea how to do it." Today we found that Allstate offer Personal Property Insurance. For $24 a month we are covered to 50,000. Given we must have all receipts & they only cover purchased property, all the parts & everything in it. It does not include all the hard work lol. As we built on the family farm we are not the deed holders nor do we rent so it was a hard find.
Just wanted to let you all know as many insurers do not cover hand made cabins like ours. *** If you think yours does read the fine print in your packet as you might be paying for something that if & when needed isn't there for you. It's their job to save themselves money!
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elkdiebymybow
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# Posted: 8 Jan 2010 03:36pm
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I'm running into the same problem. Our cabin is not built on a foundation, no water, no electricity. It would probably be about an $80,000 loss if it burnt to the ground and we had to hire someone to rebuild. I have been struggling to get it insured. thanks for the Allstate tip as I will definitely look into the coverage they have.
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paulsonlaw
Member
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# Posted: 8 Jan 2010 04:10pm
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that si one sweet cabin! More pics?
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flatwater
Member
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# Posted: 9 Jan 2010 01:30pm
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Insurence is always a problem when your isolated. Thanks for the allstate tip. There is also the assurance method but it only requires faith.
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lawnjocky
Member
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# Posted: 9 Jan 2010 06:48pm
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Insurance companies provide the only service you pay for that you always have to sue to collect. In the legal trade insurance defense attorneys are the proctologists of an already lowly profession. Simply stated they are the scum of the earth.
That said, look at your exposure. If your construction costs were low it may make sense to take a chance on the loss of your cabin in the event of a fire but buy liability protection using an umbrella policy to protect against claims by third parties for injuries.
Another approach is to hold the property in some sort of limited liability company. This protects your other assets against claims arising form the property. I do this. The down side is it is one more tax return to file. In some states like California there are other tax benefits as well. There your property tax is based on the purchase price. If you have the property in an LLC you can sell the company, not the property (the property stays under the name of the LLC) thus the tax stays the same. This can save the buyer thousands of dollars a year and the savings make the sale more valuable thus more dollars in your pocket. There are things you can do with limited partnerships that protect against liability and allow you to sell to family members or others at a discount of up to 40% in some cases thus saving on gift or estate taxes.
Jocko esq
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Jerry
Member
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# Posted: 10 Jan 2010 11:37am
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I ran into the same issues with my cabins - one I'm using, the other I'm building. The cabin I'm using was built in the early 50's, and the roof is a little swayed, but still sound. Had an insurance guy up and he said they won't even insure a building without engineered trusses, or stamped with an engineers approval. That eliminates both cabins unless you want to pay big premiums and not have coverage for the roofs. No thanks. I finally got insurance on the older cabin - no one I checked with will insure a building under construction, but I know the premiums are going to continue to go up until I'll have to make different arrangements. This world is getting more confusing every day.
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flatwater
Member
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# Posted: 10 Jan 2010 07:35pm
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jerry, it's not getting confusing , it's just getting more greedy. Besides getting a handle on government we need one on insurance company's as well. The best insurance you can have is common since planning for fire etc;
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elkdiebymybow
Member
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# Posted: 11 Jan 2010 05:26pm
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Paulsonlaw-
Check out the pics I have in the 'Member's Project and Photo' forum under LOG CABIN. There are several posted there.
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Fallscahild
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# Posted: 14 Mar 2011 07:31am
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March 2011, I just ran into the same problem. Even the company that had insured the property for 15 years with the former owners have now declined to comtinue insurance with me. Therre issues: I have a wood stove and monitor to heat a one room cabin. The insurance company claims that I do not have a central heating system. How much more "central" does a one room building need? Another company that I have used for over 30 years withother homes had issues with no foundation and a front door without stairs. A third company refused because I plan to do some work on the cabin. How did they know? When they made a site visit there was a step ladder and some boards inside the cabin. (I wasputting up paneling). Other issues with companies: no indoor plumbing, need a new roof, half the house extends out into space. The small barn and work shed don't qualify. Not sure why not. They are simply square, solidly built buildings. Oh, one company refused because I have 2 horses. I will call Allstate. Thank you for the tip.
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Anonymous
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# Posted: 16 Mar 2011 11:46am
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We just got some liability insurance for the property plus an extra $10 000 in case of an absolute disaster for about $100/year. It was sort of added onto our main home insurance, but the address shows up as a separate property on the same contract. Had no issues with the insurance company. They just asked how large was the structure and the size of the property. I think liability insurance is more important. We are in Canada in case that makes in any kind of difference.
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nicalisa
Member
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# Posted: 7 Apr 2011 09:16pm
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In BC they allow you to tack on liability plus a $$ amount for a second property onto your primary insurance. a few extra hundred a year.
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Gunpowder
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# Posted: 29 Nov 2011 11:13pm
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Our quote for our 1834 cabin restoration was $600/yr from Farmers Insurance. Too rich for our blood at the moment. (We are a nonprofit nature park).
The cabin is oldest building in county and has original doors, stairs to second floor and original cabinet on main floor that the chimney is supported by on the second floor. cabin is 18 x 18m tulip popular. We replaced 1/3 of logs from property. Local historical society sold it to us for $1.
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wakeslayer
Member
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# Posted: 30 Dec 2011 04:44pm
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I was able to get insured thru Dairyland. Mostly for fire or theft. They will not cover snowload damage. I have an A-frame for my wife and I's little cabin, and a bunkhouse for our kids and guests that is bigger than ours. It is about $1000 per year. If I recall correctly, it covers $80k on the A-frame, and $60-65k on the bunkhouse. My solar control shed is also covered under this.
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trollbridge
Member
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# Posted: 30 Dec 2011 04:49pm - Edited by: trollbridge
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wakeslayer-
I just figured out you are in Mn. we are in Wi. Do you have electricity and plumbing at your cabin? What about a wood stove? We still need to find decent insurance coverage for our cabin and bunkhouse.
Oh and welcome!
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wakeslayer
Member
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# Posted: 30 Dec 2011 04:59pm - Edited by: wakeslayer
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Trollbridge,
Thank you. I was just referred here yesterday by a coworker. It's like this site was made for us. I love it.
We live in MN, but our cabin is in the far reaches of North Idaho.
I am solar powered 110v, propane fridge, gravity water, and woodburner in the Aframe. Bunkhouse is propane stove heated so kids and guests do not have to mess with logs and real fire. No water but it is powered.
Mike
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trollbridge
Member
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# Posted: 30 Dec 2011 05:09pm
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Hi! Wow...that is a far away from home cabin!!! Where in Mn do you live? You should post pictures of your cabin under members projects cause we all find pictures and cabins interesting to look at :) Have fun here...there is a TON of good info and great people to get to know!
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flicker
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# Posted: 16 May 2012 10:21pm
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Any know how to get liability coverage only for a small cabin in Wisconsin. It has electricity, running water and no foundation. The building is not worth much but the liability insurance is essential.
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Montanan
Member
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# Posted: 16 May 2012 11:36pm
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We were able to obtain insurance from USAA for our cabin (electricity, running water, pier block foundation.) It is inexpensive, too. If you are a member, give them a try. It's a great company.
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DaJTCHA
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# Posted: 18 May 2012 06:12pm
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I guess I'll count myself fortunate, I called my insurance agent (Erie Insurance) and told him of my recreational property and filled him in on the details of the "Shed Mahal" and for $65 / year I have a rider on my home insurance that covers the entire property and structures up to $110K total loss, provides a 1 million dollar injury insurance and $500K hospital bills and emergency room costs and with only a $250 deductible.
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Anonymous
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# Posted: 21 Jun 2012 09:42pm
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Wow! Can I get your agents number?
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DaJTCHA
Member
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# Posted: 22 Jun 2012 10:14am
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Erie Insurance is the company...
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Anonymous
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# Posted: 11 Sep 2012 06:55pm
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My mother is currently in escrow on a log cabin in the Frazier Park area in California and can not find a provider to insure her investment. Can anyone direct me to a carrier in California that will cover her property for loss, theft, liability? twowheeltom @ hotmail . com
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toyota_mdt_tech
Member
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# Posted: 12 Sep 2012 02:44pm
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I permitted mine, built it on a foundation, hired a professional builder, built to plans (still have) and it was all signed off by the county. But because I do not have power, telephone line or within 1 mile from a fire hydrant, they wont insure me.
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toyota_mdt_tech
Member
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# Posted: 12 Sep 2012 02:48pm - Edited by: toyota_mdt_tech
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Quoting: flatwater jerry, it's not getting confusing , it's just getting more greedy. Besides getting a handle on government we need one on insurance company's as well....
I'd bet the insrtuance companies are just covering their butts because of the actions of some lawyer somewhere. Now there is the real scum of the earth.
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Anonymous
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# Posted: 12 Sep 2012 03:25pm
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Self insure. Put the money for premiums in a fund and in a couple of years you will have enough to cover most of the common claims: new roof, siding, tree damage, water damage, etc.
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silverwaterlady
Member
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# Posted: 12 Sep 2012 09:03pm
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There was a guy on here that had no insurance and his cabin burned down. After all his hard work and money. I guess he couldn't afford to rebuild and also what if someone gets hurt on your property? Than what? There is no way you are going to have that much in a fund!
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Anonymous
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# Posted: 13 Sep 2012 03:34am
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There must be a company that will insure you Toyota you will just have to do a lot of research. But be prepared for the cost. It will be very high. We are remote with the same type of cabin and pay 1600.00 per year on a log cabin insured for 250,000 plus contents.
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241comp
Member
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# Posted: 13 Sep 2012 08:48am
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The Kentucky Farm Bureau recently issued coverage on my cabin for all tree, weather, natural disaster and fire related damage (no vandalism or contents coverage, except arson) for an annual premium of about 1.5% of the value coverage amount. State Farm of Ohio extended my liability umbrella policy to cover my property so I did not need to purchase liability insurance from KYFB, but it was available at additional cost.
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hilltop
Member
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# Posted: 22 Sep 2012 08:47am
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In NY Erie and NY Property Insurance Underwriting Association will cover remote cabins
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CaptainJ
Member
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# Posted: 28 Nov 2012 12:48pm
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Another company you might want to check with is Auto-Owners Insurance. When I bought my cabin and property, Motorists Mutual that I had on my main home, declined coverage. Auto-Owners now covers both and didn't have a problem with the dry cabin, no water, no electrical service, no foundation, etc. They did an inspection and were very happy with the wood stove installation and metal roof in particular. They are covering the cabin at $55,650, out buildings at $11,130, personal property at $39,000 plus Liability and Medical payments for a premium of $529 per year. It would have been lower but due to the distance to the nearest Fire Department it cost an extra $150.
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