My parents added my name to the deed to our house so that when they passed ownership would transfer directly to me. I still live with them at the house. Does this qualify as 'owning my own home'? I have been trying to get a quote on motorcycle insurance and it makes quite a difference in the premium.
Rates are sometimes lower for homeowners because they are considered more stable and less of a risk to the insurance company. In my opinion, you should call the insurance company you're seeking a quote from and ask them exactly what the criteria is to be considered a homeowner for the purpose of your motorcycle policy. For example, is it enough that your name is on the deed? Does your name also need to be on the homeowners policy? Do you need to prove that the m*rtg*g* and other bills are paid by you?
The answers may vary between different insurance companies, but the claims agent should be able to give you the information you need so that you can make the best choice. Good luck.
Rider75
09-28-2009 @ 7:53 PM