USAA Homeowners insurance and lease terms.
recently purchased a 4plex in HB, Ca.
We are on state farm insurance and everything is fine, decided to shop around and noticed that USAA is lower with similar level/amounts.
USAA however required that all tenants i forget the exact phrasing but something like "tenants for at least 6months"
Now i said that my tenants have been there for over 10 years, and are technically on month to month now. I did make 3/4 sign a new lease for 12 month terms, but the 4th I did not make them sign yet.
USAA said they have to be on AT Least a 6month lease.
I said that they were previously on 12 month leases but are now month to month.
Can u guys comment?
Does anyone have USAA insurance for 4plex?
Do you guys make everyone re-sign their leases at 12 months and make it another 12 months?
or is this insurance salesperson mistaken?
He says u dont actually show the lease its just a good faith/honest thing.