Hello everyone! My wife and I moved from Houston, TX USA to Mannheim, Germany earlier this year - it's been great so far! I am on a 4 year assignment for work, then we will move back (somewhere) in the US. So, we still own our home in Houston, TX, but we sold our cars. It's pretty liberating and awesome to not have a car and still be able to get around.
Question 1: Auto Insurance
As mentioned, we sold our cars before moving to Germany, and haven't (and don't plan to) purchased cars here. However, I maintained my US auto insurance through Progressive, since I may drive rental cars or my parents' car when visiting the US during holidays. I really want to cancel the insurance, but I kept it to ensure I have liability coverage (accident coverage can be achieved with credit cards I have, or at worst case, including it in a car rental agreement). Is there a way I can cancel my expensive Progressive insurance but still somehow be covered with some sort of liability insurance in case I drive a car in the US or abroad?
Question 2: Home Insurance
As mentioned, we still have our home in Houston, TX. We have tenants renting the home. The tenants have home/renter insurance on the home. However, I maintained my same exact home insurance converage on the home. Is there a better / cheaper insurance coverage for a home you have tenants living in who have their own coverage? I know it is wise to still protect myself with insurance on the home, but are there better strategies for this to save money?
Thanks for the help!!!
US Car insurance, now living in Germany
Car insurance is generally tied to the VIN. Your parents should check with their carrier about occasional driver coverage. You can always add to the standard rental coverage.
Your home owner's does not cover tenants and tenant damages. Please get with your insurance.
If you are not using your cars , why pay auto insurance?
If you are planning to rent a car, you may purchase insurance from the Rental company for the car rented.
If you are receiving some kind of discount for bundling etc. you may contact your insurance company and explain your status quo.
If they are not cooperative move on to a better company such as Nationwide Insurance.
The cheap insurance companies such as Progressive , Geico and other company advertises with an emu, are not that user friendly when it comes to claims.
Thanks
In Germany, as in most countries, having car insurance is mandatory. The minimum required coverage is third-party liability insurance (Haftpflichtversicherung), which covers damages you may cause to other people and their property while driving. mckinneyandco. US Car Insurance can assist you in finding the appropriate coverage to meet these legal requirements.
However, I maintained my same exact home insurance converage on the home. Is there a better / cheaper insurance coverage for a home you have tenants living in who have their own coverage?
I'm in a very similar situation, and you should really have rental dwelling insurance, not just home owner insurance. Rental dwelling insurance insures the house and it also gives you protection from liability since the tenant can sue you for something happening in/to your house.
Re: Car insurance- I just get the coverage when I rent a car. As you said, depending on your credit card you might be able to be covered by them instead.
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