No. To cover mortgage debt an insurance company can write a life insurance policy on the mortgage holder/s. This policy usually is a term life insurance policy that in the event of death pays the balance due on the mortgage at the time of death. The term of the policy would be the length of the mortgage and the policy value decreases as the mortgage is being paid off by the policy holder, eventually expiring at the end of the term along with the mortgage. Since the benefit paid under this type of policy is constantly being reduced, and eventually becomes zero, the premiums are considerably lower than a whole life policy in which a fixed sum is payable on the death of the insured.
Theft will be covered by most auto insurance policies as long as you have full coverage insurance. It will not be covered if you only have liability or basic coverage.
As lame as it sounds: It Depends. Check closely your home owners insurance coverage policy which will lay out all of the things that will be covered. A basic policy, for example, usually covers water damage from rain, but not water damage caused by water collecting on the ground. That would normally be covered by a separate flood insurance rider.
Virtually always. Any reputable company holding a mortgage on your house will require you to have homeowner's insurance, at least to the value of the mortgage. The only exception is for a mortgagee with sufficient assets to self-insure.
Yes, because the only basic requirements regarding WHO can apply for a mortgage is that they must be the owners of the property and have the ability to pay the debt. To refuse to loan money to someone who meets those basic requirements would be discrimination. Commercial lenders approve unrelated owners of property for mortgages on a regular basis. That is not an issue in the mortgage process.
Yes, if you own a home, homeowners insurance is definitely recommended, if not mandatory by some mortgage lenders.
A Direct Endorsement (DE) underwriter's basic responsibility is to review/certify mortgage loan origination documents for compliance with the requirements of the Federal Housing Administration's mortgage insurance program.
You will need the basic liability insurance. This means that you will be covered for the other person's car if you are in fact responsible for the accident.
If you have paid off your mortgage and do not have a lien on the home you are not required to have insurance in most placed. But only a fool would not have basic homeowners insurance even if they were not required to. What if your home burns down?
"Basic" is vague. Generally speaking, there are two main categories of insurance: liability (which covers other people) and comprehensive (which covers your vehicle). If you have liability insurance only, it most likely won't cover theft of your motorcycle. You should talk to your insurance agent to be sure that what you want covered is covered, and that you're not paying for coverage you don't want (and aren't legally obligated to have).
No, you are not protected from a flood with your basic homeowners insurance. Most companies that sell homeowners insurance will probably sell flood insurance as well, but it will be it's own purchase.
This depends on the plan that you are enrolled in. However, this is a basic component of most hospital indemnity insurance and it should be covered.
Profit margin Advertising Covered by insurance No false Advertising