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Is it better to have life insurance coverage or decreasing mortgage coverage?
Wiki User
∙ 12y ago
This depends upon your individual circumstances. Different people have different insurance needs.
Wiki User
∙ 12y ago
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What is the rate of mortgage insurance?
Let assume any of the mortgage insurance firm. That is going to depend on the amount of coverage, your age, health, gender, and a few other items. It is usually better to deal with your insurance agent on this rather than the mortgage company. If you mean do mortgage insurance, this is a product that insures the lender against default by the borrower. The rate for that product depends on the amount of the loan vs. the property value, the type of loan and the credit score of the borrower.
Is cheap insurance coverage really better?
yes it is much better.....until you get sick...
Should I buy mortgage insurance?
In some cases, you are obligated to by the lender to buy mortgage insurance. However, if given a choice you are better off buying an insurance that covers a variety of needs and is not just limited to one specific area such as mortgage.
Is it necessary to purchase mortgage payment protection insurance when buying a home?
"Mortgage payment protection insurance is essentially a form of life insurance. If something happens to you, your mortgage payments will be covered under the terms of your insurance plan. This insurance is definitely not necessary, and, in fact, a more standard plan like term life insurance may get you a better value for your dollar."
Does paying more for car insurance benefit you if you're in an accident?
Paying more for your insurance doesnt gurantee any better coverage or better protection in an accident.
Does homeowners insurance pay your mortgage payment if you are on Workman's Compensation?
No; homeowner's insurance is property coverage. Many forms of it do provide liability coverage (to defend and indemnify you if someone is hurt on the insured premises and you are determined to have been negligent), but in no case does it make payments of debts that you owe, such as a mortgage. You would need to allocate a part of your worker's compensation payment toward the payment of the mortgage, or, if you have applicable short or long-term disability insurance, you could utilize that. Alternatively, there are specialized individual insurance policies that can be purchased andthat are designed specifically to pay your mortgage for a period of time while you are disabled. If you are already injured and being paid workers compensation benefits, however, there may be a question of whether you will be accepted for such coverage, at least with respect to the current injury/illness. Insurance is generally not available to cover an ongoing loss/injury/illness unless it was in place before the loss/injury/illness began, because insurance by its nature covers fortuitous, not known, losses. You may be best advised to contact the mortgage holder, explain the situation, and determine whether the missed payments can be added to the back end of the mortgage. While not ideal, it is far better than foreclosure.
What are the benefits of a commercial liability umbrella insurance?
Commercial liability umbrella insurance has many benefits to the company. The liability umbrella insurance is pretty inexpensive compared to other coverage policies. It also provides better protection and coverage.
Is mortgage life insurance a better option than life insurance to pay off mortgage in case of death of spouse?
Impossible to say if mortgage life insurance will yield a higher payout upon one's death than a regular life insurance, it depends upon the face amount of each policy in-force at the time of death. If both death benefits are equal, then one is no better than the other.
What is the cheapest car insurance you have paid?
The cheapest car insurance is call Cheapest car insurance. But cheaper is not always better and when it is going to help you with paying of damage i would spend more money to get better coverage.
What mortgage protection policies would the average homeowner need?
Not every person needs mortgage protection insurance. It is typically used to pay your mortgage with your life insurance policy. That money would probably be better spent on your family who can spread the money out for food and utilities.
Cheap Insurance Is Better Than None?
Health insurance is expensive, but if you have to go to the doctor, you will need some type of coverage. If you don't have insurance, you will have to pay out of your pocket for the care that you are given. States are starting to offer low cost insurance to people who need it, so check with local health departments and hospitals to get more information. Even the most basic health insurance coverage is better than nothing.
Which company offers the most affordable automobile insurance for teens?
I went with Progressive Insurance. Their quote was less with better coverage than Geico and Nationwide.
