Homeowner's Insurance
Liability Insurance
Home Equity and Refinancing

Can a homeowner buy a liability only policy?


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2011-03-09 04:22:46
2011-03-09 04:22:46

Your insurance agent will advise you of the bare minimum insurance you absolutely need, but you can be sure "liability" will be part of it, yes.

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No. you will need to buy a "Builders Risk" policy to cover liabilities associated with home construction.

No. there is no such thing as a retroactive homeowners insurance policy.

No homeowner policy will cover a vehicle that was stolen. Insurance varies from state to state but generally you can buy comprehensive protection only which will cover theft.

Well, Not really, When you buy a renters insurance policy you have to declare that you are a renter. If you have a loss and the insurance company discovers you lied, They will not be required to pay for any claims due to a fraudulent statement on your application.

Call an agent and ask, but I suspect you can not just buy liability insurance. You can buy a real cheap HO policy with minimal property coverage and max out on the liability. Why would you not want personal property coverage anyway? 4lifeguild

No, you need to read your policy and then buy a comprehansive coverage.

One can buy a public liability insurance policy online from many insurance companies. These include Hiscox, Axa Liability Insurance and Endsleigh. One can use comparison sites such as Compare The Market to compare prices and conditions.

Just buy a new policy. You may lose your continuous coverage discount but you should have no problem finding coverage.

You can purchase limited liability insurance from any company that sells a car insurance policy, so you will choose the level of coverage you want to buy.

You'll be fully covered only on the vehicles for which you choose to place full coverage insurance. The others will only be covered for liability losses if you only buy liability coverage for them.

Yes, The NRI's can buy the policy, but the scope would be limited to India only. The policy will stand null and void on a foreign ground and the policy premiums have to be paid in Indian Rupees.

This is a question that has no real answer. It's like asking whether apples or oranges are better. It depends on your situation. Liability only covers the person you hit and their damage if its your fault. It is usually required by state law in most states. Comprehensive and Collision are coverages that cover physical damage to your vehicle and are additions that are added to a liability policy. You can buy liability without Comp and Collision but not Comp and Collision without liability under most circumstances.

Yes, you can still purchase coverage. You may have to look a bit harder and have higher premium though.

The dwelling Owners policy does not cover the property or liability of a tenant. Rental dwellings are covered under a Dwelling Policy that covers rental properties not a homeowners policy. If the tenant seeks coverage, the tenant must buy his own Renters Insurance Policy.

cyber liability insurance is a policy designed to protect an insured business against the risks associated with online activities. These risks may include getting sued for transmission of a virus or accidently posting personal client information on the web or defaming a third party on your company blog or a social network. Insurers who provide this cover have their own cyber liability insurance policy documents/wordings - all of which are individual and different. Talk to a broker - ideally a cyber liability specialist or direct to major insurers to find a policy that suits your requirements. Beware to read the policy document - especially the exclusions before you buy!

Yes, buy a cheap car that you only need to have Liability Insurance on. It is Collision Insurance that will cost you allot. Of course you are taking a chance if the driver wrecks the car and it is the driver's fault. But by only having Liability you save plenty on insurance.

Personal liability is just that ! It does not provide for business related activites. If you want to be covered for business related activites you will need to buy a policy that coveres business related activites. If you are engaging in the business of tree trimming for money you need a COMMERCIAL GENERAL LIABILITY.

no coverage at all. Call an insurance company before hand and set up a binder policy at least for the liability.

Very possibly. Talk to a lawyer if you have concerns and buy a personal liability policy giving you a million dollars or more of liability coverage to protect your assets.

Homeowners insurance covers the house itself should it be damaged. Many of the policies include liability insurance so that if anyone is injured there you have protection. There are some types of mortgage insurance that cover the remaining mortgage should the owner die. But, if the lender does not require it due to a low down payment, one would have to specifically buy that.

Generally, you can't buy comprehensive without first buying liability coverage. Liability covers damage you do in an accident if it is your fault. Comprehensive will not even pay for your vehicle in an accident. It only covers fire, theft, vandalism, animal collision, etc.

Normally it is not covered by a CGL policy. However some carriers can add this coverage by endorsement. The recomendation would be to buy a stand alone professional policy. they normally provide broader coverage. Review the policy carefully as these can be very complicated and are normally written on claims made basis instead of a occurrence form. Make sure you clearly understand the differences or you could be caught without coverage at some point in time.

You can only buy new Trader Joe's gift cards in stores. That's their policy.

When you buy an option, you are buying an asset, and do not have a future liability. When you write an option, you are potentially incurring a future liability Thus you need some assets to back this liability.

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