No, Your homeowners insurance is a type of "Hazard Insurance", you must continue to make your mortgage payments as usual.
If your policy contains "Loss of use" coverage, then your insurance will cover the cost of temporary housing within policy limits, allowing you to continue making your mortgage payments.
NO, not unless it is a total loss. If your house is being repaired by your insurance policy you must continue to make your mortgage payments.
No.No.No.No.
Many times when you buy a home, your mortgage broker will have a line on reasonable house insurance rates. This is because they cannot finish their sale without it being insured. I would ask your mortgage agent.
No, an insurance company can not force you to rebuild your house after a fire. They can tell you how much they are willing to offer you for the damage on your home. At that point you can decide whether to rebuild or move.
If you have a mortgage, the money goes to the bank and they release it when the house has been rebuilt and inspected. If you own the place free and clear, then it is your choice.
Only if they had mortgage insurance.
In the United States, there is no requirement to have house insurance. However, most banks and lending institutions require you to have insurance while there is an outstanding mortgage on the house. Once you have finished paying off the house, you don't have to maintain the insurance. However, it is a good idea to continue the insurance plan if you can afford it. Without insurance, if your house burns to the ground, you are left with no place to live and no money to purchase or rebuild.
NO Home Owners insue covers the Home. You might look to Mortgage Insurance for paying a mortgage.
The dwelling coverage (coverage A) should equal the amount necessary to rebuild your house. Market value has nothing to do with it. However, if your house can be rebuilt for say, $150,000 and you have a $200,000 mortgage your mortgage company may require additional coverage beyond the estimated replacement cost. Remember the market value of your house also includes the dirt it sits on. There is no need to include the value of your dirt in the insurance policy unless required by the mortgage. Or due to a depressed market there might be a house that is only worth $65,000 on the market but would cost $125,000 to rebuild. This happens a lot in small rural communities.
To work the rebuild cost of your house for insurance purposes, you can compare your house to new builds in your area. Then, see the average price per square foot to build a new home in your area. This will be close to your rebuild cost.
the house payment
If the mortgage is in your name it would not be affected by the death of your spouse. Mortgage life insurance is coverage that is taken out so that your house would be paid for in the event of your death.