0
No. Homeowners insurance provides property and liability loss insurance. It is not life or disability insurance. You can purchase a term life insurance policy that decreases in coverage along with the mortgage balance on your home. You can even purchase a joint policy that would pay the house off when the first person (like and husband and wife) dies then the policy would cease. This type of policy is cheaper than purchasing two seperate life insurance policies and still does what you want it to do, that is not leave the surviving spouse with a large mortgage balance on the home if one of you dies before the other.
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
Does house insurance cover a mortgage if the holder dies?
NO Home Owners insue covers the Home. You might look to Mortgage Insurance for paying a mortgage.
Will homeowner's mortgage insurance pay for failing drainage pipes under foundation?
Mortgage InsuranceNo, Mortgage Insurance is NOT Homeowners Insurance. Mortgage Insurance does not cover your home at all.Mortgage Insurance covers your finance note, not your home.
Does home owners insurance cover murder?
no
Does your home owners insurance cover your foundation?
No.
Does home owners insurance cover generators?
Your homeowners insurance covers your home structure.
Does home owners insurance cover lost jewelry?
Only if you had your jewelry appraised and included it onto your home owners insurance
Do you have to have home insurance in Colorado?
Home insurance is not required by any state law. Typically only a mortgage company will require home owners insurance.
Does home owners insurance cover vandalism?
I beliieve it does.
If your tree falls on someone elses vehicle will your home insurance cover it?
You home owners liability insurance should cover it.
Does home owners insurance cover water damage caused by the neighbor?
cover
What does an FHA borrower's housing expense include?
You mortgage princple and interest, property taxes (city and stae if applicable), fha mortgage insurance, home owners insurance and any fees due for a community (home owners asociations).
Do you need home owners insurnace after you pay off your mortgage?
You don't HAVE to cover your property with homeowners insurance once your home has not mortgage but you could lose everything if you had a fire or if someone was injured on your property. Some HOA's require some type of insurance on every property regardless of mortgage. Its not a wise decision to drop coverage.
