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Does homeowner's insurance cover the mortgage and line of credit?
Wiki User
∙ 9y ago
Homeowners insurance covers the home up to the specified limits, If there is a covered loss to the property, the insurance company will pay either to fix it or pay the policy limits if a total loss.
If there are known liens on the property then they will pay the liens first in place order, or until the funds are exhausted, any remaining funds would go to the home buyer.
Wiki User
∙ 9y ago
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Does homeowners insurance cover foreclosure?
No. Homeowners Insurance does not cover the owners default on a mortgage note.
Does homeowners insurance pay your mortgage if you become disabled?
Homeowners insurance does not cover your mortgage if you become disabled. You would need to obtain mortgage protection insurance for that.
Will Homeowners insurance reimburse for mortgage during renovation?
NO, your homeowners policy will cover 'additional living expenses' but will not cover your mortgage.
Does homeowners insurance cover your mortgage if you are laid off?
No. This is not what homeowners insurance is for. Homeowners insurance is to pay for physical damage to your home and contents.
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.
What kind of insurance would cover a mortgage in the event of a spousal death?
Credit life insurance, Mortgage insurance, or decreasing term insurance.
What type of account is held by the mortgage lender and used to cover property taxes and homeowners insurance?
escrow
Does homeowners insurance cover your child damaging the neighbors vehicle?
No, Your homeowners insurance does not cover vehicle damage. That's what auto insurance is for.
Does homeowners insurance cover sprinkler system?
Your homeowners insurance should cover damage to your sprinkler system if the cause of the damage is covered by your homeowners insurance policy such as fire, lightning, freezing of pipes, etc. Homeowners insurance is not a maintenance policy and will not cover mechanical failure of your system.
Does homeowners insurance cover hospital from a car accident?
No, Homeowners insurance is for the house. it does not cover cars or car accident claims.
Does homeowners' liability insurance cover personal injury on another property?
No, your Homeowners Insurance will not. Your Medical Insurance Will.
Will homeowners cover tire theft?
Homeowners insurance does not cover automobile nor there parts.
