Homeowner's Insurance

Does homeowners insurance cover your mortgage if you are laid off?


Top Answer
User Avatar
Wiki User
2013-03-11 18:30:24
2013-03-11 18:30:24

No. This is not what homeowners insurance is for. Homeowners insurance is to pay for physical damage to your home and contents.

User Avatar

Related Questions

genius guy,i think its a good idea to get homeowners insurance. If you own the house outright, then no it is not required but if you have a mortgage, then the institution that made the loan most likely does require it. They already have laid out the monies for the real estate they do not pay to insure it also. You can add your taxes and insurance into an escrow account the will include those expenses with your mortgage payment, that you pay monthly so as at the end of the year you do not have to come up with two lump sums of big money. The bank or mortgage company see's to it that not only do your monies go to mort. but the other two as well...It makes things easier...

Having a mortgage repayment insurance policy can offer peace of mind to a worker who feels that they may be laid off. Several banks began offering mortgage repayment insurance as a way to help home buyers feel more confident about taking out big loans.

According to http://healthinsurance.about.com/od/healthinsurancebasics/a/COBRA_basics.htm cobra insurance is available up to 60 days after job loss due to being laid off, and the cost is similar to what you paid for your insurance plan prior to being laid off.

An insurance policy would be called standardized, when it covers all the salient international features/standards as laid down by the insurance authority of the country.

Depending on the plan you have purchased, you may or may not be covered. If you purchased a "Cancel For Any Reason" plan then you should be fine. You can find more info here www.tripinsurancestore.com/3/layoff.shtml

No. The only thing you might be able to collect is 'Disability Insurance'. Unemployment Insurance comes into play only when a person has been laid off from active employment - people are not laid off for medical illnesses.

Some boards may pass resolutions making this requirement, and the governing documents are specific about the percentage of owners required to vote in favour of such a resolution before it can go into effect. Insurance carried by owners protects not only the owners, but protects the association, because catastrophic damage is not generally limited by boundaries laid out in your governing documents. You can work with your broker to purchase the insurance necessary to protect your property and the common areas when your options are compared to what's already covered -- common areas, in the master policy. Your board cannot require that you over-insure, but best practices dictate that you insure so that there are no gaps in coverage.

You can compare and contrast different pet insurance companies by visiting www.petinsurancecomparison.org. They have them all laid out and listed so you can get the right insurance for your pet at the best price for you.

It depends on the size of the bricks and their orientation when they are laid.

In most cases health insurance is done through a monthly program. If the insurance company says you are covered, I'd say that they would know.

It depends how thick the gravel is being laid - at 4 inches thick, a cubic yard will cover 81 square feet.

Redundancy insurance is protection in case of becoming redundant, or getting laid off from, work. It pays a portion of your income, usually 75 percent, for a determined amount of time.

IRDA stands for Insurance Regulatory and Development Authority. It is the organization that supervises and regulates the Insurance Company's in India. It is similar to the Reserve Bank for Banks. All Insurance Company's are supposed to follow the rules laid down by them.

A 'cover' is the catering industries word for a table place in a restaurant or at a formal meal.The amount of cutlery laid out would depend on the number of courses to be served.

An insurance company can cancel your coverage for any number of reasons, all of which would need to be laid out in the policy (contract) that you signed with them upfront. The most common reason that a company would cancel your insurance would be for nonpayment. Other than that, you are probably safe unless you lied about something on the application.

The correct spelling is "laid".

These eggs may not be fertile. Leave them there and see what happens or maybe take them to a vet to be inspected.

He laid out his guns. John laid out the evidence.

No. In order to qualify you have to be laid off or otherwise fired without cause.

The past tense of lay is laid.

Portable supplemental life insurance is any individual life insurance policy that is not taken through an employer group. The employer provided life insurance coverage will be lost as soon as you change jobs, get laid off, fired or if you quit, while the individual life insurance policies will continue to stay in force regardless of your employment situation (providing you are paying the premiums on time).

No. not if you quit. For one to collect UI, they must have been laid off by the employer. The UI office will verify the information with the employer. If you voluntarily quit, you are not eligible for unemployment insurance.

It is a thin oblong piece of material, such as wood or slate, that is laid in overlapping rows to cover the roof or sides of a house or other building.

I laid my book on the table. Laid is a regular verb. The forms are lay laid laid.

Copyright ยฉ 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.