no. you are being reimbursed for your loss.
The leinholder is paid off first, then anything remaining goes to the homeowner. This is usually done with a check that is made out to both the lender and the homeowner.
Generally when a covered loss occurs
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Accidental, Yes. Intentional, No
Yes, as long as it was a covered loss. 4lifeguild
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Contact your insurance agent and have hin run a loss history on the property address
It does if the policy is current and there is adequate coverage. If the property is underinsured the insurance company will not pay for the entire loss. That all relates to the homeowner's insurance.If the mortgage is greater than the value of the property then you will owe the balance after the homeowner's insurance payment unless you have mortgage insurance.It does if the policy is current and there is adequate coverage. If the property is underinsured the insurance company will not pay for the entire loss. That all relates to the homeowner's insurance.If the mortgage is greater than the value of the property then you will owe the balance after the homeowner's insurance payment unless you have mortgage insurance.It does if the policy is current and there is adequate coverage. If the property is underinsured the insurance company will not pay for the entire loss. That all relates to the homeowner's insurance.If the mortgage is greater than the value of the property then you will owe the balance after the homeowner's insurance payment unless you have mortgage insurance.It does if the policy is current and there is adequate coverage. If the property is underinsured the insurance company will not pay for the entire loss. That all relates to the homeowner's insurance.If the mortgage is greater than the value of the property then you will owe the balance after the homeowner's insurance payment unless you have mortgage insurance.
600 to 570 is a 5% loss.
The profit and loss account is the account that can be used to calculate the net loss.
Most Polices indicate that the Homeowner report all losses at the earliest opportunity