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If homeowner has died can you get insurance if their's has lapsed?
Wiki User
∙ 10y ago
Yes, of course. A lapse in coverage is a common occurrence due to so many reasons, usually it's just the the home owner forgot to pay the renewal bill, but yes there should be no problem replacing the coverage.
You just have to buy a new Home insurance policy. With a lapse in coverage you will likely loose your prior coverage discount (usually not more than 3 to 5 % of the total premium) and may have to sacrifice some of the coverage previously enjoyed n the policy depending on the age and other risk factors of the home.
Wiki User
∙ 10y ago
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Can you pay into an old policy if the policy holder died and the policy hasn't been paid in three years?
Most insurance companies wont allow a policy to be reinstaed after the policy has lapsed (or become paid up). once 13 months of premiums are missed usually the policy becomes lapsed and cannot be reinstated after this time.It is worth calling the customer reps for your insurance company who can confirm this.
Does an insurance company still have to pay a homeowners claim if it was filed before the person died?
Yes. The homeowner's claim could be pursued by their probate estate (executor or personal representative). Most coverage would not automatically terminate anyway at the death of the homeowner, so the estate of the insured person would be the recipient of any proceeds. Normally wills have language to address that insurance proceeds are payable to the named beneficiary of an asset in lieu of the asset if it is destroyed. And most homeowner's policies are for a defined term, so as long as the policy is in effect, it should cover a claim arising during that time period.
Does the homeowners insurance have to be in the name of the person on the mortgage if they died?
If the Homeowner has died you should notify the Insurance Company. Any policy issues can be handled by the estate executor. If you are an heir to a property in a jurisdiction that does not require transfer of deed until disposal you may purchase coverage as the owner. You should also contact The Mortgage Company. The deceased may have purchased credit life option on the mortgage finance note at the time of purchase. If So, the credit Life insurance may pay off any remaining balance on an existing mortgage note.
Does life insurance companies have to pay interest to the beneficiary if the policy holder died 17 years ago and the policy has just been found?
Not enough information is disclosed in order to offer an answer. Was the company ever notified of the insured's death? Who has been paying the premiums for this policy for the past 17 years? Are you sure it hasn't lapsed? What were the original terms of the policy? Too many un-answered questions - you really need to contact the insurance company for assistance.
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