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Does A person who rents a residence not need to have property insurance?
A person who rents a residence can obtain "renter's insurance". That kind of coverage protects the tenant's contents (personal property). The owner of the building is ordinarily responsible for maintaining insurance on the structure.
Are personal injury and property covered under liability?
If the injury and property damage is to that of another for which you are at fault "Legally Liable" then yes. If the injury is to the insured(s) yourself or your own property then no. it is not possible to be liable to ones own self.
Does the building owner s property insurance ever cover the tenant's personal property?
Landlords contents and communal contents may be insured, but it is very unlikely that the tenants personal items would be included on a general buildings policy.
Does renters insurance cover accidental damage to a TV that is in the insured residence and owned by in the insured?
Yes, renters insurance typically covers accidental damage to personal property, including a TV, as long as the damage occurs within the insured residence. However, it's important to check the specific policy details, as coverage can vary between providers. Certain types of damage, like those caused by negligence or specific exclusions, may not be covered. Always review your policy or consult your insurance agent for clarification.
Will a homeowners insurance policy cover for an accident to an insured off property?
There is no coverage at all for an accident to an insured either off property or on property. A Homeowners policy provides coverage for structures, personal property, additional living expenses due to loss, liability coverage and medical payments. There is coverage away from premises for insured personal property provided it is due to loss from a covered cause. Coverage is generally limited to 10% of coverage C and if it is theft, insured must be temporarily residing where the theft occurred. The liability coverage provided by the policy covers the insured away from premises. These all are general statements and there are exclusions so the policy should be consulted.
What does an insurance company do with salvaged personal property?
If an insurer pays for the total loss of personal property, including a car, it usually becomes the owner of the property as part of the resolution of the claim. The property is then sold so that the insurer may recoup some of its loss. There are some entities, such as scrap metal companies that deal in that kind of property. Under some circumstances, the insured wishes to keep the property. That can usually be negotiated, but the payment to the insured on the claim may be adjusted accordingly.
Can an home insurance policy be cancelled after lack of contact with client?
Yes, You should always keep your contact information up to date with your insurance Company. Lack of or inability to contact the insured can indicate abandonment of the policy or abandonment of the insured property or a change in residence status.
Should spouse be named insured in they don't own property?
Yes, a spouse can be named as an insured on a policy even if they don't own property. This can provide them with coverage for liability and personal property within the household. Additionally, naming a spouse as an insured can help streamline claims processes and ensure both parties are protected under the same policy. It's advisable to consult with an insurance agent to understand the specific implications and benefits.
Why does a tenant need a certificate of insurance?
Landlords generally require a tenant to have a certificate of insurance showing that the tenant has personal belongings insured, as the landlord's policy doesn't cover personal property of the tenant.
Does homeowners insurance in Washington state cover anything stolen on your property even even if it does not belong to you?
No. Your homeowners insurance coverage is specific to the named insured(s). It does not cover the property of another.
Is there a difference between who owns a boat and who it is insured to?
Yes. Most companies will not insure an individual with a boat or any property if there is not a financial interest between the property & the insured. More specifically, it has to be titled and/or registered to the listed insured on the policy.
What do you do when an Uninsured driver hits an insured driver on private property?
The insured drivers uninsured motorist coverage should take care of it. Doesn't matter if property is private or not.
