The dwelling coverage (coverage A) should equal the amount necessary to rebuild your house. Market value has nothing to do with it. However, if your house can be rebuilt for say, $150,000 and you have a $200,000 mortgage your mortgage company may require additional coverage beyond the estimated replacement cost. Remember the market value of your house also includes the dirt it sits on. There is no need to include the value of your dirt in the insurance policy unless required by the mortgage. Or due to a depressed market there might be a house that is only worth $65,000 on the market but would cost $125,000 to rebuild. This happens a lot in small rural communities.
FDIC only insures bank deposits. Insurance company obligations are insured to certain limits by state insurance guarantee boards. If you contact your state insurance department, they can provide you with the limits of that state's coverage.
There is not enough information to answer your question. Did this injury occur in the home or away from the home? Who was injured and how did it occur? Was an insured household resident injured at the insured home? A homeowners insurance policy often provides a small amount of medical coverage if the insured elected it at the time of purchase for minor household injuries but does not replace a medical insurance policy. Was a guest injured on the premises of the insured home? Homeowners insurance policies often provide Liability coverage if the insured elected the coverage at the time of purchase that might provide coverage if the insured home owner was at fault for the injury. You would need to check your home insurance policy or contact your agent to determine if you purchased medical coverage or liability coverage depending on what occurred and if so, what limits are available.
Your Homeowners insurance policy will pay for damages that result from the covered perils specified on your insurance policy subject to the policy limits and any deductibles listed therein.
You will just have to ask them for the insurance information. there is no central registry or database for homes and the insurance companies that insure them. You should first determine if your neighbor even has Liability insurance. Not all homeowners purchase liability coverage with their insurance policy. A home insurance policy can be bought with or without liability coverage. If the homeowner has elected liability coverage, The homeowners insurance policy will provide the homeowner with legal defense for the cost of defending against a suit that is brought against them claiming liability on the part of the insured. If the Insured is found at fault or liable in court, then their insurance company will cover the cost of those liabilities up to the specified policy limits. Alternatively you can sue your neighbor. Then If your neighbor has Liability coverage on his home insurance policy, You will then meet your neighbors insurance company attorneys in court.
It depends on who fell and why. Homeowners Insurance is Property InsuranceHomeowners Insurance may sometimes provide a very small amount of coverage for minor household related injuries for the named insured.Visitor injuries would be subject to home owners liability terms.Major Medical insurance provides comprehensive coverage up to the policy limits regardless of where a personal injury occurred.It's much better to handle it with your medical insurer.Answer.homeowners
You have to review your policy limits. Every policy is different.
Yes, but check your policy as there are limits and additional riders that may have to be purchased.
You can win an award for more than the insurance limits. Now, try to collect the extra directly from the insured. Good luck.
First off...there is a HUGE difference between a Quote and an Insurance Policy. A Quote is nothing more that an ESTIMATE for an insurance premium based on the information that you give an agent/insurance company. In regards to an valid insurance policy:A vehicle HAS to be insured the way it is registered....ie., husband & wife own a vehicle & it is registered in both of their names then the insurance policy should be in both of their names. Some companies allow just one spouse as a named insured but will list the both spouses as 'insured' drivers. Likewise, if a parent buys/obtains an auto loan with a licensed youth(such as a son/daughter) then the vehicle, again, should be registered in both names and both names should appear as the 'insured' on the insurance policy. Remember the 'named insured' on the insurance policy is covered within the limits set forth in the insurance policy.
"Bad faith" is a term usually used to describe poor conduct by insurance companies on a failure to protect the assets of the insured. A bad faith lawsuit is usually filed by a an insured against his own insurance company after the insurance company has failed to settle a claim by an injured person and the injured person then obtains a judgment or verdict against the insured in excess of the policy limits of the insured person.
Generally No. If you have already sued the Home Insurance Company, then you have already sued by default the Homeowner. You can not have sued one without already having sued the other. If a property owner is liable to you for an accidental injury, The home owner may have insurance to cover those liabilities. The insurance company would not be the cause of an accident. If you sue an insured homeowner, their insurance company is only enjoined in the suit by virtue of the coverage provided to their insured home owner who has been sued. The homeowners insurance company may cover the cost of defense of the suit filed against the insured homeowner and may pay awards or judgments up to the limits of the homeowners insurance policy on behalf of that insured homeowner. Bear in mind that the Insurance Company is not liable for an accident, The insurance company may be liable for damages and awards based on assertions and finding of liability on the part of the insured homeowner. If your suit failed (or you Lost the suit), Then that means the homeowner was found not liable for your injuries. If you have accepted a settlement from the insurance company, that settlement will have settled your claims against the homeowner.
No. The car is insured and your son's policy will provide coverage up to its policy limits.
An Umbrella olicy is financial protection that exends the covergage limits of underlying insurance policies of the named insured(s). If the insured suffers a loss that exceeds the limits of an underlying policy, the umbrella kicks in to offer coverage at the higher limit.
No. The only thing that matters is when you apply for life insurance is to tell them. There are limits on how much insurance you can get based on income and needs.
If the ring is a scheduled item on your jewelry floater it would be covered subject to applicable limits and deductibles.
Assuming you and our sons' father do not live together, the homeowners insurance will probably try to subrogate their losses by going after you or your auto insurance. What you have to look at is your property damage coverage. In the state of California the minimum liability limits are 15/30/5. The 5 stands for $5000, which is the most, your auto insurance will cover. Your limits may be different. Assuming you and our sons' father do not live together, the homeowners insurance will probably try to subrogate their losses by going after you or your auto insurance. What you have to look at is your property damage coverage. In the state of California the minimum liability limits are 15/30/5. The 5 stands for $5000, which is the most, your auto insurance will cover. Your limits may be different.
Payout is dependent on the sustained losses and coverage limits of the policy the insured purchased. There is no average.
This is a term used with respect to property insurance, such as homeowners policies. It refers to the maximum amount that the insurer will pay for the repair or rebuilding of the structure. The corollary is "contents limits" which refers to the maximum that the insurer will pay for the contents of the house or other structure. Sometimes, the contents limits have sub-limits such that only a stated amount will be paid for a stated category of items, such as electronics.
A life insurance trust is used to remove the assets and death benefit of the life insurance policy out of the insured's estate for estate tax purposes. If the insured were to remain the owner of the policy, the policy procedes would be estate taxable at the time of death. This is a non-issue if your assets are less the the allowable estate tax limits.
Umbrella insurance is an alternative security that offers extra coverage of liability beyond that of the homeowners or car insurance policy. Your home or auto plans kick in first if the unexpected occurs and you are sued, and your umbrella insurance protects the excess until the limits have been hit.
The driver who hit the pedestrian is liable, not their insurance company. The drivers insurance company will normally be responsible for payment of valid claims up to the policy limits for which the their insured driver is found liable.
Supplemental health insurance is important because many standard health insurance policies leave the insured open to large expenses. One cover with supplemental insurance, the insured have a way of covering expensive deductibles and out-of-pocket limits. Also, supplemental policies offer additional benefits such as cash payments while the insured is hospitalized. These policies usually clearly state maximum benefit amounts and hey benefits directly to the insured rather than to a third-party. These insurance policies are often offered through employer benefit options, but can also be purchased either directly or through an insurance agent or broker.
Most no fault insurance laws protect the not-at-fault party. Your insurance will indemnify your loss and penalize the un-insured motorist. DO NOT make outside deals with an uninsured person after an accident as this limits your ability to make claim.
No. Your homeowners insurance, If you have additional living expense coverage, will pay for the cost of hotels, motels or other living arrangements up to the specified limits when your home has been demaged by a covered peril and is no longer livable while repairs are being made.
Look on the declarations page (aka dec page). It will list all of the policy information including limits, deductible, and named insureds.