If you do not get another policy the mortgage company will procure its own policy which will only cover your home. The policy covers the bank's interest, not yours. For example, if your home burns down, the "forced placed policy" will not cover any damage to your contents.
As long as we pay our dues on time the policy remains in force. The moment we stop paying our premiums the policy lapses and the insurance cover provided by the policy becomes nullified. A lapse occurs when premiums are not paid even during the grace period. The life cover continues during the grace period whose duration varies based on the type of policy and premium payment frequency
Usually an insurance policy lapses when there is not enough premium paid or not enough cash value to keep the policy in force. So, if the policy lapsed, there is no refund owed to the policy owner if the policy had no "Return of Premium" or any cash value left. The premiums already paid into the policy were used to cover for the amount of time since policy issue until the moment it lapsed.
It is based on the covered perils of your individual policy. The number and type of covered perils varies greatly from policy to policy, company to company, and endorsement to endorsement. It is pretty standard that most policies at the very least cover Fire, Theft, Wind, and Hail. Some policies cover much much more, such as Water, Collapse, Riot. If you have a policy, look at the covered perils section. If you don't have a copy of your policy call your agent and request one.
yes, up to what the policy limits are which is typically the entire amount.
No, but if you have a home warranty policy that policy may cover it.
If they are not on your policy then they are not covered.
There are millions of things that a homeowners insurance policy does not cover. To find out what it does cover just read your policy, anything not on there is not covered.
Nope, a homeowners policy does not cover the home owner.
Your comprehensive coverage porportion of your policy may cover the critter damage depending on the terms of your policy.
If you are driving the car it may cover you, but it won't cover a car unless it is on your policy. Depending on your policy it may not cover you either. Some insurance policies don't cover you if you allow another driver other than yourself to drive your car. Check your policy.
A homeowners insurance policy will cover the interests of the named insured on the policy. It does not matter if the insured is a student or not.
Homeowners insurance does not generally cover the murder of a person listed on the policy. For that, you need life insurance.
If you have wind and hail coverage on your policy and the detached garage is a covered structure on that policy then Yes, your policy would cover the damages.
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An open policy and an open cover have the exact same meaning. They both cover loss or damage to goods that are being transported by a specific carrier but they differ in a manner where in Open cover is not an enforceable contract but an agreement and open policy is an enforceable contract of insurance.
My policy with Progressive/Homesite does not. They point to policy language neglecting to cover cosmetic damage. Not too happy with them.