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What happens if your house burns down and you have no insurance?
Wiki User
∙ 12y ago
you ring Laura brady
Wiki User
∙ 12y ago
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What happens if house burns down?
Well it burns, and then falls down. So people stop living in said house become orphans catch rare diseases and die.
If your home burns down and cars are in the garage which insurance policy pay for the autos?
Auto insurance and burn down everyone Else's house to make it equal
What does buying insurance is saving money mean?
It is not literally true that buying insurance is saving money. Insurance is designed to give you financial protection from specific problems. For example, if your house burns down but you have fire insurance, you will be compensated and will be able to buy another house. That would save you money, as compared to what would have happened if your house burned down and was not insured, forcing you to spend money on another house or some other form of housing. But if your house never burns down and you have fire insurance, then the fire insurance is just an expense, it does not save you money.
Can you buy a house and not want insurance?
Yes. If you pay cash for your house then you do not have to buy insurance. The only time you have to buy insurance on a house is if you take out a mortgage, the lender will probably require you to have insurance. That is in case the place burns down, it protects the banks collateral.
Why would a lender pay the homeowner insurance?
Actually, the home owner pays the home owner's insurance. The lender has an escrow account. This is in additional to the payment of interest and repayment of principal. The escrow account pays the taxes and insurance. The escrow account pays the taxes so the government does not seize the property. The homeowners insurance pays in case the house burns down. So, you pay into the escrow account, and if your house burns down, the lender gets the insurance money. You would not pay a mortgage on a burned down house and the bank knows that, so they have you pay into the escrow account and they pay for the insurance.
What happens if you finance a home and it burns down?
IF the home is financed, the lender will require fire and hazard insurance. The policy will at a minimum cover the lender's cost.
What happens to the candle when it burns?
it goes down
Can a landlord re install a electric wall heater in clackamas county Oregon?
don't see why not,if he burns down the house that's what you pay insurance for.
Does homeowner insurance pay if your house burns down while in foreclosure?
No, Not to the homeowner, because the bank or morgtage company actually owns the house even if it was not in forclosure. Read your morgtage and insurance paperwork, you do not own it at all until it is paid in full.
Why do people need insurance?
So in case they get into an accident their insurance can pay for the damage. -becuase if you dont have insurens on your house and i burns down in a fire, you have to pay for it all by yourself. if you get in a car reck or if someone totals your car, you have to pay for the dammage. with ensurance you pay a monthly fee and if something like that happens your covered.
When does Sykes leave the house?
when it burns down
Mike hires Candy a real estate broker to sell his house The house burns down before being sold The existing agency agreement is likely?
Mike should have insurance on his house until the house is transferred to a new owner.
