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There is nothing special about a home insurance owner. It is simply a person that has insured their home which 99.9% of people who buy a house do. Without home insurance one has no protection in case of damage or theft.
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∙ 10y ago
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Who needs home owner insurance?
as everything you need insurance to protect you from things that can happen to something so you'll get a reduction on the full price of it. your insurance company will pay for it. you should get home owner insurance to help you in accidents and to be safe.
What is the cost of title insurance in Massachusetts Plymouth county for a 355000.00 home?
Most lender insurance is $2.50 per $1000 of the loan and owner's insurance (which includes lender's insurance as well) is $3.75 per $1000 of the sale price of the home plus $175. It's not fixed or regulated in MA, so prices may vary. So, if you paid $355,000 for a home, owner's & lender's insurance combined would be $1,506.25 at these prices. If you got a loan for 95% of the cost ($337,250) and didn't want owner's insurance, the cost of lender's insurance would be $843.13. Lender's insurance is mandatory, owner's is optional. Owner's lasts until you sell the home, I believe lender's would have to be purchased again if you refinanced.
If your new home owners insurance policy rate are too high do you have to accept it?
You don not have to accept a home owner's Insurance policy that you deem to be too high. Your mortgage company generally will require you to have home owner's insurance, but you can shop around for a competitive price so long as it meets the requirements of the mortgage holder.
Can outside lighting lower my home owner insurance rates, and if so, how much would I need?
I'm trying to get my home owners insurance lowered. How much outside lighting will I have to get to have my rates lowered?
Can you transfer homeowner insurance policy to new owner?
No. You will have to cancel you policy and the new owner will have to apply for a new policy. The homeowner's policy is partly based on the home and partly on the person so the new owner will be underwritten as well as the property.
Does an incodent have to occur at the home in order to be covered on home owner's insurance?
yes. its HOME owners insurance so what happens must be at your HOME. im pretty sure of that, but not completely ---- Not necessarily. Read your policy. I was amazed when I read mine. It covers reimbursement for counterfeit money. Go figure!
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.
Does your home insurance cover the deductible for the condo insurance?
Your question will be best answered by the insurance agent or broker who sold you the policy.Almost nothing in an insurance policy that covers a home is automatically covered if it is not located in the home. And some items in the home may not be covered either, without a special rider. This is especially true of expensive items, such as jewels, furs and so forth.
How can you get home insurance for a house that you are renting out in NC with no mortgage note?
Insurance companies offer renter's insurance which covers the person's personal property, such as furniture, clothing, appliances, jewelry, and so forth. The coverage for the house itself is the responsibility of the owner.
Why does anyone need home insurance?
Home insurance protects the owner from catastrophic event. Flood, fire, hail or major storm can cause extreme damage if not totally decimate a home. The costs to repair or rebuild would be so astronomic that most homeowners are simply not in a position to afford.
How do you get liblity insurance on a borrowed car that no insurance?
You have to own a vehicle to insure it then you have to register it as the registered owner. So if you are borrowing a vehicle either the owner has to insure it or you have to buy it from them
If the owner has no insurance can someone else drive the vehicle?
In the UK, yes. So long as the driver has insurance.
