The owner will usually have a policy but if you are a renter, you should have a renters insurance policy to cover your personal belongings.
Household content insurance is insurance that pays for damages to items that are located in the home. For example, a television that get broken in the home may get covered by household content insurance and the owner will get reimbursed.
Only if they had mortgage insurance.
There are two general types of policies, or combinations: lender's insurance (which pays the lender to cover its loss in security interest) and owner's insurance (which pays the owner in case of defective title).
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.
Pays for what? Does the home owner suffer injury as a result of falling of the steps? Clarify the question please. http://activeinsurancecompany.co.uk/
The rule of thumb is that the owner's insurance pays first and, if that coverage is inadequate, the driver's car pays.
Usually the insurance policy of the owner of the car is primary and then if the driver of the car has a policy of their own then it is secondary.
It would be possible to write an insurance policy that way if you wanted to, however, normally a life insurance policy pays a fixed amount of money (known as the death benefit) to a chosen beneficiary. If the beneficiary then wished to use that money to pay for a home, that could be done.
In a condominium usually the board pays for property insurance on all common areas. An individual owner pays for 4 walls, the ceiling, the floor, the inside of the door, and everything in between.
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