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Why am I being held responsible for damage to someone elses property if it is being covered by their homeowners insurance?
Wiki User
∙ 14y ago
When you damage someones property you are liable for the costs of that damage.
If you fail to pay for the damage you caused and the homeowners insurance company pays the bill, Then you now owe the Insurance company what you failed to pay to the homeowner.
Its no different from an Auto Insurance accident. If you were at fault or rather "Liable" for the accident and you fail to pay the bill. The other vehicles Insurance may fix their insureds car and send you the bill.
Just because someone else has to pay for the damages you caused does not mean you don't still owe the money. They only paid because you failed to pay timely.
Think about this for a minute What if you Robbed a Bank. Naturally the Bank is insured so they will get their money back right away. Does that mean the bank robber gets to keep the money he stole? Of course not. If and When the Bank robber is finally caught he will still owe back the money he stole. But since the bank has already been reimbursed by its Insurer you now owe that money to the Insurance company who covered the theft.
Wiki User
∙ 14y ago
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Would likely be covered under homeowners insurance but not by renters insurance?
Damage to anything covered by the landlord's insurance, because the landlord owns the property not the renter. Such damage would be covered under homeowner's insurance, because the homeowner owns the property.
What would likely be covered under homeowner's insurance but NOT by renter's insurance?
Damage to anything covered by the landlord's insurance, because the landlord owns the property not the renter. Such damage would be covered under homeowner's insurance, because the homeowner owns the property.
What does home owner insurance not cover?
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.
Can a commercial business insurance policy protect you if your personal pet bites someone?
No pet bites would be covered under your homeowners or renters insurance policy.
What companies will underwrite homeowners insurance while under bankruptcy?
What company will insure you when in chapter 13 if you home is not covered in the bankruptcy. If you have current insurance and the company is going out of business.
Is your car covered by homeowners insurance on their property?
No. Your Car is covered by your Auto Insurance Policy. It is never covered by a homeowners policy no matter whose property it is on.
Does homeowners insurance cover loss of personal property?
If you scheduled your personal property on your Homeowners Insurance Policy then it will cover. If you failed to schedule your personal property then it will not be covered.
What is covered by homeowners insurance?
The BuildingOut buildingsLiabilityPersonal Property and more
Can you carry homeowners insurance on company property?
Commercial property cannot be covered by homeowner's insurance. Commercial property insurance must be purchased for that category of property.
Does homeowners insurance cover a vehicle if it got hailed on while on the property?
No. Homeowners Insurance does not cover Hail damage to an Automobile.Hail damage to an automobile is covered by the vehicles Auto insurance policy. Vehicles are not scheduled property on a homeowners policy.
Does homeowners insurance cover car fires when its on your property?
No, vehicles are only covered under auto insurance policies. Homeowners insurance policies provide no coverage for automobiles.
What is the purpose of home insurance?
Homeowners Property Insurance is "Hazard Insurance" that protects the property owner from loss or damage due to the stated covered hazardous perils.
Would likely be covered under homeowners insurance but not by renters insurance?
Damage to anything covered by the landlord's insurance, because the landlord owns the property not the renter. Such damage would be covered under homeowner's insurance, because the homeowner owns the property.
What are the legal requirements for insurance for rented property?
There are no mandatory legal requirements for insurance for rented property. However it is advisable to review your homeowners insurance if renting out the property or part of it is covered. If it isn't covered you should get a landlord insurance policy in order to be safe.
Is the furnace covered by homeowners insurance?
Yes a furnace is covered property under a homeowners insurance policy. However, the key to whether the policy will pay for damage is the cause of the damage. This is always the key to coverage.
Are snowmobiles covered on your Homeowners insurance policy?
depending on you insurance company... I know my snowmobiles are covered on my homeowners
Who is responsiable when a tree falls on neighbors car?
Mother Nature would be the "responsible" party. The homeowner is not "liable" for acts of nature. Your homeowners insurance is not responsible for a natural act that causes damage to property of another. Your neighbors car is not listed as covered property on your Homeowners policy. Your homeowners insurance would also not pay if the tree fell on your own automobile. If a tree falls on someones car they should file a loss claim with their Auto Insurance Company. If they have comprehensive coverage then it will take care of their loss.
