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Why would my tenants wants to be on my home owner's insurance policy?
Wiki User
∙ 15y ago
Not sure. But if they have no legal interest in your home then they cannot be listed on the policy. The tenants can obtain renters insurance which will cover their personal property.
Wiki User
∙ 15y ago
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If a rental home insurance provider wants to settle a third party injury claim can you insist they instead defend the case if there is no fault in industry code to the property where the injury happen?
No, Your Insurance contract gives the Insurance company the right to settle or defend whichever is cheaper. If the insured property owner interferes with the companies decisions you could forfeit all coverage under your policy for that claim and even get your policy cancelled.
Can you have multiple life insurance policies with multiple insurance companies?
Yes, you can own multiple life insurance policies with multiple insurance companies. The application for coverage usually asks if you own other life insurance policies and how much coverage you own. The insurance company wants to make sure you aren't over-insured for any reason. But, if they say it's ok, you can buy life insurance with several insurance companies. Just make sure to answer the questions on the application truthfully. I hope that helps. Best of luck to you.
How does title insurance affect the seller who had no title insurance?
A seller with no title insurance:If a person has offered their property for sale and accepted an offer to purchase generally the intelligent buyer's attorney will have the title to the property examined by a professional title examiner. If the title exam reveals a defect in the title and the seller was not covered by a title insurance policy then the seller must pay to have the defect resolved. Title defects can be very costly to resolve.Generally, if the seller chooses not to have the defect resolved the buyer can back out of the sale and get their deposit back. However, the seller has been put on notice regarding the defect.The new owner's title insurance:The new title insurance does NOT affect the seller in any way. Coverage is given only to the new owner under the Owner's Policy. If the seller cannot clear the defects and the buyer still wants to purchase the property, the issuing Title Agency has the option of insuring the title, but excepting the defects from coverage to the new owner. Thereby, the risk is assumed by the buyer, not by the Title Agency.
Can a person hold life insurances policies with different companies?
Keep in mind that you may wish to keep the eggs in one basket as it WILL save you money. There is something called "Banding" which basically means that the more death benefit you have in one policy the lower the cost per thousand. In addition, each policy has an annual policy fee of $50 or so. So in the following example you would lose out big time in the cost/$1000 but would also pay in excess of $500 annually in policy fees spread over the 10 policies. Your best bet when working with any insurance program, find and work with a reputable broker! ___________________________________________________________________ Yes, you can hold as many life insurance policies you want, and spread your eggs in many baskets. There is a concern that your applications could be rejected if you risk being "overinsured". That means the Underwriter reviewing your application will look at your net worth and other info, and determine a maxiumum dollar amount that they will offer. It has to make sense because nobody wants somebody worth more dead than alive. A company called the MIB is a clearinghouse that allows all insurance companies to see any previous activity, sort of like a credit report on your insurance applications. Say you qualify for $1,000,000 of insurance, you could get $100,000 at ten different companies (or however you want to split it up). Each company can determine the maximum they think you should have, it's not a perfect science. It can also raise red flags to insurance companies if they see you are applying all over the place. Be ready to explain why. They might worry that you either have an unscrupulous agent churning or twisting your policies, or that you have a terminal health problem. If you are wary of a company you might have insurance with already, you can take your business to another company. (Let the new agent help you with the transfer paperwork...don't go cashing in your policy on your own, if you plan to take another policy out somewhere else! There's something called a 1035 exchange that keeps you from experiencing a tax consequence, like you would if you removed the money from your retirement plan early.)
Buy-Sell Agreement?
Get StartedThe Buy-Sell Agreement is an agreement among business owners. It has several primary purposes. First, owners of a small business often wish to limit who can become a new co-owner. For example, they may not want spouses or children of their fellow co-owners to become owners. Without a buy-sell agreement, this type of transfer could occur if a co-owner dies or gets divorced. Thus, the Buy-Sell Agreement includes a general prohibition on the sale or transfer of ownership interests, except under the specific circumstances specified in the agreement.Second, owners of a small business may wish to "create a market" for the sale or transfer of their ownership interests. In the absence of a buy-sell agreement, owners may find that they have very few opportunities to sell out if there are important reasons why they might wish to sell, such as death or retirement. Therefore, the Buy-Sell Agreement provides a mechanism for the purchase of the interest of an owner who retires, dies, becomes disabled, or simply wishes to sell to someone else. If the sale or transfer results from retirement or death, the other owners (or the company) are obligated to purchase the ownership interest. In contrast, if an owner simply wants to withdraw, the other owners may exercise an option to purchase the withdrawing owner's shares to prevent them from being sold to an outsider, but it is up to the withdrawing owner to find an outside buyer.Third, the Buy-Sell Agreement specifies the mechanism for determining the purchase price. It also sets forth terms for how the purchase price will be paid. Owners often believe that they can resolve these issues as the circumstances arise. However, they may discover to their dismay at a later point, that "selling" owners do not have the same perspective on fair price as owners who wish to remain.Funding of the payment of the purchase price of a withdrawing Owner is handled by requiring the Owners to purchase life insurance on each other. This works well if the withdrawal occurs because of death. For other situations, the Buy-Sell Agreement allows the remaining Owners to pay over a period of time on an installment basis.Ideally, the Buy-Sell Agreement should be made and signed when the Company is formed (if the business will have more than one owner) or when it will first have more than one owner (if the business begins as a one-owner business). Generally, any disputes under the Buy-Sell Agreement should be handled under the laws of the state where the Company is located.
Your daughter has insurance where she works but wants to use your insurance as her primary Can she do this?
If your daughter is listed on your insurance policy and a premium is being collected for her, then she can use your insurance. If not, she will need to use her insurance policy at work.
How can one get premise comprehensive general liability insurance so one can get a satellite dish installed in your apartment. management wants tenants to get that insurance?
Renters insurance is inexpensive and offered by most insurance companies. This policy would cover your personal property in your apt, including the sat dish, in case it was stolen, damaged by storm or fire, etc.
If a friend wants to use your car is it possible for him to buy his own insurance to drive your car?
Yes it is very possible for your friend to get insurance to drive your car. There are 2 ways, the first is called a non-owners policy which will only provide liability coverage, and no property damage to your vehicle. The second is to get a policy on your vehicle which is now available in most states, without having insurable interest. The non owners policy is the least expensive.
Where can one purchase a travel insurance policy?
There are many sources for anyone who wants to purchase a travel insurance policy but the best place to start would be by contacting the insurance company an individual already has a policy with and to ask for a recommendation from them.
Why might a medical assistant purchase a professional liability insurance policy separate from the employer's policy?
In order to provide themselves with additional (supplemental) coverage in case the employers insurance policy is insufficient. When the assistant wants an additional layer of coverage beyond the limits provided by the employers policy.
Can you get a treatment from your family for car injury and will insurance will pay for it my mom is an acupuncturist and she wants treat me but will insurance cover the cost?
It depends who is at fault and what type of coverage is on the policy.
Can your married boyfriend put your name on his life insurance policy?
yes if he wants u to and he would have to tell the insurance company that he doesn't want anything to go to his wife but to u
Why would a insurance co ask if you've been bankrupt when making a claim for pet insurance?
The insurance company wants to find any possible risk factors that might lead a person to kill there pet to collect on the insurance policy.
What are the responsibilities of a new mortgage owner to existing tenants what if new owner wants to tear down and rebuild?
Usually the new owner can do what they wish with the property, but must give some consideration to the previous owners contract with any tenants. You should give such tenants reasonable time before they must vacate. Let them know your intentions and discuss what amount of time would be acceptable for all parties.
Can the owner of the policy get the cash value for a paid up life insurance for graduate studies?
The owner can do anything he wants. Careful though, taking a loan or withdrawal from a cash value policy my jeopordize the well being of the policy.
Do you have to put the auto insurance in your name if the co-buyer wants to insure it by herself?
You both have to be named on the insurance policy because you still can be jointly sued as being co-owner of veh.
What is the ticker symbol for prudential life Insurance?
I need to know what the ticker symbol for Prudential Life Insurance is to look at my policy on-line. I have my account and social, but the site wants the ticker symbol
