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Will homeowners insurance cover the loss of personal property if you're behind on your mortgage and you have a compound loan?
Wiki User
∙ 15y ago
Most likely it will depending on what the mortgage company's policy is. The insurance policy is purchased at one time during the year, therefore it will be in place even though you are behind in mortgage payments. If your mortgage payment includes a prorated portion of the annual insurance policy and you are behind in payments at the time rewal of the policy comes up, the mortgage company will likely pay for the policy using the accumulated reserves from the past months and paying the remaining amount for you. The bank will simply charge you later when you catch up on payments or add it to the amount due in a foreclosure action. The bank protects its own interests this way too. But you should see if your mortgage bank has a policy of paying only that portion of the premium that protects the house and land and not the contents. Also check with the homeowners' insurance company and read your policy.
Wiki User
∙ 15y ago
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Is private mortgage insurance the same as homeowners insurance?
They are not the same. Homeowner's insurance insures the property: dwelling, personal property, other structures on the property, etc. Private mortgage insurance pays the mortgage in case of the death or disability of the mortgagor.
Does homeowners' liability insurance cover personal injury on another property?
No, your Homeowners Insurance will not. Your Medical Insurance Will.
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.
Personal liability limit on homeowners insurance?
Is this seems like an incomplete question. Homeowners policies typically have personal liability on them.
Will homeowners insurance cover damage to personal vehicles at the home caused by someone else?
Homeowners insurance covers what is inside the home. Check your auto insurance for auto damages.
Is life insurance personal lines insurance?
No personal lines refers to personal property and casualty coverage like homeowners, renters, auto and personal umbrella coverage.
Do you need insurance for hauling personal items for people?
You need insurance to protect yourself from a lawsuit by private people. Since you are not dealing with vendors they nobody will probably ask you to see a copy of your policy but without insurance you are not covered. The answer would basically be the same to "do I need Homeowners insurance if i don't have a mortgage".
Does homeowners' insurance cover a personal injury claim from another property owned?
No. Your homeowners will only cover personal injury if it occurs on the property listed on the policy.
Does homeowners insurance cover lawnmower accidents?
No, Personal injury would be covered under your Medical Insurance.
What is home insurance?
Home Insurance is Insurance coverage for your house, condo or apartment for your personal property and liability coverage for you. The insurance coverage for your house is also called homeowners insurance. The Homeowners isurance is an insurance package that has coverage for the dwelling, the others structures on your property, Loss of Use, Medical Payments and Personal Liability.
Can you get third party insurance to cover your ipod?
Personal possessions are usually covered on your homeowners or renters insurance policies.
Does a homeowners associations general liability cover homeowners driving their vehicle for a homeowners outing?
Your master policy broker or your personal insurance carrier can answer your question specifically. There is no standard.
