Get very good insurance from a reputable company !
An insurance company considers the cost of repairs compared to the value of the mobile home when determining whether to total it. If the cost of repairs exceeds a certain percentage of the home's value, typically around 70-80, the insurance company may decide to declare it a total loss.
My guess is : you have to pay for payments owed up until you vacated. Then if it is sold at a loss, you are responsible for the amount of the loss.
Your manufactured home is your greatest asset and must be protected against loss. If you choose the least expensive policy, you may not have adequate coverage to rebuild after a catastrophic loss. In general, you can expect to pay on between $250 and$1,300 per year for manufactured home insurance.
The lowest amount of individual property insurance that you can have on your home is the amount outstanding on your mortgage. Your mortgage lender will require that insurance be in force for the amount you owe them or more. That way in case of a total loss, the lender recoups its losses.
The duration of Total Loss is 1.58 hours.
Yes you need to include your 2nd mortgage. The reason is because they have an interest in your property. They must protect themselves, in case their is a total loss or significant loss.
Case Law Hanna vs. Lott states that when the car is totally destroyed, the measure of damage is the difference in the market value immediately before and immediately after the loss, and no additional recovery can be had for the loss of use of the chattel while it is being replaced. No loss of use is owed on a total loss vehicle.
Total Loss was created on 2000-02-10.
No. If the car is written off then the best you can hope for is the scrap value.
>80% The total loss of a species is called extinction.
If you own the home, with no mortgage on it, no, you do not have to have insurance. That said, it is very ill advised to not have insurance. When buying a home, insurance is generally required so that in case of any loss, the financial institution that holds the mortgage note is protected from loss should the house be damaged or destroyed.
I already tried but in the Help Center it said that you can't; only on your computer or on a mobile phone. You can still edit your name and password so it's not a total loss.