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Yes one should always a home insurance policy. They protect one in case of burglary, accidental damage or natural disasters such as floods and hurricane damage. Without insurance one could have to pay thousands of dollars for potential repairs.

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12y ago

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What is the difference between home insurance and mortgage insurance?

Home insurance is a policy that protects your home and belongings from damage or theft, while mortgage insurance is a policy that protects the lender in case you default on your mortgage payments.


Does homeowners insurance cover a home business?

Homeowners insurance typically does not cover a home business. Additional insurance, such as a business owner's policy or a commercial insurance policy, may be needed to protect a home-based business.


How much is life insurance bought in 1995 worth today?

Usually - as much as it was agreed upon at the time when the insurance was bought. When we buy an insurance policy, a maturity value is usually mentioned in the policy document. So, in all probabilities your insurance policy is worth as much as mentioned in the document. Also, since it has been 17 years since the policy was taken, it is possible that the policy has expired or lapsed. In that case, the policy is worthless today.


What is the cash value in an insurance policy mean?

The cash value is the amount of money your insurance policy is worth to the owner of the policy if the insurance is cancelled and the policy terminated. The insurance company will mail a check to the to the policy owner upon policy termination or cancellation by request of the owner. I would strongly encourage you to consult a professional in your area before cancelling an existing policy. There may be other options and alternatives to access the value of the policy without cancelling the insurance policy.


What does hazard insurance mean in a mortgage?

It's referencing your House insurance. Homeowners insurance is also known as a Home Hazard Insurance Policy.

Related Questions

Average cost of home insurance in Fort Worth Texas?

There is no such thing as an average cost of a Homeowners Insurance policy. Every Risk is different.


How much money was George's life insurance policy worth in It's a Wonderful Life?

George Bailey has a life insurance policy worth $5,000.


What is needed to add home insurance to replace a forced insurance policy?

Cancel the forced insurance policy and add terms and conditions to your homeowner policy.


What is the difference between home insurance and mortgage insurance?

Home insurance is a policy that protects your home and belongings from damage or theft, while mortgage insurance is a policy that protects the lender in case you default on your mortgage payments.


Does your home insurance cover damage to your car from falling tiles during a storm?

No, Homeowners insurance does not cover damages to your automobile. Your home insurance policy is property insurance for the specified structures and real property listed on the policy. Cars are not listed as covered property on your home insurance policy, that's what auto insurance is for.


Can you insure a Baldwin organ on your home insurance policy?

You can insure a Baldwin Organ if it holds value to your home in your home insurance policy. You have to make sure that the policy covers not only that, but other valuables within your home.


Does homeowners insurance cover a home business?

Homeowners insurance typically does not cover a home business. Additional insurance, such as a business owner's policy or a commercial insurance policy, may be needed to protect a home-based business.


Can I transfer my Corpus Christi home insurance policy to my new house in Detroit, Michigan?

Yes is my answer, because home insurance policy can be shifted


If the computer is accidentally dropped and ruined is it covered on home owners insurance?

depends on the policy. however your deductible will probably be $1000 so it is probably not worth it to replace it with insurance money.


How do you find out who your home owners insurance is with?

If it is your home, just look at your insurance policy. It will always tell you the name of your insurance company.


Does homeowners insurance cover storage for a corvette stored in garage?

No. Vehicles are covered under an Auto Insurance Policy, Not a Home Insurance Policy.


Does mobile home insurance cover flooding?

Usually flood insurance is a separate policy, for mobile homes or any other kind of home. Check the details of your policy, but normally flood insurance requires a separate policy or rider.