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What type of insurance should an owner carry on a financed mobile home that is being leased to buy from them?
You would carry insurance on the structure (ie: fire, lightning, wind and hail) as well as liability coverage for anyone hurt on the property. The contents of the buyer who occupies the home would be covered under their own policy. You want to be sure that you will be able to meet your financial obligations to the finance company in the event the home is destroyed and the buyers are no longer making that payment for you. In the greater state of Illinois, we have something here called Mobile Home Insurance, which is specifically designed for mobile homes and pretty much know the ins and outs of them, Currently I pay just under 400 a yr for mobile home insurance which covers 20,000 property(structure) and another 20,000 for personal property, such as clothes, computers and whatever else may be lost in a fire/tornado etc.
What else can I help you with?
How is mortgage insurance coverage determined for financed mortgage insurance?
If you mean mortgage protection it is usually the amount you require per month eg £100 of insurance cover per month might be £6 per £100 for example If you are talking about bldgs insurance then the lender should tell you in their estimation of how much the property would costs to rebuild and you should insure this for a minimum of that amount.
Difference between permanent current assets and temporary current assets?
permanent asset should be financed with permanent and spontaneous sources of financing,while temporary assets should be financed with temporary sources of financing.
Normally permanent current assets should be financed by?
long term funds
Can your homeowner's insurance premium be included in closing costs?
Your homeowners insurance premium SHOULD be included in your closing costs. Now as far as asking the sellers to pay for it--you can ask them to pay for anything--it's up to them whether or not to.
If I have 75 percent for a downpayment on a car will my credit score affect the remaining amount to be financed?
no you should be fine with the 75%
Can I carry the insurance on a car that is financed in my spouses name if he is no longer able to drive?
You should check with your insurance agent how you should carry the insurance on a car not financed in your name. Each of the 50 states in the United States has its own insurance regulations. Each state requires its agents to know the insurance regulations.
What should an Insurance estimate be on a 42000 dollar mobile home?
What should an Insurance estimate be on a 42000 dollar mobile home?
I had to raise premium for my leased vehicle insurance says this will raise it for both this and my finance car in New Jersey Is this true or should i be able to increase just leased car?
they raise there young
What kind of insurance is available for a mobile home?
alot of insurance companies offer insurance for moble homes such as geico you should look at their website and see if geico matches your needs for mobile home insurance
When should you get home insurance?
Whenever you own a home. * Homeowner's insurance is mandatory while the property is being financed, and always the best option when property is owned outright.
Should I purchase mobile home insurance?
Yes, you should definitely purchase mobile home insurance. Manufactured housing is particularly susceptible to damage in fires, storms, and other acts of nature.
What are your options on a totaled 2005 financed car that had no insurance coverage?
You have no options! Should have got insurance There are none. You have the joy of paying off a car you no longer have. Best thing to do is try and sell it for parts.
Can you register a financed car?
You can, should, and are legally required to register a financed car.
Where should I get homeowner insurance?
The best financial plan for homeowners insurance is to have this financed into the terms of the initial loan. This makes the payments easy to keep track of because you can stop worrying about a large payment being due at the wrong time of the year.
How is mortgage insurance coverage determined for financed mortgage insurance?
If you mean mortgage protection it is usually the amount you require per month eg £100 of insurance cover per month might be £6 per £100 for example If you are talking about bldgs insurance then the lender should tell you in their estimation of how much the property would costs to rebuild and you should insure this for a minimum of that amount.
You had a fatal loss accident and your insurance estimate came out to be significant less than the residue value for your leased vehicle What is your recourse How do you negotiate with my insurance co?
You might well be on the hook for the balance. When you leased your vehicle you should have taken out "gap" insurance which would have covered this "gap" in coverage you have just described. Many times whoever leases (or sells) the vehicle will offer this coverage during the sales closing process. Double check your lease documents to determine if you're covered or not.
What to do if mobile is stolen?
If a person's mobile is stolen, you need to get a new one. If you have insurance, it will not cost very much. You should immediately contact the mobile company, to be sure that the stolen phone does not run up any charges.
