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Is insurance an operating expense or general expense?
it depends on the type of insurance.. workers compensation insurance, health, dental, or vision are all payroll expense.. building insurance is an operating expense.. Payment of insurance premium should always be treated as general expense,to be shown in the debit side of the Profit & Loss A/c of a Company,whether it is payroll expense for its employees. While preparing individual Balance Sheet, payment of insurance premium where life, medical,home owner or else, should be shown as payment/expenditure and to claim benefits under Income Tax Act.
What are the differences between home insurance and private mortgage insurance (PMI) and how do they impact homeowners financially?
Home insurance protects a homeowner's property and belongings from damage or theft, while private mortgage insurance (PMI) protects the lender if the homeowner defaults on their mortgage. Home insurance is typically paid by the homeowner and can vary based on coverage and location, while PMI is usually required if the homeowner puts less than 20 down on their home and is an additional cost on top of the mortgage. Home insurance is a necessary expense to protect the homeowner's investment, while PMI is an added cost that does not benefit the homeowner directly but allows them to secure a mortgage with a lower down payment.
What are 3 ways that can lower a homeowner insurance rate?
There are a number of ways that one can lower a homeowner insurance rate. Three ways this can be done are by increasing the deductible, combining the insurance with auto insurance or increasing one's home security.
On Amica's website, where is the home insurance quotes?
The Amica website does have home insurance quotes. Under the "products" tab you should find four options: auto insurance, home insurance, life insurance and coverage by state. The second option, home insurance, is what you are looking for. Choose "home insurance" and on the left toolbar it should say "get a quote" and then select your state and insurance type.
What does an FHA borrower's housing expense include?
You mortgage princple and interest, property taxes (city and stae if applicable), fha mortgage insurance, home owners insurance and any fees due for a community (home owners asociations).
Does State Farm offer second home insurance?
State Farm does offer second home insurance. If you or a loved one has two homes they both will in fact be covered no problem. It does cost extra however.
Can an outdoor home security camera really lower your home insurance rates?
Surveillance cameras have many functions, the most common of which is to watch your home and business, keeping you safe. These cameras also may help lower insurance costs and prevent fraudulent acts.
Is it cheaper to have your home insurance with the same company as your car insurance?
Yes, at least with State Farm it is. If you have home insurance and car insurance you get the multi line discount. Its not much, but every bits helps. Also it is easier to get a lower price if the already have your business.
What is manufactured home insurance for?
Manufactured home insurance is specifically for modular homes, or "homes on wheels". Insurance companies needed a special policy for these type of dwellings due to their lower quality workmanship and susceptibility to fire and storms.
Where can one find information about Holiday Home Insurance?
A person can find more information about holiday home insurance, or second home insurance, from several different places. Some of these places include Compare The Market and Quote Line Direct.
Can homeowners insurance cover transite duct abandonment?
No. This is a maintenance expense and insurance is not designed to cover this type of expenses. Homeowners insurance offers more coverages for the money than any other insurance policy but it is not made to cover maintenance or normal wear and tear on the home.
Is second home insurance good?
"Although you may find insurance on a second home to be costly, it is necessary for several reasons. One of those reasons is you are usually away from a second home and therefore may be unaware of what is going on there or what is happening while you are away. Also you have worked hard to purchase and own a second home so therefore, you will want to treat it as well as your first home, and make sure that it is also properly insured."
