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Insurance companies are in the business in accepting your risk in exchange for an insurance premium. You have the risk of loss in loosing your home to fire, theft, windstorm, flood, lightning, etc and by purchasing a policy you are transferring this risk of loss to the insurance company who agrees to rebuild your home or give you the funds to do so. The liability coverage also transfers the risk of liability loss from yourself to the insurance company. If someone came to your home and was injured on your steps by falling and you were negligent by not securing the steps properly and putting sturdy handrails on the steps. The insurance company protects you by providing your defense costs plus it pays any damages to the claimant if you are found negligent and required to pay a judgement by the courts.
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Why should someone get more than just house insurance when owning a home with property?
House insurance covers only damage to the actual house and contents. Additional insurance may be needed for outbuildings and other structures, such as fences. Liability insurance may also be needed in case somebody gets hurt on the property.
How is the term captive rate used?
The term captive rate is used in insurance payment quotes. It means the rate a person will need to pay to cover things that are not part of the insured's regular policy. For example, a person getting insurance for a home will need flood insurance to be added in some cases. The captive rate will be the additional fee paid for this type of insurance.
What is the need of insurance in simple words?
if something bad happens to you, you get money back.
How do insurance companies determine if business are underinsured?
Under insurance is the situation where your insurance coverage is less than what is required to cover any loss you would incur. Insurance companies do random checks and base any quotes on the market averages to try to avoid the occurrence of under insurance.
What would a 5000 insurance policy be worth if bought in 1950 what would the value be now?
You need to call the Insurance Company or look in the statement of values page.
Do you need house insurance if you own a dog?
You will need a Pet Insurance if you own a dog. You don't need a house insurance while owning a dog.
Why should you have insurance if it paid for house?
if you paid cash for the house do you need homeowners insurance
What type of insurance do you need to own a cleaning service in North Carolina?
house insurance
Which kind of renters insurance are recommended for older people with a house?
If your parents bought their house they do not need renters insurance but they do need house insurance. They should insure the house for two things, one for the contents and any damage to the home, and two if there is a mortgage they should have insurance to cover that in the event that anything should happen to either of them.
Do you need insurance if your house is paid for?
Yes. What if something happens to it?
Do you had to have a title to be able to by title insurance?
No, you need to own a house.
What are rates on house rental insurance?
I need to know how much it cost for house insurance
Describe the damages that content house insurance does and does not pay?
Content house insurance covers the items, or content, of the home itself. It does not cover the home as a structure and you will need separate insurance for that.
Can a house owner get insurance on a house that is rented?
Yes, Just call your insurance agent. Your agent can recommend the right policy or coverage endorsement you need for a rental property.
What does liability insurance for a coffee house cost?
You will need to contact some agents for quotes.
House insurance in Florida?
Yes, They have house insurance in Florida.
What if neighbor's house catch on fire then yours but your neighbor has no insurance?
If you have fire insurance on your own home you will be covered under your own policy. You don't need to worry about whether the neighbors house has insurance or not. It does not affect the coverage you have under your own policy.
