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you can be self insured but legally it will most likely cost you more than buying a policy.
it is not "legal" or illegal to choose a risk management strategy. Likely if you have a mortgage, you will be required to insure the dwelling. If you cannot afford the premium, the mortgage company will at its own cost purchase a policy for you. They will be the beneficiary or "insured" on the policy however.
If you own the home outright, you are free to do as you wish. You will see this put into practice for homes along the coast where insurance is very expensive and the homeowners take their chances.............
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∙ 12y ago
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Can you insure yourself on your dads car but he is not insured?
Yes you can.
How long do you have to insure a vehicle if you bought it?
Find out yourself!
Can you insure cash you keep in your home?
no
Can one person own the home and another purchase the homeowner's insurance?
If you mean can you pay for the other persons ( the owners ) insurance policy yes. If you mean can you insure it for yourself no.
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.
Can you insure yourself against injury?
Yes, you can buy disability/dismemberment insurance.
What was the role of the federal administration?
To insure home loans
Can you insure an unoccupied home?
Many people live in two homes throughout the year, such as those who have a summer home, for example. There are a wide variety of insurance companies that will insure the second home, even when it is unoccupied.
What was the role of the federal housing administration?
To insure home loans
Can you insure a home that you don't own?
If you rent it you can get renters INS
Was the role of the federal housing administration?
To insure home loans
Who insures car titled in some elses name?
You must have a financial (insurable) interest in a car in order to insure it. It works the same way with home insurance. You must own the home in order to insure it. Thus, whoever owns the car and has the title is the only person who can insure it.
