If the homeowner was negligent in any way...simply falling does not make the homeowner negligent. If the steps were in poor repair, perhaps. BTW, anyone can sue anyone for anything. That does not mean you will prevail.
No, Not to the homeowner, because the bank or morgtage company actually owns the house even if it was not in forclosure. Read your morgtage and insurance paperwork, you do not own it at all until it is paid in full.
The things that are covered by Commonwealth insurance are things such as getting into a car accident, house burning down, and hospital stays when a person is sick.
Homeowners insurance covers the house itself should it be damaged. Many of the policies include liability insurance so that if anyone is injured there you have protection. There are some types of mortgage insurance that cover the remaining mortgage should the owner die. But, if the lender does not require it due to a low down payment, one would have to specifically buy that.
Actually, the home owner pays the home owner's insurance. The lender has an escrow account. This is in additional to the payment of interest and repayment of principal. The escrow account pays the taxes and insurance. The escrow account pays the taxes so the government does not seize the property. The homeowners insurance pays in case the house burns down. So, you pay into the escrow account, and if your house burns down, the lender gets the insurance money. You would not pay a mortgage on a burned down house and the bank knows that, so they have you pay into the escrow account and they pay for the insurance.
The purpose of insurance is to pay you when you lose something, to help you recover from that loss. For example, if your house burns down, fire insurance can pay for a new house. Or car insurance will pay for a new car if you get into an accident. The term "insurable interest" refers to the thing you are worried about losing, the car or the house. You can't get insurance in cases where you have no insurable interest. For example, I can't get car insurance on my neighbor's car. If they have an accident, I didn't lose anything, so why should I get an insurance payout? Letting people have insurance when they have no insurable interest causes problems, for example intentionally damaging their neighbor's car.
Cigarette burn your house down
The term "accident insurance" applies to life and health insurance policy's that will only pay claims that result from an accident. Example: A person who owns an accident-only disability policy falls ill from cancer. The policy will not pay any claims as a result of the cancer. If the same person fell down a flight of stairs, the policy would pay.
If your a homeowner you should try to know how the amortization of your home mortgages work. Amortization affects how quickly a mortgage value is paid down also how fast you can build equity into the house. This allows a homeowner to understand how each monthly mortgage payment can effect the homeowner.
In the United States, insurance comes under the laws of a particular state. It is hard to say what will happen in a particular situation. In the case where you mention that a property line comes through a particular house, the insurance policy would probably be valid. However, an insurance policy frequently contains a legal description of the property that is insured. If the house burned down, it might only pay for the value of that part of the house which was on the piece of property described on the insurance policy. Say you owned two lots and you built a 5 bedroom house on one lot and insured it. They you added 5 more bedrooms on the second lot. You increased your insurance but did not change the policy to describe the fact that the other 5 bedrooms were on the second lot. Then when your house burned down, you may only get paid for the first 5 room house.
Yes. If you pay cash for your house then you do not have to buy insurance. The only time you have to buy insurance on a house is if you take out a mortgage, the lender will probably require you to have insurance. That is in case the place burns down, it protects the banks collateral.
It depends what the insurance was taken out for. Accident insurance would not cover this, but extended warranty or breakdown cover would.
Generally: First, failure to carry homeowner's insurance is likely a breach of the mortgage. If the lender discovers your property is uninsured it can call in the full amount of the loan immediately. If you can't pay it, the lender may be able to take possession of the property by foreclosure. Second, if your house burns down you will not have coverage for the damage and will still owe the full amount of the mortgage. The lender may also sue for breach of contract and place you deeper in debt.