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If two people are listed as the homeowners do both of them have to apply for homeowner insurance?
Wiki User
∙ 12y ago
Yes, anyone with an interest in the property should be on the homeowner's insurance to protect their "share" of the property. If there are multiple owners, they can all share one policy, but it needs to name all of them, otherwise, when someone makes a claim, the insurance company may refuse to pay for damage to something in the home that belongs to the uninsured owner.
Wiki User
∙ 12y ago
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Does homeowner insurance cover other people cars that get vandalized in your driveway?
NO, Homeowners Insurance covers Homes. Auto Insurance covers cars. Home insurance polices do not provide coverage for personal auto regardless of who owns them or where they are parked.
Homeowner's Insurance Takes the Worry out of Homeownership?
After purchasing a house, the homeowners will also need to purchase a homeowner's insurance policy. The purpose of the homeowner's policy is to repair the damages that occur when there is a flood, for example. The house may also be completely destroyed if there is a fire. A good homeowner's policy will pay to rebuild the house in case of these circumstances. Homeowner's policies typically cover damage that occurs due to fire, lightning, hail and wind. Flooding is commonly not covered under the standard homeowner's insurance policies. Earthquakes also may be the type of peril that isn't covered under these policies. If homeowners live in an area where these disasters are likely to occur, they may purchase extra coverage that specifically names these perils as covered under their policies. Homeowners have a choice as to how they would like to be paid after their homes have been destroyed by one the perils listed above. They may receive the amount of money that the house was worth at the time it was destroyed. What will make the policy more costly would be the other option; homeowners can choose to receive the full amount it would require to rebuild the house completely as it was before it was destroyed by fire. This may be the more advantageous option for homeowners. When a house is completely destroyed by a disaster such as a fire, everything within it will also need to be replaced. Furniture, clothes and personal items will be unsalvageable. The homeowner's insurance policy will pay to repair or rebuild the house as well as replace everything that was in the house. The other part of a homeowner's insurance policy is liability coverage. Liability coverage is needed in the event that an accident occurs on the property. For example, guests to the home could experience an accident on the homeowners' property and sue the homeowners for payment of their medical bills. The liability coverage will pay the homeowners' legal bills. If the other party wins the lawsuit, the liability coverage will also pay what is ordered of the homeowners. Part of the cost of a house is the homeowner's insurance policy. People who purchase a house cannot be without it. Homeowners who resist purchasing homeowner's insurance will be very happy they have if there is ever a fire that completely destroys their homes. Their lives will be temporarily disrupted but with a good homeowner's insurance policy, they will be able to put their lives back together one day.
I was hurt on someones property. Can I sue their homeowners insurance?
Technically, you do not sue the insurance company. You sue the homeowner on the basis of what the owner may have done to cause the injury. The insurance company is there simply to pay the damages awarded to you by the jury.
What Two types of insurance should people be aware of when the first start out on their own?
Homeowner insurance
Will homeowners insurance cover replacing windows damaged in a storm?
Depending on which homeowner's policy form you have it will either pay for replacing the windows or the actual cash value of the windows which is replacement less depreciation. Most people will have a Form 3 which will pay for replacement cost.
Do you Need Homeowners Insurance if your House is Paid Off?
A source of confusion for many people who have made their last mortgage payment and now own their home free and clear is whether or not they need to continue to carry homeowner insurance. Most States do not require homeowners to carry insurance on their house, while all mortgage lenders do. Once you receive the Title to your home, you are the official owner of that home. It makes no sense to give up your homeowner insurance just because it is not mandatory. While you can save a few dollars by canceling your policy, if you do so, you are needlessly exposing yourself to great risk either from damage to your home or liability for any injuries that may happen on your property.
Does homeowners insurance cover a bat bite to a visitor?
This type of injury is best covered under ones own medical insurance policy. Unless the bat was a pet scheduled for coverage under your homeowners insurance policy and barring some negligence on the part of the home owner, it is doubtful the homeowner would be liable for such an injury. It's not much different from being bitten by a snake while walking down a sidewalk, most people are generally not in a position to be legally liable for the acts of unowned wild animals.
What happens when your homeowners insurance gets cancelled?
Most people just buy another insurance policy somewhere else. That is usually what happens.
Does homeowners insurance cover a new oil tank?
do you mean the cost of putting in a new tank? If so, it depends. Was the tank simply old and needed replacing? If thats the case- then it won't. Many people think that homeowner's insurance is a maintenance policy- it isn't.. If the existing tank was damaged by a covered event- (fire, etc) then yes, it would pay to replace the tank.
Protect Your Home With Insurance?
Most homes that you buy now require you to have homeowners insurance. This is to not only protect you in the event something happens to the home, but to protect the company who sold you the home. Homeowners insurance is added in with the monthly payment and covers everything from fires to floods. It is a good investment even if you are not buying a home. Homeowners insurance is available for people who already own their home and want added protection.
Which companies sell insurance for people who live in apartments?
Most Property & Casualty insurance companies that write Homeowners Insurance will also sell Tenant Insurance policies. Simply call your local insurance agent to inquire.
Will your homeowner's insurance pay is a tree's roots have grown up through your concrete foundation busted water pipes and heating and air ducts which are under the foundation?
Homeowners Insurance is a "Hazard Insurance Policy" which covers "Sudden Losses" due to the specified perils listed on the policy. Covered Perils are typically Fire, Wind, Hail, Falling Objects etc. Tree roots are typically not a covered peril because this is a property maintenance issue under the complete control of the homeowner. Failure to properly maintain ones home and property can indicate a "Moral Hazard" on the part of the property owner and can result in cancellation of the policy. Most people keep trees and large rooting shrubs cut back away from the homes foundation so as to avoid this type of damage.
