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Read both your master policy that covers the condominium association's assets and your homeowner's policy to verify coverage.
Also, the tenant's insurance may be a possibility for coverage.
Basically, it will depend on the cause of the leak, and that will determine which policy, if any, covers the damage.
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What is the cost of a general liability insurance policy purchased by a renter to protect the owner of a dwelling from the actions of the renters pet?
It doesn't. Neither Homeowners insurance nor Renters insurance provides coverage for damages incidental to or resulting from from our election of pet ownership.
Is homeowner liable for hidden liability. Present owner of property bought home. Manhole was cemented over by previous owner causing a blockage in sewer line shared by neighbors. Is homeowner liable?
NO, you would not be liable for an unknown, undisclosed, pre-existing condition as described. Neither homeowners insurance company would likely consider the situation a covered peril under the terms of a home insurance policy. This seems to be a maintenance issue that would need to be addressed by the individual homeowners. It would be advisable that the homeowners contact a plumbing service and have a separate sewage access main installed on each homes property to facilitate future maintenance.
Will renters insurance pay if a car is hit on property?
No, Renters insurance is coverage specific to household property or contents owned by the named insured. It does not cover the property of others and it does not cover automobiles. Neither Renters insurance nor Homeowners insurance will cover damage to an automobile. That's what auto Insurance is for.
Is auto insurance mandatory in Alabama?
Yes, all cars must be covered by a liability insurance policy. The minimum coverage includes $25,000 injury liability for one person, $50,000 for all injuries in an accitdent and $25,000 property damage. There is an option to have get a motor vehicle liability bond or make a deposit of cash with the state treasury with neither being less than $50,000.
Is depreciation expense an asset or liability?
Depreciation expense is neither an asset or liability. It is an expense.
Paid-in capital a asset or liability?
Neither, it is equity
Is wage expense a liability or owner's equity?
neither
Does met life homeowners insurance cover cracked bathroom shower tile due to improper installation or settling?
A Met Life homeowners policy is a standard homeowners policy and would be the same as most other policies. Damage due to improper workmanship or settling of the home would not be covered on any homeowners policy. Loss must be due to a covered cause in order for the loss to be covered on the policy. Neither of these items are a covered cause.
Is wages expense a asset liability or owners equity?
neither
Is wage expense asset liability or owner's equity?
neither
Does homeowners insurance cover water damage due to poor siding installation?
No, Homeowners insurance does not provide coverage for maintenance issues nor for quality of workmanship.Occasional upkeep and replacement of siding is an normal and expected maintenance issue incidental to home ownership.If it was installed incorrectly then you could turn to the general liability insurance policy of teh contractor who installed it for coverage.If it was in that condition when you purchased the home then your would turn to your Home Buyers Warranty for coverage.
Is loss an asset or a liability?
Neither. A Net Loss is a reduction of Equity.
