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Those people who own single family homes, or units such as condominiums or cooperatives, need homeowners insurance.
Most homeowners policies provide physical damage coverage for the structure of the home if damage is caused by a covered peril. Another element of the coverage is for the contents of the home, also, if damaged by a covered peril.
A very important element of homeowners coverage is the liability coverage that it also provides. That is, it serves as protection for the homeowner/insured if a third party is injured on the insured premises by reason of the fault or neglect of the insured or those for whom he/she/it is legally liable. That protection consists of providing a source of payment to the claimant (indemnity), and if liability or damages are contested, a defense (the insurer hires and pays an attorney to defend the insured).
Lastly, anyone who has a mortgage on a home needs homeowners insurance. This will generally be required by the lender in order to ensure that there is a source of funds to repair the home and thereby to preserve the value of the collateral for the mortgage.
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Is a utility vehicle cover by homeowners?
No. It needs it's own separate insurance. Homeowners insurance excludes vehicles.
Can an insurance company cancel homeowners if foundation needs some resurfacing?
yes
Homeowners Insurance?
form_title=Homeowners Insurance form_header=Protect one of your most important assets with homeowners insurance. Get the homeowners coverage options to suit your life. Do you already own homeowners insurance?= () Yes () No Does your current homeowners insurance cover flood damage?= () Yes () No () Don't have homeowners insurance Are individual items in your house, such as your TV, covered by homeowners insurance?= () Yes () No () Not Applicable Are you looking to get homeowners insurance or update your current insurance?= () Get Insurance () Update Insurance
Would the homeowners insurance cover medical bills due to an assault?
No. Homeowners Insurance typically do not provide liability coverage for criminal acts. Your medical insurance is a good source of coverage for health care needs.
Does homeowners insurance cover your mortgage if you are laid off?
No. This is not what homeowners insurance is for. Homeowners insurance is to pay for physical damage to your home and contents.
Will homeowners insurance cover contractor leaving job unfinished or fraud?
no it won't. homeowners insurance needs to meet the definition of an "occurrence" to trigger coverage - an uncompleted job doesn't trigger the homeowners policy. contact better business bureau and attorney general (if fraud is involved)
Will homeowners insurance cover cost of removing dying and perhaps dangerous trees?
Your homeowners insurance policy typically does not provide coverage for maintenance and pruning of your landscape or its associated foliage. This is a maintenance issue and needs to be paid for by the homeowner.
Does homeowners' liability insurance cover personal injury on another property?
No, your Homeowners Insurance will not. Your Medical Insurance Will.
Will the homeowners insurance go up if spouse dies?
No. This will have nothing to do with the price of the homeowners insurance.
Does homeowners insurance continue after the owners death?
Homeowners insurance will continue after an owners death. The Homeowners insurance policy will typically be paid for by the executor of the estate and become his or her responsibility.
Does homeowners insurance cover slashed tires?
NO. Homeowners insurance policies do not provide coverage for automobiles. That's what auto insurance is for.
Does a standard homeowners insurance policy cover the death of the insurer?
No, Homeowners Insurance does not provide the coverage of a life insurance policy.
