 Cheapest Insurance for me? |
| I am looking to get insured for a 2006 Mitsubishi Evolution. I am 20 years old, and a clean record. I applied for progressive, and for the basic I was quoted $150 per month. But since I have a loan I ... |
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 Do I have to get flood insurance? My mortgage company sent me a letter? |
| I got a letter from my mtg company saying flood coverage is required. Apparently, I'm in Zone A. What can I do about this? I can't afford hundreds in additional premiums - I already have to ... |
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 My insurance pay for my truck but my bank say's i still own 6,000 dollars of interest? |
| well i total my truck but now my bank says that i still need to pay 6000 worth of interest so i dont know what to do im need to get into a car but i still have to pay for my other truck but does this ... |
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 Should I let the policy lapse or surrender it? |
| I hold 2 policies: an endowment and a whole life policy. I have bought these policies for about 1.5 year already. Now, I realized the higher costs are not justifiable and like to terminate these ... |
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 Insurance didn’t pay for my delivery, why?? |
| I had my baby Jan 3, 2.5 weeks early. I looked on the insurance website just a minute ago and they have denied everything that had to do with my hospital stay. Why and how can they do that. I am ... |
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 Anybody thinks it is a waste of time to have Property Insurance? |
| I live in a hurricane zone and apart from that I have always been afraid of fire or earthquakes. The cost is almost prohibitive, but my house is now insured, in time for the hurricane season and I ... |
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 Do I need a non-owner's insurance policy? |
| I am going to sell my vehicle soon. I will no longer need car insurance. Do I need to purchase a "non-owners" policy? I know that when I eventually do buy another car + insurance, they ask ... |
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 Does homeowner's insurance pay for...? |
| an injury that was recieved on someone's property? My son, who is an adult, tripped fell and broke his arm at a friend's house. My son has no insurance. Is the friend liable since it was at ... |
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 Does anyone know an agency or foundation that will help with funeral costs? |
| My mom died 3 months ago and I'm still struggling to pay the remaining burial costs.... |
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 Flooding....? |
Why should those who havent paid for home insurance complain that the government isnt helping them? Surelly, if they recieve financial aid, why bother with insurance?
Its a tragedy and i dont ... |
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 What kind of life insurance do we need? and what is a good company to buy from? |
| My husband and I are 28 years old, have three children and plan to have one more child in the near future. We live in Virginia (DC area). His annual earnings are about $70k; I also work part time ... |
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 Life insurance beneficiary refuses the proceeds |
| assume my father had a life insurance policy for 1,000,000 on his life with me as the beneficiary. upon his death i recieved the proceeds and did not touch one penny. six months later i decide that ... |
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 How to find out someones insurance company to file a claim if they will not cooperate? |
| I FELL DOWN MY APARTMENT STAIRS FOR THE 3RD TIME AFTER VERBALY AND IN LETTERS ASKING THE LANDLORD TO REPAIR THE STAIRS AND MAKE THEM SAFE. THERE HAS BEEN A POSTMAN, POLICEMAN, AND MY PREGNANT DAUGHTER... |
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 Okay, I have a massive hospital bill in the state of Oklahoma. I am not an Oklahoma resident, I am a? |
| Louisiana resident. I have a Louisiana Medical Card and I was wondering if I could use that for the bill, even though this happened back on June 30. I literally can't afford to pay this bill. It ... |
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steve | Dang insurance company question...? |
i am a home owner and moving out of the country for 1 year. i have rented my house out to a couple of tenants (same 2 people will occupy the house for the year). i have done this twice in the past and have home owners insurance and it has been ok because as long as the house is occupied by someone, it is not at that great a risk of break ins, fires, etc.
this time, my home owners insurance is forcing me to buy additional insurance from another company that will cover 'things that might happen while i am away.'
for example, they are forcing me to put up a railing next to the 3 steps that lead up to my porch because this is a 'safety risk' to my tenants...
why is my ins co making me do this? is this necessary? i thought that my home owners ins would cover the usual things and if the tenants want, they can take out their own renters insurance.
whats the deal? |
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LuvDylan
|
Now you are a landlord, and you can be sued for physically hazardous and medically harmful situations, for example falling off the porch or mold in the house.
Your homeowner's is not OK because the policy ususally has provisions saying you must be presently living in the house.
You need to buy landlord insurance incase they burn your house down. If your homeowner's insurance co found out you were not living in the house at the time it burned, they won't pay out because you would be in violation of the policy. Check your policy. See if I am right. Don't believe the agent. Check the policy.
Renter's take out insurance incase the house burns up and it is their fault; you should require they buy renter's insurance too, so your insurance co can sue their insurance co in case of a fire.
If property insurance was a "single payer" like all insurance "should be", then the cost would be very low. Unfortunately it is profit motivated and not insurance coverage motivated, so people pay much more than would be required under single payer. Keep the faith. Maybe we can get single payer for health care AND property insurance. |
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Classy Granny
 |
I am a homeowner of a two family house. Insurance company's demand things like the railing as a safety issue. They don't want a tenant falling and suing you and you in turn would turn it over to them.
There are things that you must provide a tenant that you might not have there for yourself. I had to install smoke alarms in all bedrooms. |
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car253
 |
LuvDylan had the best answer here.
You need a Rental Dwelling policy for the home since you do not live there and not a homeowners policy.
You should also require the renters to have renters insurance. And, insurance companies can require you add safety features to the home as they asked you to do. They can also require you to change your roof it is not in good shape. They want to prevent a loss from happening. That is good for you and for them. |
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Andrea
 |
The insurance companies are definitely hung up on the hand rail for 3 steps or more. I'm expecting to hear from my new company any day now about my front steps needing it. (The first step is all of 2 inches from ground level!) It shouldn't be a big deal to put up a handrail.
Technically, because you won't be living there but will have tenants, unfortunately they are correct about needing more or different insurance. Think about it - you won't be there and able to control things. Your tenants, not being owners of the property, may not care quite as much as you about the property. You definitely want to cover yourself because your liability really does go up.
I know it stinks but I really think it's worth it to protect yourself. Good luck. |
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Tina
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The three step railing is the norm, the insurance company or agent must have come to the house and noticed it and any insurance company will request a railing. Also insurance companies do not think tenants will take as much care with your home as you would. You could ask the tenants to take out renters insurance but your company still has a right to request you have additional insurance. |
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stephenweinstein
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1. Regular homeowners insurance covers owner occupied properties. For rental property, the owner usually needs commercial insurance.
2. Homeowners insurance also covers liability. If someone (either a tenant or a guest) is injured due to an unsafe condition and sues the property owner, the insurance company defends the owner in court or pays a settlement to the plaintiff. The risk of a lawsuit for personal injury liability is much greater for the absentee owner of a rental property than it is either for a tenant or for the owner of an owner-occupied single-family property. |
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