 What type of water causes problems with insurance? |
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 Legally, can a child be covered under two insurance policys? |
| My husband and I live in Wisconsin, My step sons mom lives in Texas. He is currently covered under our insurance plan. He will be going to see his mom in Texas in a few months, legally is she allowed ... |
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 Applying for health insurance, will i be tested for smoking? |
| i assume they test for aids, etc., but will they test for nicotine?... |
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 Low income health insurance? |
| One of my friends recently came to US from a different country. She sold whatever she had and came to US with 25000$. Recently since she was sick she had to go to emergency room for three days. The ... |
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 What individual health insurance is good but cheap in Forida? |
| Hey. Please somebody help me. I am employed but don't get any health insurance. I am 27 and single and need a good health insurance but cheap. I live in Florida. Can somebody can help me with ... |
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 I have a $2000 deductible on my health insurance, and scheduled for a minor surgery....? |
| will I be able to make payments to my insurance company, and if so how much should i pay a month??... |
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| im a pregnat woman and im not married and i have no insurance. i only make about $150.00 a wk. I do live with the father and they keep going off his income and say i dont quilify. I dosent makes ... |
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| To all of you who answered the walmart question with sarcasim, why? I come on this site to ask a question and get a fair respectable answer, not to be disrespected. so this is not a question, but a ... |
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 If my car doesn't have collision coverage for car insurance? |
| if my car insurance doesn't include collision damages (when i'm the violator), does that mean my insurance company (geico) doesn't pay for any of my car's damages?... |
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 What does "subject to calendar-year deductible" mean for a health insurance plan? |
| I'm applying for Anthem health insurance, it says for Office Visit, "You pay 0%; subject to calendar-year deductible". The deductible for the plan is $10,000/year. What does "... |
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| I just moved to the States from Canada to work as a nurse and I'm trying to figure out how health insurance works down here. What is the difference between Medicare & Medicaid? And what are H... |
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| We want to stay with her current OBGYN but it has been a while since our daughter had insurance, almost a year.... |
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| My dad is a broker in the insurance business. We cant really afford to have fansy billboard and other expensive adverts. However we have a good data base and get repetitive sales from our current ... |
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cool_01 | Does homeowners insurance pay off your mortgage if the house is lost? |
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MoniqueLise
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No. Your homeowners insurance will pay out the value of the policy. So, if you have a mortgage of $100,000 and you only have insurance for $80,000 -- the insurance will pay you $80,000.
Your best bet is to make sure that your insurance will pay out the full replacement value of the house. That still may not pay your full mortgage (because your mortgage will include the full cost of the property and that includes the land, which the insurance does not pay for in the case of a lost house.) |
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City
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NO...it covers replacement of your home. Ask the folks in San Diego that lost their homes in the fire...they are still paying on their mortgages...
Be sure to update your policy regularly as well....building costs are constantly going up and your homeowners should reflect those escalating costs... |
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Samantha Thompson
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It probably does. |
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LesElle
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Gads - let's get this straight. Homeowners insurance is not mortgage insurance. Homeowners insurance will pay to repair/rebuild your house if damaged by a covered peril. House gets damaged -- contractor gets hired to do the repair. You just keep paying your mortgage. It has nothing to do with homeowners insurance. "Mortgage insurance" is a life insurance policy, basically. You might buy a policy on your life that equals the value of your mortgage so that your spouse, in the event of your death, could pay off the mortgage and not have to worry about having a roof of their head (due to the loss of you and your income). There is more to say on this topic but you get the gist... |
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mbrcatz
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It only pays up to the face value of the policy - so if the house is insured for more than the mortgage, less demolition costs, the answer is yes, if the house is "lost" to a covered peril. |
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john a
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If your house is mortgage, yes it is! Simple. |
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tony1athome
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That depends entirely on your policy. Strictly, most people structure the insurance so that their benefit would cover the cost of the mortgage. The two aren't directly tied, so the insurance company would pay you, and you would pay off the mortgage. |
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