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Posts Tagged ‘cost’

I have a moutain vacation home that I may rent out once a month just to cover the applied mortgage. Is ther any caveots with insurance and what will have to be adjusted and cost extra? Thanks in advance.

Answer:

You should probably just call your insurance company and ask them, tell them you are thinking about doing that and ask them for a quote. If you don’t like it shop around, it might be worth it.

My mobile home caught on fire but only one room was destroyed.The rest of the house,about 90 %, sustained smoke damage. What would happen to the home? Would it be mine or the insurance company’s?

Answer:

They will compare the ‘insured value’ of the home and the cost of repair.

If they believe the repair cost exceeds the value, they will ‘total’ it and pay you the ‘insured value’ (which may be a lot less than the replacement cost).

The damaged property is then owned by the insurance company.

However what are they going to do with a half wreaked house/car etc ? = it’s a real pain for them (sorting ownership documents, selling at auction etc) so almost ALL will offer you the chance to ‘buy out’ their interest in the property by taking a lower ‘value’ pay-out ..

Often you will find the ‘value’ you get will be more than enough to do your own repairs (assuming you put in a lot of your own effort and only pay for specialist for things you can’t do yourself)

Answer:

OK, first of all, it’s going to depend on how close the house is to the water, your credit score, if you’re living in it, how old the house is, and your claims history. If everything is PERFECT, the homeowners insurance part is going to cost about ,000 a year. The wind part is going to cost another ,000 a year, depending on how soon you buy it (Citizens is getting a 55% rate increase soon), and the flood is probably going to run you about 00 a year.

The hard part is going to be finding someone willing to write it. There isn’t exactly any competition in Florida for homeowners insurance.

Answer:

An A rated, admitted carrier

A local agent, who will take the time to be sure you have all the coverages/endorsements you need (like that jewelry floater), and adequate limits

Guaranteed replacement cost on the dwelling (you can’t get that everywhere)

replacement cost on the contents

building ordinance or law enhancement

backup of sewers & drains endorsement

Some carriers have a “bells & whistles” package that incorporates most of these extras, at a discounted price. Plus, you need someone to explain each of these to you, and explain why you may or may not need them.

Keep in mind, some coverages (like flood and earthquake, and depending on where you are located, wind) are NOT available on a standard homeowners policy, and must be purchased seperately.

Answer:

Depends on the type of policy you have.

Some policies are replacement cost. This pays for the cost of a new stove similar to your existing stove. It will not pay the complete cost of an upgrade. But you can take the money and apply it toward an upgrade if you wish.

Some policies are actual cash value. That means they take depreciation. It will pay the cost of a new stove less deprecation.

In either case, your deductible will apply.

You should give your agent a call on money or go by his/her office and ask them. Since they can see the details of your policy – your agent will be your best source of information.

i am doing a school project and the only way to figure it out is to call and talk to a “reprisentitive,” and i would really rather not. I just need a ballpark figure… 0? 00? any ideas?
I am living in St. George, (Utah) and my house cost about 0,000.

Answer:

Well, it’s going to vary WILDLY by location. If you’re in Florida, the homeowners insurance nightmare capital of the world, and you have an “average” house (the median house price in the US is 0,000), you’re looking at 0 a month. If you’re in Pittsburgh, it’s a month. If you’re in Los Angeles, you can’t get anything for 0,000, plus you need to factor in earthquake coverage. Maybe 0 a month.

So with real estate . . . it’s location, location, location.

You might want to edit your question, and add in the value of the house, and the city and state.

Answer:

How are we to know? Do you have replacement cost coverage on your homeowners policy? Do you have a voltage endorsement? The standard homeowners policy doesn’t include replacement – you have to pay extra for it.

Also, the standard homeowners covers damage from artifically generated electrical currents, but NOT loss to tubes, transistors, or similar electronic components. Which, frankly, are MOST of where your damages are going to be.

Even if you work with full-commission (3%) agents, they just work with their favorite title insurance companies. They don’t comparison shop the best deal for you.

How do you find out the quality of service of a title insurance company? How do you find out all the fees that the title insurance will cost you?

Title insurance is to ensure that your home has a free and clear title and no one has a lien or a claim on it. It’s critical and requires professional expertise. You don’t want to do it yourself, and cannot afford to be self-insured. You don’t want to find out by surprise that your home isn’t yours after you’ve paid your down payment and all the closing costs. Title insurance ensures that this never happens, assuming that the insurance company does its job.
Is anyone familiar with the California laws? Is it always the seller’s agent who chooses the title insurance company? Do the laws require that all title insurance companies do pretty much the same things to check the title?

Answer:

title insurance is cut and dry so to speak,

im going thru a large claim on mine right now,
they are really terrible to deal with.
they all have to provide the same coverage, and service as required by the state,
the fees they charge are usually state regulated also, they all charge the state regulated amount, ( like Gap insurance for a car ) its always the same for everyone.
a trip to the register of deeds will save you the money, ( I wish I would have )
if its not on the record the title insurance wont cover it anyway.

I had an easement the title insurance didnt find, and now the easement holder came in and is doing as he wishes all over our property, tearing down trees, removing a building,

It was on record at the court house, and the title insurance still dosen’t want to pay.

Answer:

Contents and Additions & Alterations

Items that you can pick up and take out of the home are classified under ‘contents’. Anything ATTACHED to the structure (i.e. plasma tvs, lighting, kitchen cabs/appliances) are covered under your ‘additions & alterations’ also known as ‘replacement cost’(depending on the carrier you have. Typically people carry about 50% of the replacement cost for their contents, unless they have something of high value.

Certainly there are other riders that you should buy if you have certain items, such as jewelry, fine art and antiques. They are covered under your contents, but placing them on their own rider won’t eat up your contents limit should a total loss occur and sometimes the rate is lower on a separate rider and they typically cover changes in the item’s market value instead of actual cost.

I am thinking of making money with waxing.

I was just wondering how much it would cost me to pay insurance for myself, I am thinking I just need errors and omissions (i.e. liability in case a client decides to sue me).

FYI I live in Canada.

Thanks!

Answer:

You’ll need “trip and fall” coverage, also, and property coverage. And your homeowners will probably cancel you, if you run a salon out of your house.

Salon coverage is pretty cheap; even with professional liability, with “one chair” you can probably find it for around 0 a year.