Posts Tagged ‘owner’
home insurance? renting to my brother do i need landlord insurance?
i am buying a flat and my brother is going to rent it from me. i will not be living in the flat he will be in it himself.
he will pay me the amount of the mortgage so i will not be making any profit rom the rental.
do i need landlord insurance or what are the options?
Answer:
Yes you need a dwelling fire policy (some people call it landlord insurance). A Homeowner’s policy is only for owner-occupants, so since you do not live there you need a different policy. As the previous poster wrote Talk to your broker!
As for your brother, it is also in his best interest to get a renter’s policy. His contents and his liability cannot be covered by your policy, since it is your policy and not his policy.
Does home insurance pay tickets?
like for4 not mowing the lawn or leaving the trash cans out. What does home insurance pay for?
Answer:
NO. It does not pay for fines. Homeowner’s insurance pays for loss such as fire damage (not arson by owner), hail damage, theft, etc. There is also a deductible, which is the amount you have to pay out of your pocket before the insurance pays, so if you had a 0 deductible, the insurer would only pay for covered losses above the first 0.
Fines are out of your own pocket … it’s a lot cheaper to just mow or hire a neighbor kid to mow for you.
why do I need home owner’s insurance to rent clubhouse?
We have a clubhouse in our condo community that I wanted to rent it for a party. Our management company asked to provide my home owner’s insurance. AFAIU my condo insurance is supposed to cover the inside of my unit. My question is why would they ask for something that has nothing to do with the common property (clubhouse)?
Answer:
They want to see that you have liability coverage in case you damage the clubhouse. They could care less about your property coverage for the inside of your condo.
I got burned on friend’s oven, Is this covered under their home owner’s insurance?
I was burned on frien’d oven. It was a second degree burn, and I was taken to emergency room. I do NOT have health insurance. Is this covered under THEIR home owners insurance? If not, what could it be covered under? Help.
Answer:
They most likely have a provision under their homeowners policy called “medical expense reimbursement”. This is when a visitor (you) comes on the property and is injured due to no negligence of the homeowners. If there actually was negligence involved then you would have to file a claim under the liability portion of their policy. Under the medical expense reimbursement you have no option for pain and suffering…JUST medical bills. One thing to keep in mind, the medical expense reimbursement is a nominal amount…usually only 00 – 00 so if your injury was major, you will still have to file a claim and prove negligence. Hope this helped.
How much does your home owners insurance go up when you own a German Shepard?
On average.
Answer:
It really depends if your dog is on THE LIST or not. Here they aren’t. For me…it wouldn’t go up because I have a CGC title on my dog. While it is just a minor obedience title that shows the dog has basic obedience training it also shows that the owner is responsible and was willing to put work into the dog to make it well socialized and well trained.
when you purchase home owner insurance ,is it legal for them to charge higher rates based on our credit report?
besides the high rate they chage for insuring each type of coverage they normaly offer for the type of coverage and area we are in for that coverage?
Answer:
who has the cheapest home owner insurance in southeast Louisiana after Katrina?
i am buy a house in houma louisiana its a 3 bed room 2 bath brick home and its not in a flood zone no alarms and no pets looking for 1000 ded can anyone help me with that
Answer:
There’s no one size fits all cheapest. Some companies are cheapest on houses less than 10 years old. Some on houses more than 40 years old. Some go strictly by your credit score.
You’re going to have to contact a few local agents to get quotes.
Will home-owner’s insurance cover a dog attack?
My friend owns a house. His friend, who lives with him and pays rent, owns a pit bull who also lives at the house. Today, the pit bull got out of the back gate and attacked a passerby and another dog. How does this work? Could my friend, who owns the house, get sued? If so, would his home-owners insurance cover anything? Is the roommate, who technically owns the dog, at all responsible?
Answer:
I small a lawsuit.
The dog may also be seized by Animal Control if reported. Laws vary by state and municipality.
The homeowner may be liable if he lives there even if he does not own the dog. The owner of the dog will likely also be sued.
As for homeowner’s insurance coverage. It depend on the policy.
In Georgia, is it a requirement for my landlord to have home owner’s insurance?
In Georgia, is it a requirement for my landlord to have home owner’s insurance? He made a comment to me that he does not and someone told me that is not legal..
Answer:
Not if he’s not living there. He should have dwelling insurance but that will not protect you or your property. You should carry renter’s insurance.
Where I can find home owner Insurance policy for my Rental Property?
I have a rental property, which i want to insure? wher I can get help.
Answer:
From the question it sounds like you are the landlord…
Call any of the major insurance players in your area and ask for a non-owner policy. This will cover your liability, the structure and a small amount for your personal property. Most landlords keep very little personal property in their rental homes however things like the stove (if it is a push in type unit) can be considered personal property since it is only coinnected to the home by the gas line and or plugged into the wall.
I have my policies with Farmers however they may not be available in the state you reside in. Also, check with whomevery your primary home is insured with or whomever you have your car insurance with. Most companies offer discounts on multiple policies and or multiple lines.
Check: State Farm, Farmers, Allstate, AAA, American Family etc… If your in CA, AZ, TX or FL I can refer you to some agents I have worked with in the past.
Good Luck
Kevin 866-562-6838 x 106
kruorock@firstratelending.com