I live in a building insured by my society. Would I need to take additional Home insurance?
There are several convenient methods to pay your Homeowner’s Insurance premium. You can make online payments with your bank account, debit card or credit card. You can also make payment through a check from your savings bank account. You can also authorize your bank or credit card Company for...
You can sell your property any time you wish. The same goes for your homeowner’s policy. However, what is important is the timing. If you cancel your home insurance policy even before the property has been transferred to the new owner, then the liability is still with you. What...
In home insurance, the value of structure is not important as there are more pressing and important considerations. The value of structure is just the cost of construction of the hose. This value can be given by a civil engineer or an architect. However the insured value should be...
In case of any damage to the insured property, the first step is to contact the Insurance Company for filing the Home Insurance Claim.You have to produce your Homeowners Insurance Policy, which has the below information:The first page of the policy called the declarations page, and it contains...
The basic documents that are required for getting a Homeowners Insurance are the documents relating to your ownership of the property, your Social Security Number, DOB certificates, ID or Driving License, Address and Contact details, Information about your job, your family details and who would be occupying your property,...
People who go for homeowner’ insurance, often mistakenly think that they are covered from all natural perils. A homeowner’s insurance policy does offer coverage for damage caused by fires, lightning, windstorms and hail; but not all natural disasters are covered.For instance, damage caused by acts of God such as...
As the name implies, anyone who owns a home can take homeowner’s insurance. Even if the house is on mortgage, you can take home insurance. In fact the mortgagor will insist that you take hoe insurance so that in case of calamities his financial interests in the mortgage of...
A home is one of the most precious assets a person can have; and to pay the homeowner’s insurance every year can be a very heavy burden. Yet people go in for home insurance in the assurance that if any calamity strikes their house, the insurance company can pay...
Often we come across cases where the home insurance claims have been denied. This forms one of the major complaints against home insurance companies. There are several reasons why the insurance companies deny payment of insurance. A few of the most glaring reasons are the following: Default in payment of...
Yes, the Home Insurance Companies can drop you if you had filed too many claims. This is because no insurance company would like to pay for too many claims from the same property.This is irrespective of whether these are genuine claims or not. The insurance company may also enhance...
Home insurance companies can drop the insurance coverage on your house owing to a number of business reasons, and they can also cancel or refuse to renew policies. It happens when the insurer finds that it is too risky to insure the property.Some of these reasons can be:Insurance...
The answer to this query is an emphatic “Yes”.  Insurance companies have been known to have cancelled Homeowners Insurance, or have refused renewals at the drop of a hat, without assigning any reason to you.However, there are certain definite reasons behind such actions. First and foremost, you must remember...
Losing your home insurance can have very serious implications for you, especially when your house is on mortgage. Every mortgage lender requires you to insure your house to protect their interest.Once you lose your home insurance for any reason whatsoever, the mortgage company is informed that there is no...