Posts tagged "Own Insurance"

How does liability insurance apply to a house?

Question by H L: How does liability insurance apply to a house?
A few weeks ago a city contractor was hired to tear down the condemned building next to our house. Somehow, he managed to nick our house with his trackhoe and took out a chunk of our roof. At the time, he promised to fix it but now his insurance company is using words like “liability insurance” and “depreciation” and it almost sounds to me like this is going to cost US a bunch of money. We considered going through our own insurance but then our rates would go up.

This was 100% his mistake. How do we make sure that he is the one to pay for it?

Best answer:

Answer by Not I
Sue him. Tell his company that the contractor is 100% liable and you will not settle for less then a new roof.
Those insurance words mean nothing to you and you will see the contractor in court. Call the local Building code enforcement office and get an inspector out there
If you do call your insurance company their lawyers will go after the contractor and his insurance company. There will be no raise in your insurance.

What do you think? Answer below!

When do you stop paying home insurance on a foreclosed home?

Our house was not sold at auction and now reverted to lender? We kept up with the home insurance. When does our obligation end for the home insurance? The realtor we talked to that was assigned to the home said we would be given 14 to 30 days before we had to move out. He would work on the 30 days. Our insurance is due the 25th are we still obligated to pay the insurance past that point or has the lender put their own insurance on the home? Our insurance agent has not returned my call into him.

Since the homeowners insurance is also covering your personal property and personal liability, I would not cancel the policy or stop paying until you physically move out of the home. In other words it is best to continue paying it until you move out. Once you cancel the policy the insurance company will send you a refund for the amount you overpaid. When the insurance agent returns your call, make sure that he or she understands that you are still residing in the home.

I am sorry that you have lost your home and wish you better luck for the future.

Does condo insurance cover repair cost to a common element?

Owner damaged the garage door to his condo town. Does he claim against the condo corp. or his own insurance?

It depends but definitly one of them will cover it.
call your agent or your company file a claim and ask them then you can always withdraw the claim if it doesnot cover it. make sure you ask them over the phone first.