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Know what the value is of the item you are insuring if it needs to be replaced. Ask questions as most people don’t understand insurance. If you still don’t understand, ask till you do. Review your coverage annually with your agent. Have your policies with an A+ rated carrier and don’t let your policy lapse!!
No one likes to pay for insurance, but if you have a loss you will be happy you did!
BTW....the most overlooked insurance is LIFE INSURANCE!
One only needs life insurance if one has dependents that will suffer financially upon your death.
Was this in regard to something FEMA might be able to assist? If you have homeowner's insurance they normally rent you a place.
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How in the hell does one have a mortgage, without homeowner's insurance??
I don't know and I was wondering that myself . Now my sister in law has a home that is paid off and she does not have house insurance either because she says she cant afford the cost . I would not be able to sleep at night if I did not have house insurance you know what I mean ? I don't know how my sister in law can sleep at night . If there was a fire or anything she would loose her behind .
I don't know and I was wondering that myself . Now my sister in law has a home that is paid off and she does not have house insurance either because she says she cant afford the cost . I would not be able to sleep at night if I did not have house insurance you know what I mean ? I don't know how my sister in law can sleep at night . If there was a fire or anything she would loose her behind .
I don't understand it! Don't get me wrong, I understand that food and basic necessities comes first, but if you had a house fire and don't have the money in the bank to rebuild (or at least rent) and pay for all new things (furniture, clothes, etc) I would think one would be in worse shape. Your home is typically your biggest asset! If your homeis paid and you're living pay check to pay check to the point that you can't afford insurance then wouldn't it be smart to take out a Home equity loan or HELOC to consolidate or pay down your debt AND pay for insurance?
Seriously,everyone take a second and think about how much all their stuff would cost to replace (not to mention the house itself). Go room by room. Your stuff is anything that would fall to the ground if you took your home and put it upside down. Every sock, shirt, shoe, forks, appliances, furniture, pictures, frames, TV's, candles, plates, cups, lamps, books, pillows, bedding, towels, etc, etc. EVERYTHING!! Your stuff alone adds up very quickly!!
People take insurance for granted, but as you can see it can definitely be a life saver!
This is connected to the OP. I know if one has a mortgage, they may be required to carry mortgage insurance. But are banks getting involved with the property or homeowners policies? I thought all of that was managed by the actual homeowner?
We just bight our first home, and we purchased flood insurance, but our mortgage company said it had to be from. FEMA list. They told us if we didn't replace it, they would, at a much higher cost. So we replaced it (but still paid twice as much as we had been)
This is a tragedy on top of a tragedy, and perfect examples why these industries need to be regulated. It seem like they can take as long as they like and don't care what happens to their customer in the meantime. I have a coworker who has been out of work and needs back surgery. It has been over a month since she was supposed to get it, but her health insurance feels workers comp should pay, and workers comp. says her back was 't perfect before so health insurance should pay. She is in the middle in pain and out of work.
We had thousands of folks in Jersey who were still waiting for insurance to rebuild their homes in some cases a coupe of YEARS after Sandy.
OP maybe even a used trailer on the property in the meantime?
If you had a mortgage you HAVE to have homeowner's insurance, the bank requires it.
I sympathize (my sister was JUST in the same situation), but you have GOT to get your husband in gear and find out what insurance policy provider you have. Most will rent you a place and furniture.
You will probably have to continue to pay your mortgage, which sucks.
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We just bight our first home, and we purchased flood insurance, but our mortgage company said it had to be from. FEMA list. They told us if we didn't replace it, they would, at a much higher cost. So we replaced it (but still paid twice as much as we had been)
This is a tragedy on top of a tragedy, and perfect examples why these industries need to be regulated. It seem like they can take as long as they like and don't care what happens to their customer in the meantime. I have a coworker who has been out of work and needs back surgery. It has been over a month since she was supposed to get it, but her health insurance feels workers comp should pay, and workers comp. says her back was 't perfect before so health insurance should pay. She is in the middle in pain and out of work.
We had thousands of folks in Jersey who were still waiting for insurance to rebuild their homes in some cases a coupe of YEARS after Sandy.
OP maybe even a used trailer on the property in the meantime?
Regular home owners insurance does not cover flood and flood insurance is only offered through the government. It's literally double or more (depending where you are) than a regular home owners policy so I understand why most don't get it. It's a shame and it is terrible that if one had flood insurance that it is taking that long to rectify! It also only covers $250k towards the dwelling and nothing towards personal property!
If you had a mortgage you HAVE to have homeowner's insurance, the bank requires it.
I sympathize (my sister was JUST in the same situation), but you have GOT to get your husband in gear and find out what insurance policy provider you have. Most will rent you a place and furniture.
You will probably have to continue to pay your mortgage, which sucks.
OP stated that they did NOT have a regular home insurance policy. I believe it was forced place insurance by the lender to cover the loan only.
OP stated that they did NOT have a regular home insurance policy. I believe it was forced place insurance by the lender to cover the loan only.
Sorry, I read through but missed that.... AND had to go look it up.
That sucks.
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Moderator: Relationships Forum / Hawaii Forum / Dogs / Pets / Current Events
Regular home owners insurance does not cover flood and flood insurance is only offered through the government. It's literally double or more (depending where you are) than a regular home owners policy so I understand why most don't get it. It's a shame and it is terrible that if one had flood insurance that it is taking that long to rectify! It also only covers $250k towards the dwelling and nothing towards personal property!
There are many private insurance companies that offer flood. Originally our policy was through our insurance broker, the same broker our homeowners was through (albeit a different company). We are on a lake, but it's a controlled lake, they actually lower the water level in the winter, but they still have it classified as a "special hazard zone". $250k would cover it two times over, lol. But again who knows how long it takes to get paid?
We had horrible stories here about all the adjusters, appraisers and inspectors they hired by the dozens right after Sandy, with no qualifications (one girl highlighted in the story worked as a cashier at 7-11 prior) who messed up people's paperwork, inspections, didn't include things in their reports, all kinds of mess.
No one hears that, because it's old news by then. We have a concert and Christie pronounces himself savior and hero, and once the cameras are gone it's all out the window.
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