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Who pays for the home insurance when you are owner financing it? Also in the state of Texas what insurance c?

admin — Mon, 22 Jun 2009 02:30:06 +0000

Who pays for the home insurance when you are owner financing it? The seller or the buyer? Also in the state of Texas what insurance companies provide mobile home insurance?

Who's name is on the title, at the registrar of deeds? Until the title is passed to the buyer, the house is just a RENTAL, and needs to be insured that way. If this is a land contract, the SELLER should keep the policy to 1. make sure it gets paid and 2. make sure they have coverage in place, should the contract revert to rental. The buyer should THEN carry a renters insurance policy.

If the deed is being transferred immediately, then the BUYER gets the policy. Then the seller just has to hope that the policy gets paid.

Most of the time, owner financing is more hassle than it's worth. If the person isn't credit worthy enough to secure a mortgage on their own, they're most likely going to default on YOUR mortgage, also. Then, depending on the condition of the property, you're left with something basically unsellable.

For mobile home insurance, find an agent that represents Foremost INsurance – www.foremost.com. If the home is more than 20 years old, it's uninsurable. After 20 years, they depreciate to nothing.

Home insurance companies are evil!?

admin — Sat, 20 Jun 2009 01:30:36 +0000

Well, some tweakers broke in and took 4,850 in electronics. A new triple core pc, hdtv, sony dream theater system, xbox360, to name a few. And even busted and damaged the door completely! Anyway, the insurance just called and offered me 1,606!! I have gave them some but not all receipts, pictures, etc. I cant settle for that amount! This is just another constant reminder of the idiots that broke in to my home and ruined my life! Im supposed to call the adjustor tomorrow and talk about this measly settlement. I know im not getting all the full amnount, but the offer they gave me was just an insult. What should i tell him? I cant believe i pay a hefty amount to have this insurance, and this is how they disappointed in my time in need!
And yes i know theres an appreciation value, but this too much if u ask me…

They'll throw that "depreciated value" thing at you all day. If you have your original policy, see if there's a clause in there about offering depreciated value, or "replacement value." The company is prepared to offer a reduced settlement to you – the agents are trained for this. BE PERSISTENT. Don't use bad language of course. Rehearse your arguments prior to talking to the agents. Make your point, and keep making it. The point is not to cave in to their low offers. I've seen cases where persistence pays off, and the customer indeed get replacement value. It's a bargaining game, and your persistence will pay off.

Remember. Insurance companies are in the business of selling policies – not paying claims.

why are the Banks and mortgage companies crying about loses when all the home loans have mortgage insurance?

admin — Wed, 17 Jun 2009 22:24:39 +0000

I dont see why they have loses, its the insurance companies that are losing. The Bank collects on the default loan and have the houses too!

Actually, insurance companies have insurance. Ever hear of reinsurance? I know, it pissed me off to learn that as well. None of them are really losing which is why they keep getting richer. Did you know insurance takes about 12% of your net income? Auto, health, dental, life, unemployment, etc.

Also, the properties that don't have PMI are the ones where there is 20% I believe already paid up. That's why the PMI goes away since there is enough to recover from factoring in the house, insurance, etc., etc. It's a whole numbers game, but don't believe that the banks lose out. They've been practicing the art of banking for hundreds of years, you've been doing it for like ten? Whoever thinks the banks will lose on more than a tiny fraction of deals is in la la land.

Where can i compare home insurance companies?

admin — Mon, 15 Jun 2009 21:31:49 +0000

Anyone know?

This site may help you to compare many home insurance companies at once http://best-home-insurance-comparator-usa.blogspot.com/

Hope this help,

I need to find out the home owners insurance information for the house i am renting?

admin — Sat, 13 Jun 2009 19:36:32 +0000

I am having a communication issue with my landlord and he refuses to tell me the name of his home insurance company for the house i currently reside in.I just need to know how to go about finding this out

Unless you are filing a claim for damage to you or another lease – recognized resident of your rented space, or a guest, you may not be able to get the info. The only other reason you can get the info is if you have incurred damage to your owned property as the direct result of the owner's actions or negligence. More info on your situation would help.
If you do not have a policy that covers your personal property and personal liability and medical payments to guests, you need a renters policy!

Florida Home Insurance Companies track records….HELP?

admin — Fri, 12 Jun 2009 07:04:18 +0000

I am shopping around for a new homeowners insurance company and have come up with policy offers from compaines I have never heard of such as Northern Capitol and Universal Property. How can I find out some kind of information on these companies before purchasing my insurance from them? Im currently with Allstate and price went up 150 % !!!!!! in one year. THanks

Normally, you'd check with your state insurance department for complaints, and you'd check their financial strength ratings at www.ambest.com.

I just looked these two up for you. Here's what I found – there's no insurance company named Northern Capitol, or Northern Capital. Universal Property is not rated, and they tried cancelling all their FL homeowners policies, but the state made them take it back. They are an unrated company.

There is NO WAY, absolutely NO WAY, I'd buy a "policy" from either of these companies. I promise you, if you leave Allstate, they will NEVER take you back, until something radically changes in the FL insurance marketplace.

I would have STRONG suspicians that if there's a big claim, Northern Capitol will be insolvent, and Universal Property right behind them – and good luck for you, collecting your $100,000 in hurricane damages. You'll be in line with all the other creditors.

I know you don't want to hear it . . . but pay the Allstate premium. These little fly-by-night companies are going to be popping up all over the place, and shutting down just as quickly. 150% really isn't "that" bad, for the FL marketplace. Expect rates to DOUBLE next year, due to recent FL insurance legislation. It's a horrible situation, I know. But if you don't have an offer from an "A" rated or better, admitted carrier, DON'T MOVE.

Should I report my tenants on the home insurance policy?

admin — Tue, 09 Jun 2009 16:47:02 +0000

I used to live in my house but now I am renting it out. Should I tell my home insurance company that I will no longer live there and tell them about the tenants?

RIGHT AWAY! you cannot have a homeowners policy if you the homeowner do not live in it. your policy needs to be rewritten as a landlord policy. this covers the dwelling (make sure you also keep liability on it). your tenants should then pick up a renters policy to cover their belongings. if you can find a company in your area that will write your property on a commercial package policy, it will keep your premium a lot lower. i have a company that does this and it actually gives them MORE coverages than a regular landlord policy for less premium.

Does anybody know what is the cheapest or one of the cheapest companies to get home insurance from ?

admin — Sun, 07 Jun 2009 18:14:46 +0000

Just bought a towhouse and need to get home insurance…

love_people_please, Home insurance covers lots of different things. I’m not familiar with all the details of my homeowners policy, but my home insurance agent is always helpful. Try contacting your agent or a agent in your area. http://www.usinsuranceadvisor.com/Home-Insurance.html They will be able to assist you.

Does Home Insurance Companies settle lawsuit fast, if so why?

admin — Sat, 06 Jun 2009 06:50:40 +0000

I got hurt and broke my wrist because of my landlord neglience. He left a pipe that was out 6inch of the ground. And i trip over it. So i got a lawyer and Im now in the process of suing him/ Insurance Company. for premise liablity. Will the insurance company settle quick? If so why or why not?

No, it will not settle quickly. Just sit back and expect it to take up to 3 years with an attorney. If you were to go to the insurance company yourself and settle, they would do it immediately.

What companies can I get appointed with in Louisiana to write Home Insurance for my Insurance agency?

admin — Fri, 05 Jun 2009 01:46:09 +0000

I have an Indepenent insurance agency in Houston, TX and I am opening a branch office in Louisiana to offer home and auto insurance for LA residents. However, I am having a hard time finding companies that are appointing agents or writing home insurance other than Louisiana Citizens. Does anyone have any suggestions on some companies that I am able to get appointed with ???? Please help!

aaron t, I found a big list of Louisiana insurance agencies. http://www.findinsuranceagency.com/Louisiana-Insurance-Agents.html I'd try visting one or two of them and see if they can assist you. A insurance agent should be able to help you.