Specility Products NJ Insurance Mass Insurance,Broker Insurance Illinois Insurance » So if it turns out the California fires were arson, are the homeowners insured, or do the insurance companies? http://1stavespecialtyproducts.com Specility Insurance in NJ, Illinois and Wedding Insurance Thu, 29 Apr 2010 02:04:40 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 So if it turns out the California fires were arson, are the homeowners insured, or do the insurance companies? http://1stavespecialtyproducts.com/homeowners-insurance-companies/so-if-it-turns-out-the-california-fires-were-arson-are-the-homeowners-insured-or-do-the-insurance-companies http://1stavespecialtyproducts.com/homeowners-insurance-companies/so-if-it-turns-out-the-california-fires-were-arson-are-the-homeowners-insured-or-do-the-insurance-companies#comments Fri, 12 Jun 2009 07:03:36 +0000 admin http://1stavespecialtyproducts.com/homeowners-insurance-companies/so-if-it-turns-out-the-california-fires-were-arson-are-the-homeowners-insured-or-do-the-insurance-companies

get to dodge that cost?

The only time they don't pay out on a homeowners policy for an arson fire, is if the homeowner burns their OWN house. And even then, they STILL have to pay the mortgagee, up to the payoff of the house, or the policy limit, whichever is LESS.

So, if you set your own house on fire, the insurance company won't pay YOU for burning down your own house. But they'll pay off your mortgage. And if it spreads to the house next door, THEIR insurance will pay THEM.

So yes, the homeowners are covered, unless one of them set the fire. In which case, the one who set the fire won't get a dime.

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