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0
votes
1answer
23 views

Old -versus- New- Mobile Home that should carry Homeowners insurance?

A brand new mobile home was put on 4 acres that I own and there is another much older mobile home on the property, which one should carry "Homeowners insurance?
1
vote
1answer
28 views

Contribution Principle for Insurance

I was reading up on Contribution Principle of Insurance when I came across the following example used to explain the concept In the homeowner example, if the owner bought two $250,000 policies on ...
7
votes
1answer
145 views

At what damage amount should I pursue a homeowner's insurance claim?

We have a recently built house (2008). This past year, a roof leak materialized. I am out of pocket $3250 for several contractor visits that tore out interior drywall, recaulked flashing and siding, ...
1
vote
0answers
29 views

Actual Cash Value (ACV) of a remodeled mobile home

I have an investment mobile home manufactured in 1972. Last month a contractor was removing trees and landed a big one on my mobile home, cutting it in half and totaling it. My question is regarding ...
1
vote
1answer
110 views

Home warranty policy is not in effect

I bought my current house in dec-2014 and during the buying process I got the home owner's warranty which was paid by the escrow account ($550.00). This warranty should be good for an year and renewed ...
2
votes
1answer
89 views

How do insurance companies calculate cost of replacement, specifically for a bike?

I had my bike stolen from my apartment. My renter's insurance covers "cost of replacement" for my bike. However, my bike was 8 years old and the model is no longer made. Bike costs in general have ...
6
votes
2answers
1k views

Is life insurance linked to mortgage always a good idea?

My husband and I are 30 years old, have stable jobs, and earn roughly the same salary. We are buying our first house, with a 35% down payment. The monthly mortgage works out to ~15% of our combined ...
5
votes
3answers
274 views

How does visibility of a house from the road or neighbors effect home owners insurance costs?

When applying for home insurance I was asked: Is the house visible from the road? Is the house visible from neighbors' houses? How are the answers to these questions likely to change the ...
-1
votes
2answers
85 views

Figuring flood insurance into financing cost

I've been keeping the mortgage on my house, even though I have the savings to pay it off, because it's at 3.8% and my investments are expected to return at least twice that. However: I'm in a ...
0
votes
1answer
53 views

How much CMHC fee do I need to pay if I cannot put 20% down on a new home

I am trying to calculate how much CMHC fee I will need to pay if I can only put in 10% downpayment on a new home as opposed to 20%. So as per this calculator: It shows:8640. My question is: is the ...
-3
votes
1answer
92 views

I own but do not live in a flat. Am I responsible for damage caused to neighboring flat? [closed]

I am on the title and mortgage of a flat with my wife (soon-to-be ex-wife). I moved out of the property a couple years ago and still pay my part of the mortgage. Since then my (soon-to-be ex)wife has ...
4
votes
3answers
3k views

Home Insurance: Must I use money from a claim for repairing everything I'm receiving money for?

I received a check from my insurance company to replace my entire roof after a recent storm. However, two different roofing companies came out (prior to the insurance adjuster) and said that in their ...
9
votes
5answers
2k views

Can one insure a home's AC unit?

My mother-in-law would like to insure her single family home AC unit while my wife and I are informally renting a room with her. Is this possible? Although the unit is 10 years old and runs fine, she ...
2
votes
1answer
86 views

Homeowner's policy - will insurance pay coverage amount in case of a loss?

I am reviewing my homeowner's policy that is due for renewal and I think I may have too much coverage. My question: will the insurance company pay the coverage amount if the building is a total loss ...
2
votes
1answer
242 views

Home insurance score drastically decreases after car insurance claim?

I noticed something very peculiar on my home insurance. My parents have horrible credit, so last year they purchased a van in my name, with a finance plan. A few months ago, my father was involved in ...
2
votes
2answers
137 views

Method for calculating the wisest amount of liability to purchase for car & home insurance?

I've seen the advice to get enough liability insurance as you have in total assets, i.e. if your owned home, owned car & savings = $100,000, then get $100,000 liability coverage. What is the ...
8
votes
1answer
649 views

Insurance for a house which is not homeowners insurance?

My wife and I moved last summer, and our former home is still on the market. We were recently informed by our homeowners insurance company that because the house is no longer owner occupied, they will ...
4
votes
2answers
2k views

How can I get values of household items for my homeowners insurance?

I have homeowners insurance that covers my home and has a flat coverage for household items. For additional coverage you need to provide evidence of value. We have many items for which we don't have ...