Sign Up

Continue with Facebook
Continue with Google
or use

Have an account? Sign In Now

Sign In

Continue with Facebook
Continue with Google
or use

Forgot Password?

Don't have account, Sign Up Here

Forgot Password

Lost your password? Please enter your email address. You will receive a link and will create a new password via email.

Have an account? Sign In Now

Sorry, you do not have a permission to ask a question, You must login to ask question.

Continue with Facebook
Continue with Google
or use

Forgot Password?

Need An Account, Sign Up Here
Sign InSign Up

Ansfind

Ansfind Logo Ansfind Logo

Ansfind Navigation

  • Home
  • About Us
  • Contact Us
Search
Ask A Question

Mobile menu

Close
Ask a Question
  • Home
  • Communities
  • Questions
    • New Questions
    • Trending Questions
    • Must read Questions
    • Hot Questions
  • Polls
  • Tags
  • Badges
  • Users
  • Help
  • Contact Us
  • Home
  • About Us
  • Contact Us
Home/Questions/Q 754
Answered
Pinned
Ramesha Dodmani
Ramesha Dodmani

Ramesha Dodmani

  • 17 Questions
  • 10 Answers
  • 1 Best Answer
  • 144 Points
View Profile
Ramesha DodmaniPundit
Asked: February 11, 20202020-02-11T12:56:56+05:30 2020-02-11T12:56:56+05:30In: Finance

what is Home Insurance and what it covers?

what is Home Insurance and what it covers?

Most people don’t know what this home insurance and what it covers under the name of homeowner’s insurance. As per my knowledge, I hope the purpose of this home insurance, such as well as you can imagine it consists in provide protection to the customer in damage that can suffer his heritage. In a single policy we can include several types of items, like for instance: The structural damages that can suffer a home because of some earthquake or fire, loss of certain goods that are in the house, robbery etc. In order to hire a home insurance it is necessary that at least one the owners of the house, live in it, but if not, the request is refused almost immediately by the insurance company. please clarify that am I right about the home insurance.

home insurance
  • 2
  • 2
  • 358
  • 0
  • 0
Answer
Share
  • Facebook

    Related Questions

    • How Much Life Insurance Do I Need?
    • What does SWIFT code mean in banks?
    • How to Invest in Mutual Funds?

    2 Answers

    • Voted
    • Recent
    • Oldest
    1. rtn

      rtn

      • 10 Questions
      • 35 Answers
      • 6 Best Answers
      • 175 Points
      View Profile
      rtn Explainer
      2020-02-11T12:59:20+05:30Added an answer on February 11, 2020 at 12:59 pm
      This answer was edited.

      Home Insurance most people know what home insurance covers under the name of homeowner’s insurance. The purpose of this, such as well as you can imagine it consists in provide protection to the customer in damage that can suffer his heritage.

      In a single policy, they can include several types of items, like for instance: The structural damages that can suffer a home because of some earthquake or fire, loss of certain goods that are in the house, robbery, etc.

      In order to hire home insurance it is necessary that at least one the owners of the house, live in it, but if not, the request is refused almost immediately by the insurance company.

      In the same way, the criteria that they are considered to determine the real value that home insurance would have varied greatly from case to case. However, what definitely represents a reliable indicator for the companies is calculating which one would be the price that they would have to pay in the event the house was a total loss.

      These contracts usually sign themselves in the long term, since the installments of the monthly payments can become a little bit lofty. Before closing down the deal, the customer has to make a revision thoroughly like the benefits and the fines for non-fulfillment find themselves properly expressed in the document. Just the same, it is strongly recommended to check the list of things that are insured and which are not.

      One thing that not everyone knows is that almost no insurance company covers the following eventualities: flooding caused for intense storms or hurricanes, the explosion of a bomb, the presence of termites among other things.

      Also, it is pertinent to point out that the payment that the insurance makes to the customer when his heritage damaged, it corresponds to the calculation of the inflation rate that is operating at that moment.

      An aspect that we have not talked about is the houses that are located inside a zone of low risk, logically assigned a much lower rate. This can happen for instance if your residence is close to a fire station or if its infrastructure has a system of smoke detectors and artificial precipitation.

      Besides, in the United States, the people that need a mortgage loan should present to the bank a document that verifies that their property is insured in order that they are given the money.

      It is a good time to pause and so to explain the origin of the first home insurances within the United States. According to the historical records, it is known that home insurance was in the year 1950 when this tool of protection against damages was used for the first time.

      Before that period, there were several different criteria of evaluation, with what it was becoming impossible knowing for sure the causes that they should have covered up with this service. It was not but even two decades later when in 1971 the Insurance Services Office created an instructions manual simplified that it allowed knowing and understanding all relevant issues in an easy and simple way. Today some of these standards continue being used.

      • 2
      • Reply
      • Share
        Share
        • Share on Facebook
        • Share on Twitter
        • Share on LinkedIn
        • Share on WhatsApp
    2. Ramesha Dodmani

      Ramesha Dodmani

      • 17 Questions
      • 10 Answers
      • 1 Best Answer
      • 144 Points
      View Profile
      Best Answer
      Ramesha Dodmani Pundit
      2020-02-19T22:06:52+05:30Added an answer on February 19, 2020 at 10:06 pm

      Home Insurance most people know what home insurance covers under the name of homeowner’s insurance. The purpose of this, such as well as you can imagine it consists in provide protection to the customer in damage that can suffer his heritage.

      In a single policy, they can include several types of items, like for instance: The structural damages that can suffer a home because of some earthquake or fire, loss of certain goods that are in the house, robbery, etc.

      In order to hire home insurance it is necessary that at least one the owners of the house, live in it, but if not, the request is refused almost immediately by the insurance company.

      In the same way, the criteria that they are considered to determine the real value that home insurance would have varied greatly from case to case. However, what definitely represents a reliable indicator for the companies is calculating which one would be the price that they would have to pay in the event the house was a total loss.

      These contracts usually sign themselves in the long term, since the installments of the monthly payments can become a little bit lofty. Before closing down the deal, the customer has to make a revision thoroughly like the benefits and the fines for non-fulfillment find themselves properly expressed in the document. Just the same, it is strongly recommended to check the list of things that are insured and which are not.

      One thing that not everyone knows is that almost no insurance company covers the following eventualities: flooding caused for intense storms or hurricanes, the explosion of a bomb, the presence of termites among other things.

      Also, it is pertinent to point out that the payment that the insurance makes to the customer when his heritage damaged, it corresponds to the calculation of the inflation rate that is operating at that moment.

      An aspect that we have not talked about is the houses that are located inside a zone of low risk, logically assigned a much lower rate. This can happen for instance if your residence is close to a fire station or if its infrastructure has a system of smoke detectors and artificial precipitation.

      Besides, in the United States, the people that need a mortgage loan should present to the bank a document that verifies that their property is insured in order that they are given the money.

      It is a good time to pause and so to explain the origin of the first home insurances within the United States. According to the historical records, it is known that home insurance was in the year 1950 when this tool of protection against damages was used for the first time.

      Before that period, there were several different criteria of evaluation, with what it was becoming impossible knowing for sure the causes that they should have covered up with this service. It was not but even two decades later when in 1971 the Insurance Services Office created an instructions manual simplified that it allowed knowing and understanding all relevant issues in an easy and simple way. Today some of these standards continue being used.

      • 1
      • Reply
      • Share
        Share
        • Share on Facebook
        • Share on Twitter
        • Share on LinkedIn
        • Share on WhatsApp
    Leave an answer

    Leave an answer
    Cancel reply

    Browse

    Choose from here the video type.

    Put Video ID here: https://www.youtube.com/watch?v=sdUUx5FdySs Ex: "sdUUx5FdySs".

    Sidebar

    Ask A Question

    Stats

      • Popular
      • Answers
      • Emma

        How to keep relationship strong?

        • 7 Answers
      • Emma

        how to save your marriage when you feel hopeless?

        • 4 Answers
      • Sophia

        How to Lose Belly Fat Naturally in a Week?

        • 4 Answers
      • Ramesha Dodmani

        What Does MBN mean on snap chat?

        • 3 Answers
      • Salomi

        Which software is best to edit YouTube videos? Filmora or ...

        • 3 Answers
      • rtn
        rtn added an answer TBH stands for "To Be Honest". I also asked the… January 8, 2021 at 4:32 pm
      • rtn
        rtn added an answer Emails are preferred formal communication channel for professionals and personals… January 8, 2021 at 2:18 pm
      • anu
        anu added an answer Mean value of mass of the ring will be given… December 27, 2020 at 8:00 pm
      • rtn
        rtn added an answer For video editing, There is plenty of apps/software are available… December 22, 2020 at 1:03 pm
      • Anonymous added an answer "Converting JPG to FBX is impossible". FBX format only accept… December 11, 2020 at 8:29 am

      Top Members

      Manu Murthy

      Manu Murthy

      • 20 Questions
      • 153 Points
      Explainer
      Emma

      Emma

      • 13 Questions
      • 87 Points
      Teacher
      Shobha

      Shobha

      • 0 Questions
      • 67 Points
      Teacher

      Trending Tags

      Analytics android car insurance children learning computer country code fashion food google job lose weight phone realme samsung school smartphone stroke weight loss women xiami youtube

      Explore

      • Home
      • Communities
      • Questions
        • New Questions
        • Trending Questions
        • Must read Questions
        • Hot Questions
      • Polls
      • Tags
      • Badges
      • Users
      • Help
      • Contact Us

      Footer

      • Privacy Policy
      • Terms & Conditions

      © 2020 Ansfind. All Rights Reserved

      Insert/edit link

      Enter the destination URL

      Or link to existing content

        No search term specified. Showing recent items. Search or use up and down arrow keys to select an item.