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Q: Can you take out more than one renters insurance policy?
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What is a risk specifically excluded from a homeowners insurance policy?

If you take a look at the "Exclusions" section of your policy you will see several perils which are specifically excluded. For example, if your home is damaged by "war" then your insurance company will not provide coverage for the loss. There are several excluded perils. Take a look at your policy for more examples.


What if you don't have homeowners insurance?

If you don't carry homeowners insurance and you have your home financed, you are breaking the contract and your bank will take out a forced place policy to cover their interest in the home and you will have to pay the premium which is far more than a homeowners policy. If it's not financed, you take the entire risk of loss upon yourself.


How does insurance company benefit from life insurance?

As with any kind of insurance, the insurance company benefits by distributing risk according to statistical models, finding out how much it would cost them to pay out claims against all their insured clients, and then charging their clients more than their analysts tell them they will have to pay. With life insurance you pay an annual premium that could be fixed, or could go up significantly the older, more sickly, or more likely to die you become (depending on your type of coverage). So if you are twenty years old and take out a 20 year term life insurance policy, the insurance company knows what the exact % chance is that a person who more or less fits your description will die in the next 20 years. They factor that out across all their customers, and then they charge their customers more than they expect to pay out. Insurance benefits unlucky people and insurance companies. Everyone else loses.


Can someone else take out a life insurance on you?

Yes, so long as they have your authorization on it if you are of the age of majority and they would need to have an insurable interest. Also, your family members may take a policy out on you when you are a minor without your authorization.


Unoccupied Property Insurance Important for Vacant Homes?

Many homeowners believe that their insurance company will provide coverage for a house in which no one is living. This is true�but only to an extent. If your home is unoccupied for 30 days or more, you need unoccupied house insurance. If your insurance company discovers that no one is living in your home, your policy could be cancelled. Why? Unoccupied residences are prime targets for thieves and vandals, therefore making them high risk. Unoccupied house insurance is an attractive option for consumers who are moving, experiencing extended vacations, or have emergencies that take them away from their residence.

Related questions

How long does it take to validate a thief claim renters insurance?

If a person has two or more life insurance policy, what happens in case the insurer passed away?


Where can I find the average price for renters insurance?

You can find the average price for renters insurance at www.averagecostinsurance.com. For your information according to the Insurance Information Institute, a renters insurance cost would be somewhere around $150 to $300 per year of coverage, and prices may vary depending on the amount of deductible and additional policies you would like to take.


Can a wife take out a life insurance policy on her husband?

yes you can just go to a insurance place and take out insurance policy he will have to be there also,


Do you need to change your homeowners insurance if you rent your house?

If you were living in your home when you first took out the homeowner's policy, then, yes, you do need to change it. To not notify the insurance company that you are now renting your home could render your coverage null and void, resulting in the loss of coverage should something happen to the house. There are several types of coverage, some of which offer more coverage than others. In your case, you need to change the policy since the house is now a rental. But, there are other factors involved, too. Did you rent the home furnished? If so, you need to maintain coverage that will still insure your contents of the house. If not, then you need to change the policy to cover the house only. The renters will need to take out a rental policy, which will cover their belongings in the event of a fire, or other types of damage. You also need to talk to your insurance agent about keeping liability insurance on the house, as well. And, since some renters aren't aware that the landlord's insurance won't cover their belongings, you need to inform the renters that they will have to take out a rental policy to insure their belongings (furniture, clothes, etc.) if they want them insured. Also, keep in mind that a homeowner's policy does not cover flood damage; that will have to be a separate policy.


Can you take out a life insurance policy on any individual you wish to?

no. there are laws for life insurance policy and is illegal to take it out to any individual


How long does it take to cancel your life insurance policy?

I have a whole life insurance policy, how long does it take to cancel it, also can I get money back from it.


Can you take a loan out of your insurance policy?

yes you can


Can you take out insurance on parents?

You may take out an insurance policy on your parents if you have power of attorney over them.


Can i buy a life insurance policy on anyone?

No. You have to have an insurable interest in the person's life in order to take out an insurance policy on their life.


Can i take out a term life insurance policy then quickly sell it?

No, because Term Life insurance policy has NO cash value.


What is a risk specifically excluded from a homeowners insurance policy?

If you take a look at the "Exclusions" section of your policy you will see several perils which are specifically excluded. For example, if your home is damaged by "war" then your insurance company will not provide coverage for the loss. There are several excluded perils. Take a look at your policy for more examples.


Where can one take out a long term care insurance policy?

One can take out a long term care insurance policy from several different places. Some of the places in which one can take out a long term care insurance policy from are: Long Term Insure Me, and Own Your Own Future.