darcy asked:


About 1 yr ago I cancelled my DD for my home insurance to cut costs. My bank then said as I never told them directly they have refused my insurance policy and that I would find it difficult to get another policy. I am now looking to start another home insurance policy but they all ask the question if I have been refused before? What does this mean? As it is obviously important to have it as you never know what will happen.

WELDER asked:


isn’t mortgage insurance for if you die, the loan will be paid off? if so wouldn’t life insurance do the same, so why is mortgage insurance needed. Must you have it or is it just a option?

Ted (Canton,OH) asked:


I was wondering if house insurance for a duplex costs more than for single family homes.

Whether you have ever experienced the unfortunate incidence of having your basement flood or not, there are definitely some facts about homeowners insurance that you need to know about. Most homeowners insurance policies do not cover you for your basement flooding. Most homeowner’s policies do not come with any type of basement flooding insurance, unless it was caused from a busted or burst water line. There normally is a separate rider that is available for most consumers that you can have added to your homeowners insurance that will cover some basement flooding and this normally ranges anywhere from 150-200 extra per year for this coverage (money well spent if you ever have the unfortunate luck to have to experience a flooded basement). However, even with this extra coverage it usually only covers flooding that is due to a sewer backup. If your flooding is the result of cracks in your foundation, water coming in through your windows, or coming in through your walls, then chances are that it will not be covered. Most insurance policies nationwide work this way. There is flood insurance that some homeowners are required to obtain if their home is deemed to be in a flood zone as considered by FEMA. This insurance is extremely expensive and usually covers more than traditional homeowners insurance and more than the homeowners insurance rider that you can add to your policy for flooding.

If you ever have to experience a flooded basement here are some quick tips for insurance purposes. Act quickly, get your camera and take pictures in case you need them for a homeowner’s insurance claim. Take pictures of everything that is damaged, and the level of the water. This way you will have proof of everything that took place. You can even consider videotaping the damage and the flooded basement as well to insure that you have adequate documentation in case anything comes into question with your claim. At this point contact your homeowners insurance agent and tell them about what is going on and what has happened. They will be able to direct you to the appropriate number to begin your claim or get everything started themselves.

Quick Basement Tips:

* Have a working sump pump in your basement

* Have a battery operated backup, in case of failure or power loss

* Make sure your yard drains away from your home

* Have your basement walls waterproofed

* Add rocks and drain leading away from the house in the base of any window wells you have around basement windows

* Check your basement periodically during heavy rains, big storms, or extended periods of rain

* Check your basement walls at least once every year to look over the structure to insure everything looks good and there are no cracks in the walls

* If possible have a sump pump with a separate drain outside of your home

* Look into your current homeowner’s insurance policy to see what is covered, what is not and what your options are for extra coverage


Remember if your basement has flooded, then chances are that others in your area are going through the same thing. The sooner you act, the better, and the quicker that your claim can be processed and taken care of. If you do not have the extra rider added on to your homeowners insurance policy for flooding and you have a finished basement you may want to seriously consider the policy rider. It may be well worth it. Contact your insurance agent soon to discuss exactly what is covered and what is not covered in terms of basement flooding and be proactive in this situation just in case you ever have to go through this. Trust me it is not fun, especially when you discover it is not covered.

By: David Zwierecki

About the Author:

Annual homeowners insurance premiums in Michigan have been on the rise this decade because of increased flood claims and higher rebuilding costs. Homeowners have seen their premiums rise 85%. This trend makes it more vital than ever that you take time to shop around for homeowners insurance and make sure you’re paying the lowest possible price.

Keep Your Insurance Costs Down

To keep your homeowner insurance costs as low as possible, follow these tips:

* Set your coverage limits high enough to protect you, but not higher than your home and belongings are worth. To get accurate numbers, take an inventory of your belongings and call a realtor or builder to get an estimate of how much it would cost to rebuild your home.

* Set your deductible as high as you can afford. The deductible is the amount you pay on a claim before the insurance starts to pay. If you can afford $500 or even $1,000 out of pocket, set your deductible at that level and you’ll save 15% to 25% on your yearly premium.

* Get all the discounts you can. Michigan homeowners insurance companies typically offer discounts for non-smokers, for having multiple policies with the same company, for installing security features, and a host of other discounts. Ask if they offer any other discounts you might qualify for and include them in your policy.

Shop Around for Insurance

Did you know that over 100 insurance companies offer homeowners insurance in Michigan? These insurance companies compete with each other to provide the lowest rates and the best service. Their rates can vary dramatically from one company to the next, which means you can save hundreds of dollars a year just by comparison shopping.

The best way to comparison shop for Michigan home insurance is to visit an insurance comparison website. At an insurance comparison website you fill out a form with information about yourself, the home you’re insuring, and your insurance needs (such as your limits and deductibles). You then receive quotes from multiple A-rated insurance companies, allowing you to easily compare the quotes and choose the company with the lowest rate.

The best insurance comparison websites even have a chat feature, so if you have any questions about homeowners insurance, you can get accurate, timely answers from trained insurance professionals.

By: Brian Stevens

About the Author:

eHow asked:

Buy homeowners insurance by determining how long to have coverage for, what type of coverage is best and what premium amount will work best with your budget. Contact a variety of insurance companies and mortgage brokers withtips from an insurance agent in this free video on insurance. Expert: Vic Schumacher Contact: www.HPEFinancialServices.com Bio: Vic Schumacher is part of HPE Financial Services, a brokerage insurance company representing all major carriers. Filmmaker: Christopher Rokosz…

If you do wish to have the most affordable rates, you’d have to do your utmost to do extensive shopping. Extensive shopping can be done in each of the following ways…

1. A very good option is asking folks you are sure you can trust — People who are already your friends and acquaintances. What was the value they got from the insurer they used previously and what quality of service do they get from their present insurers? It fine to use their agent and insurer if they rave about them.

Notwithstanding the fact that it is wise to opt for an insurer or agent that is well-spoken of by your friend, it also pays to have a chat with more than one highly recommended agent. This will increase your likelihood of landing an agent who will offer the best service and quotes. The fact is that you’d shop better if you shortlist and compare about three agents. Obtain and compare quotes from as many recommended agents as possible. Have some talks with each of them and find out who you prefer. This will take you quite some time.

2. You can easily find agents by using the Yellow Pages. If you’re the type of person who has a preference for using the phone, you can look for agents in the Yellow Pages, call them and request quotes from them. This alternative is very tasking and demands much caution on your part as you can’t easily guarantee an agent’s quality of service beforehand.

3. A good number of insurance shoppers do not make good use of their state’s insurance department. They usually have guides that will make it easier for you to get what’s best for you at the best price. Having access to information you can trust will help you make smart choices in your circumstance.

4. You can make your shopping much more rewarding by studying consumer guides. They are a great for getting an idea of what you should pay for your home insurance policy. This is apart from the fact that you’ll get a few tips that will guarantee you get adequate coverage at the best rates. Although they tell you insurers who have the best rates, their figures are generally estimates or for a particular profile. Therefore, you’ll do well to still ask for quotes from more than just one agent or insurer. This step will ensure you get the lowest rates as you’d be given quotes for your specific needs.

5. If you have an agent for another policy, whose service you are pleased with, tell them that you’re shopping for home insurance. What should be avoided is getting just a quote. Request quotes from at least five different agents, compare their rates with the quality of service they will give and you’ll get the best rate.

6. For people who have direct access to home owners insurance companies in Michigan, you can contact them directly for quotes. Note, I recommend that you get quotes from different insurers. Weigh their quotes for the value you get and you’ll be on track to getting the the best price to value ratio there is for your profile.

You’ll save a lot if you do shop around and do thorough comparison. The range of quotes received per request could be as wide as $1,000 for a given person. Notwithstanding that this is a good thing, it’s crucial that you don’t get too excited yet.

It’s not normally that straightforward if you’re after the best price to value ratio. The cheapest price may not give you the best price/value. Notwithstanding that each of the quotes presented will certainly give you the same basic coverage; there may be a number of differences in the details of each insurer’s coverage. This makes it important that you find out if there aren’t exclusions you won’t like. Don’t forget to treat these no-obligation quotes as their name implies. Don’t feel obliged to pay unless you’ve got all your questions answered satisfactorily. You will be spared rude shocks later if you do this.

By: Chimezirim Chinecherem Odimba

About the Author:

analisha2201 asked:


My son is legally blind and deaf. He receives SSI. He is allowed to own a residence but cannot receive a lump sum when i die, or his SSI will be taken away from him. I want an insurance policy that will pay off the mortgage when I die. Any suggestions? Thanks for your help:)

mud_angel1 asked:


We purchased a home and had allstate insurance, we recently had a fire and now we are being told that we had the wrong policy and we are in a long drawn out process. We dont know if the policy will be covered or not yet. Allstate is dragging there feet. Even though it is the agents responsibility to take pics and view the home she did not. they told us that the agents are not actual employees of allstate. can anyone give us advice on what to do?
We have a single wide trailer with a living room extension and a sunroom extension. The agent was told all the details of the home. She never took pics of the home and never had us sign the policy, however we have been paying them for 5 months now. They have had plenty of time to not insure the house if they wanted.
Arson was never a question, it was an electrical fire, my family was in the home the time of the fire.

THE Voice of REASON! asked:


i tripped over a sandbag on my drive and broke my arm. consiquently i can’t work as i am a waitress.is it possible to claim loss of earnings for the three months while it heals and as i had just left my house to go to work when the accident occured , would it be viable to make a claim on my employers insurance as i should be covered from the moment i step out my door.
can anybody help with any legal information?