Comments for Homeowners Insurance Questions

Comment on How can I find out who my landlorsds home insurance carrier is? by mbrcatz

mbrcatz — Wed, 10 Mar 2010 11:21:33 +0000

You can’t. It’s private information. They might not even HAVE insurance.

And it doesn’t matter anyway, because YOU can’t file a claim with THEIR insurance. Their insurance won’t cover your stuff, either.

You’re going to have to go ahead and sue your landlord, for whatever the damages are.

Comment on How can I find out who my landlorsds home insurance carrier is? by Jo

Jo — Wed, 10 Mar 2010 10:08:13 +0000

You do not need to know who carries your landlord’s personal home owners insurance unless you have a claim to make against your landlord concerning his personal home. The only information you could need would be about the commercial insurance that he carries on the rental property which you are renting from him. The most important concern you have is that you have adequate renters insuance to cover your needs for coverage of your personal property and your liability. His personal home owners insurance affords you no protection, it just pays in the case that you have a loss due to his personal responsibilities as a property owner, not as a business owner. Your main concern about his commercial insurance is that he has coverage on the property and if you have a loss due to his commercial issues. Mostly, you have to worry about what is yours. Neither his personal insurance or his commercial insurance will cover you for the loss of your property (in most instances). His responsibilities for his commercial business are covered by his insurance. Renters insurance will cover your needs.

Did you have a loss that related to his personal residence? If not, you do not need his personal insurance information. Did you have a loss related to his commercial business? Is it a loss that is his responsibility or is it actually yours? There are specific details of what is his responsibility and what is your responsibilty.

Comment on If you sell a house on land contract, who pays the home insurance? by Biggie @ Arbor Mortgage

Biggie @ Arbor Mortgage — Wed, 10 Mar 2010 09:46:31 +0000

You should not have to carry insurance because the person purchasing the land contract has to have insurance with your lender on their policy as mortgagee in case of loss.

Comment on If you sell a house on land contract, who pays the home insurance? by cara_joven

cara_joven — Wed, 10 Mar 2010 07:23:43 +0000

Who gets pounded if the house/dwelling gets damaged? he/she pays the insurance.

The person who is still paying the loan.

Comment on Insurance Underwriting: Anybody know of any companies that would underwrite and brand a home insurance policy? by mbrcatz17

mbrcatz17 — Tue, 09 Mar 2010 22:33:57 +0000

LOTS of companies underwrite and brand homeowners insurance policies.

You can’t start your own company, though, without permission of the insurance commissioner in every state you want to write business.

What you REALLY want to do, I think, is do “program insurance” kinda like AARP and AAA do. They have arrangements with carriers, to write business with them.

What you CAN’T do, is make any money off of referrals. See, that’s heavily regulated in each state, and if you’re not licensed to sell insurance, you can’t receive “kickbacks” or “finders fees” or “commissions” on policies.

Keep in mind, homeowners insurance is a loss leader. A PROFITABLE company pays out about $1.10 in homeowners claims, for every $1 they take in, in premium. Policies are underwritten in a very cookie cutter manner.

So, I’m not sure what you’re really looking for here, or how large a “book of business” you’re willing to offer. Or, the QUALITY of the book of business. Can you promise 100,000 owner occupied, single family homes without pitt bulls, that have been completely updated within the past 25 years, and have owners with credit scores over 650? Or are you trying to find a market for substandard business?

You need to be A LOT more specific.

Comment on Is it true I have to pay for House insurance one year in advance? by Judy

Judy — Tue, 09 Mar 2010 21:50:58 +0000

You paid the first year at closing. For the next 12 months you’ll be paying into escrow so in a year when the bill is due again, the money will be there to pay it. No, you aren’t paying twice – the amount you’ll be paying in your payments is for the NEXT year.

Comment on How can I find out who my landlorsds home insurance carrier is? by ibu guru

ibu guru — Tue, 09 Mar 2010 13:09:30 +0000

That’s personal information. If your landlord wants to tell you, that his option. But there is no other way to access this information without his permission.

If you have grounds for suit, your attorney or your insurance carrier will file against the landlord. Typically, he would turn such a thing over to his insurance carrier and let the two insurance carriers or the 2 attorneys battle it out. However, he does not have to turn it over to his insurance company!

Comment on Can you recommend a good house insurance company for Houston, Texas? by Salvatore O

Salvatore O — Tue, 09 Mar 2010 07:49:05 +0000

Home insurance is actually very flexible. I don’t understand all the fine print of my homeowners policy, but my home insurance agent is always a phone call away. Try calling your agent or a homeowners agent in your town. They will be able to help you.

Comment on Can you recommend a good house insurance company for Houston, Texas? by mbrcatz

mbrcatz — Mon, 08 Mar 2010 22:14:52 +0000

What part of Houston? There are lots of decent agents, InsuranceMan here on YA is North Houston, is West Houston . . .

Comment on Im sorting out some house insurance but have no recipts? by mbrcatz

mbrcatz — Mon, 08 Mar 2010 13:43:09 +0000

photos, or videotape. Take a camcorder, walk around the house, do close ups on serial numbers for big ticket items. Keep the data off premises.