Jo asked:


Which of the following statements is TRUE with respect to property insurance?

A)A benefit paid by an insurer to an insured is called a premium.

B)A benefit may be paid under a property insurance policy even if the insured is entitled to sue a third party for causing the loss or damage in question.

C)Property insurance is called first party coverage only if the insurer sold the policy to a human being, rather than a corporation.

D)Property insurance is available for real property, but not personal property.

E)Property insurance is called third party coverage if one person buys insurance with respect to property that is owned by another person.

love_people_please asked:


I have no idea what I should be looking for and what a home insurance covers. Do I need separate insurance for personal property and flood and a earthquake…?

dolphinite_bottom asked:


During the process of repairing our home, after a fire, some of our personal property was damaged by various sub contractors and the fire department.

We have replacement value property insurance.

Who is legaly responsible to cover those damages? My insurance company or the company/person/dept. that caused the damage? What if I don’t know? What if they won’t pay?

Thank you,
Dolphinite

Dan93 asked:


How can I negotiate a better price on my home owners Insurance?

They rasied my premium about $70, and I lost one months coverage because the agent listed the policy a month early, so now now the premium is now due earlier also. And I haven’t even paid the premium until a month later.

Anyways I keep getting the run around, they can lower it but they need $1000 deductible. I do not want the Auto tied into this, its under a different name. This raised the dwelling and personal property which is 70% of the value. I’m sure the real value went down this year.

sugarkookie20 asked:


I’ve consulted my insurance company about insuring my personal property and said I need a renters insurance, but I own my home. I am confused. Isn’t it what I need is a homeowners insurance? or renters insurance applies with owning a home too?