Business. Which homeowners policy is best suited for a renter of an... Access to over 100 million course-specific study resources. 24/7 help from Expert Tutors on 140+ subjects. Full access to over 1 million Textbook Solutions.
Jun 18, 2021 · Janelle should rent the apartment and use the rent money to pay her mortgage. b.) Janelle should buy the apartment together with multiple properties through an REIT. c.) Janelle should buy the apartment to live in and also as an investment. d.) Janelle should buy a house currently under foreclosure for less than the market value.
1.The person the renter deals with is the owner of the house. 2.The person the renter deals with represents a corporation that owns ten apartment complexes in town. 3.This person is a designated legal representative who can sign legal paperwork. 4.This person takes appropriate actions for both the landlord and the renter.
30%. The homeowners policy provides coverage for all of the following, except. A motorized golf cart being driven to or from a golf facility. All of the following would be included in the definition of insured location, except: A 5- family dwelling in which the insured lives in one of the units, including the structures and grounds.
Section II of a homeowner's insurance contract covers: the cost of defending the insured. When insuring property, people need to consider not only replacing and restoring the actual property in the event of a loss, but also. the liability arising from the insured's responsibility for property loss.
The personal property floater. provides either blanket or scheduled coverage of items that are not covered adequately in a standard homeowner's policy. the liability coverage under a personal automobile policy is provided to. the non family members involved in the accident.
a personal liability umbrella policy typically includes. coverage for auto-related liability losses in excess of the limits purchased in the automobile insurance. Replacement-cost coverage is the reimbursement of: the cost of repairing or replacing damaged structures without deduction physical depreciation.
If an owner occupied home is totally destroyed without fraud by fire, the amount of the loss is based on: The policy limit. Vandalism and malicious mischief losses are excluded under the Homeowners Policy: When the property has been vacant for 60 consecutive days.
Under Section II of the Homeowners Policy, a one or two family dwelling where the insured resides in one of the units, including other structures and grounds at that location, is defined as: The residence permises.
Like a homeowners policy, landlord insurance typically helps cover the building itself (and other structures on the property, such as sheds or fences) if there's damage from a fire, lighting, wind, hail or another covered loss. To purchase homeowners insurance, you must live in the home.
Landlord insurance and homeowners insurance do not cover your tenants' personal belongings.
What kind of insurance do you need to help protect your place when renters live there? You most likely need a landlord policy. But if you plan to have tenants only occasionally, homeowners insurance may be a better fit. Here are some factors to consider when determining what kind of insurance is appropriate for your situation.
Like a homeowners policy, landlord insurance typically helps cover the building itself (and other structures on the property, such as sheds or fences) if there's damage from a fire, lighting, wind, hail or another covered loss. To purchase homeowners insurance, you must live in the home.
Landlord insurance and homeowners insurance do not cover your tenants' personal belongings. That's why you may want to make renters insurance a condition of your lease. Renters insurance may help protect your tenants' possessions, and also provide them with some liability protection.
When it comes to protecting your home, quality coverage makes all the difference. Allstate home insurance can help take care of what matters to you.
To purchase homeowners insurance, you must live in the home. Homeowners insurance may offer coverage if you're living in your single-family home and renting out a room to tenants, depending on the number of people renting or the length of their stay in your home. Coverage varies by insurer or policy, so check with your agent before you rent out ...