How can yo find out if a relative's house have homeowner's insurance on it?
My Mother-in-Law (88 years old) lived by herself with care givers coming surrounded by taking care of her from when she woke up until she went to bed. She have a stroke last week, is still alive but not expected to fully recover (nursing home the subsequent step). My wife and I are reviewing her finances and checkbook and don't see any payments for house insurance. We are concerned she may have let it lapse. How can we do a explore to determine if she has a policy? If she doesn't I want to get an insurance policy ASAP as the house is remunerated for and will fund her stay in a nursing home.
Answers:
You have to ask the relative. There's no database, no state agency collects that information, it's not record anywhere except at the particular insurance company that has the policy, and it's private information.
If she hasn't made any payments surrounded by the last year for house insurance, she doesn't HAVE any house insurance. Period.
If you're looking for insurance for a house for her, well, you're NOT going to know how to get a homeowners policy in it - she owns the house, but she's not LIVING surrounded by it. At best, if you get a renter, it will be a dwelling policy; at worse, a vacant property policy. AND, you can't buy it for her, unless you own power of attorney for her.
Vacant property coverage is EXPENSIVE. If that house is funding a nursing home, you're probably best off just selling it in a minute, if you have that power of attorney.
my state requires homeowners insurance.. you have to check to see if your state also require it.. if so you don't have to check..because if in that is no insurance on the house there is most likely a lien against it.. otherwise if insurance is not a requirement for your state you hold to ask someone who may know your mother in laws personal finances..sorry.. :(
Since she will not be living in the home you requirement a Rental Dwelling policy. That is even if no one is living there or paying rent, it is still a Rental Dwelling policy.
And, since the home is salaried off there is a fitting chance there is no insurance on it. I would suggest you only just go ahead and get insurance. If her home will be funding her nursing home next does that mean you will rent it out for income? Or are you putting a reverse mortgage? A mortgage company will require that you list them on the insurance and they will want proof of insurance since approving the loan.
Laws vary by State. Call your insurance agent for help. And, better find that power of attorney ASAP. Source(s): http://www.insurance.ca.gov
Home insurance covers lots of different things. I don't understand all the fine print of my home policy, but my homeowners insurance agent is other helpful. Try visting your agent or a homeowners agent in your nouns. http://www.goodinternetdeals.com/Home-Insurance.html They will be able to assist you.
There is no opening to search other than what you are doing - look through her personal paperwork.
You should probably consult a lawyer at this point - if she is no longer fully competent, you cannot have her execute a power of attorney. You or your spouse would enjoy to pursue a conservatorship.
If the house is paid for she may not enjoy any. If she has a mortgage it may be paid through the escrow. If she have any kind of home equity, reverse mortgage or anything like that check next to the lender because they usually ask to be named on the policy. If she has saloon insurance check with who she insures the car next to. You need to get a power of attorney to shift any farther than this. If you duplicate coverage you can cancel as long as you can show the coverage was duplicate. Lastly I would check near your state's insurance department to see if they have any program in place to assist society in your situation.
Homeowner's insurance covers the house should it be destroyed by covered damages or someone gets hurt on her property. It have noting to do with funding your mother's safekeeping in a nursing home.
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Answers:
You have to ask the relative. There's no database, no state agency collects that information, it's not record anywhere except at the particular insurance company that has the policy, and it's private information.
If she hasn't made any payments surrounded by the last year for house insurance, she doesn't HAVE any house insurance. Period.
If you're looking for insurance for a house for her, well, you're NOT going to know how to get a homeowners policy in it - she owns the house, but she's not LIVING surrounded by it. At best, if you get a renter, it will be a dwelling policy; at worse, a vacant property policy. AND, you can't buy it for her, unless you own power of attorney for her.
Vacant property coverage is EXPENSIVE. If that house is funding a nursing home, you're probably best off just selling it in a minute, if you have that power of attorney.
my state requires homeowners insurance.. you have to check to see if your state also require it.. if so you don't have to check..because if in that is no insurance on the house there is most likely a lien against it.. otherwise if insurance is not a requirement for your state you hold to ask someone who may know your mother in laws personal finances..sorry.. :(
Since she will not be living in the home you requirement a Rental Dwelling policy. That is even if no one is living there or paying rent, it is still a Rental Dwelling policy.
And, since the home is salaried off there is a fitting chance there is no insurance on it. I would suggest you only just go ahead and get insurance. If her home will be funding her nursing home next does that mean you will rent it out for income? Or are you putting a reverse mortgage? A mortgage company will require that you list them on the insurance and they will want proof of insurance since approving the loan.
Laws vary by State. Call your insurance agent for help. And, better find that power of attorney ASAP. Source(s): http://www.insurance.ca.gov
Home insurance covers lots of different things. I don't understand all the fine print of my home policy, but my homeowners insurance agent is other helpful. Try visting your agent or a homeowners agent in your nouns. http://www.goodinternetdeals.com/Home-Insurance.html They will be able to assist you.
There is no opening to search other than what you are doing - look through her personal paperwork.
You should probably consult a lawyer at this point - if she is no longer fully competent, you cannot have her execute a power of attorney. You or your spouse would enjoy to pursue a conservatorship.
If the house is paid for she may not enjoy any. If she has a mortgage it may be paid through the escrow. If she have any kind of home equity, reverse mortgage or anything like that check next to the lender because they usually ask to be named on the policy. If she has saloon insurance check with who she insures the car next to. You need to get a power of attorney to shift any farther than this. If you duplicate coverage you can cancel as long as you can show the coverage was duplicate. Lastly I would check near your state's insurance department to see if they have any program in place to assist society in your situation.
Homeowner's insurance covers the house should it be destroyed by covered damages or someone gets hurt on her property. It have noting to do with funding your mother's safekeeping in a nursing home.
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