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Is there any hope whatsoever? they are killing for space, very pregnant momma die any time

Any one who owns a home, and that includes the majority of us who are making monthly payments to a home and mortgage company, must have insurance coverage on their home. If the home is not paid for yet the mortgage company will insist there is at least hazard insurance cover. The cost of the insurance policy is generally included in the monthly mortgage payments. It is considered part of the PITI that constitutes the total payment we must make each month. The initials PITI represent the Principal, Interest, Taxes, and Insurance.

Taxes and insurance come from escrow accounts

Typically the home buyer takes out a "secured loan" when purchasing a home. This means they have the real estate and home as collateral and if the mortgage payments are not met, they can lose the house to the mortgage company. The term mortgage means a mortgage loan which is considered a "secured loan". Along with the principal payments which must be made on the balance of the home each month, there are also taxes and insurance which must be paid, usually yearly. Taxes are generally paid to the county in which the home lies, while insurance payments must go to an insurance company which provides various types and amounts of coverage.

Home and mortgage insurance cover is usually based on how much the home is worth and that amount will usually increase year to year. The mortgage company makes once a year payments to cover both the taxes and the insurance premium and then will add this amount on to the mortgage payments to be made by the homeowner each month. This amount is deducted from an escrow account which is an estimate of taxes and insurance cost for that year. Mortgage companies then determine how much is to be added on to the PI or principal and interest payments to cover the amount owed for the TI or taxes and insurance, prorated over the length of one year. In other words, one twelfth of the total cost of the insurance premium and one twelfth of the taxes will be added on to the monthly payment. This way the home owner does not need to pay the entire tax bill or insurance premium at one time.

Types of insurance coverage vary

Basic home and mortgage insurance cover, generally called hazard insurance, is designed to protect the home buyer from loss if damage occurs to the home. The type and amount of coverage depends on the location of the home, the value of the home, and many other factors. The structure itself as well as personal property inside the home and garage will be evaluated and their worth may increase year by year. Loss of use of the home, which may include added living expenses while repairs are made to the home, is usually included in the basic policy. Fire, flood, earth quake, hurricane, and other disasters may be part of the policy and sometimes involve extra coverage.

Liability coverage should be included in home and mortgage [] insurance and will provide coverage in case of accidents at the home and in some policies, cover the home owner when away from their home.


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#A5235876 My name is MAMA_ESME and I'm an approximately 4 year old female Staffordshire. I am not yet spayed. I have been at the Carson Animal Care Center since 11/10. I will be available on 11/14. You can visit me at my temporary home at C124.

🔹 Staffordshire
🔹 AGE:4 years
🔹 Female
🔹 ARRIVED:11/10
🔹 Carson Shelter - 310-523-9566
🔹 M-TH 12pm-7pm, F-SU- 10am-5pm
🔹 216 W Victoria St. Gardena, CA 90248

We are NOT the City Shelter to where pictures were taken. FOR MORE INFO ON THIS PET please contact:
Carson Shelter at 310-523-9566
216 W Victoria St. Gardena, CA 90248
Ask for information about animal #A5235876

STATUS : - read comment for update from crossposter
You definitely want to protect your belongings, especially your home you still pay the mortgage for. The thought of a fire or a natural disaster and what it might do to your house is reason enough to insure your home.

Home insurance is mandatory for those who pay mortgages. Lenders are the people who turn these home insurance policies into obligations for homeowners.

The lack of insurance practically means when disasters and bad luck strike, you are the one who has to pay the price. So you can easily understand why having insurance is such an asset.

While a home insurance doesn't cover every possible disaster that might occur, it still protects you from a lot of unwanted happenings. Earthquakes or floods are not usually subject of a single insurance policy, so it is vital to carefully read all the terms of a home insurance.

You can get to the point where your home becomes impossible to live in because it has been highly damaged. If you were smart enough to get homeowner's insurance, you can recover all the expenses from your reimbursement for basic living.

Given the case you need to rebuild a part of your house or all of it, or you need to make some major repairs to it, your homeowner's insurance policy will cover the expenses. Also, should you be visited by thieves, you can get a certain percentage of your belongings' value back, unless you opt for a separate rider for more expensive items.

There is a way of protecting yourself from any lawsuits if someone got injured while on your property or in your home. Liability insurances cover these expenses.

All in all, you can see the tremendous importance homeowner's insurance has for your home. Look for the best quotes and be on the lookout for all discounts that could lower your costs.

Andrew Chatham has been contributing articles about insurance for the past seven years. Moreover, he loves providing knowledge on NYC real estate, like Sunnyside apartments and Flushing apartments.