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Tommy Said:

How do u get insurance on a 2nd home/ vac property?

We Answered:

Why don't you get a standard policy now. If you do decide to rent it out in the future, you can revisit the issue with your agent then. Check out this site, if you want to find the cheapest home insurance just in one minute,

http://best-cheap-home-insurance-usa.blogspot.com/

Here you can get free quotes from different home insurance companies in your area, its the best way to find an afforable home insurance with a reliable company.

Best Wishes,

Nicole Said:

How the home insurance for secondary home different from primary home insurance?

We Answered:

Why not just go to an online site that will give you bids from multiple agencies. It's quick and you're not at any risk, and it will give you a ballpark figure to work with and decide what is right for you.

http://insurance.deal4-you.com

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Harvey Said:

How do you get paid when selling home insurance?

We Answered:

Homeowners isn't written on a 30 year term, just year by year - but hopefully, your clients will just keep renewing them.

You're paid based on the premium of the homeowners policy, not the coverage amount. Premiums for a $100,000 policy vary wildly throughout the country, by location, and you could be looking at a $300 policy, or a $3,000 policy. Standard homeowners commisisons are around 17% or 20% of the premium. So if the policy is $500, your cut is $100. A year. For every year they renew.

Lillie Said:

Will an insurance company insure our home if there is a unpermitted cottage?

We Answered:

I think you should go to the local building department (city or county) and apply for as built permits for these unpermitted structures. Although costly, it's better than Code Enforcement coming by, realizing that those additions/properties are unpermitted and going to court, seeking an injunction to have you (1) obtain as-built permits or (2) having them torn down.

It is more expensive to have Code Enforcement come in and seek relief from the courts (assuming you don't comply and apply for as built permits) because you may have to pay their attorneys' fees when they win.

I believe you apply for as built permits from the Building Department in the city. Make sure you're in the incorporated portion of the city, otherwise you'll have to go to the County Building Department.

Also, if the bank didn't know that these additions were unpermitted, you wouldn't have an recourse. Most foreclosures are sold as is and requires buyer's diligence. A title insurance policy may or may not disclose unpermitted additions (depends on the wording of the policy). As I recall, a title insurance policy only guarantees that you have marketable title to the property.

Norma Said:

Can I ever get home insurance again if a previous one has been cancelled?

We Answered:

Shouldn't be a problem; if your claims history is clean and credit decent, you should be able to find a company that will start a policy for you. You haven't really been refused, you were cancelled for non-payment.

Don't know what the deal is with your bank, you'd think they'd be happy to add an insurer and happier still to escrow the payment.

Karen Said:

Is an appraisal on new home required to obtain home insurance?

We Answered:

An appraisal is used for loan purposes. It is not an insurance appraisal. That isn't necessarily true. The insurance company will already have that kind of information in their databases. No insurance won't be difficult to get.