Is it possible to buy insurance JUST for fire & nothing else for a home?
Answers: It is possible, but not advisable. Most insurance brokers offer non-standard, or surplus lines coverage for basic fire insurance.
Unfortuantely, if you strip it down to JUST fire, and end up having a windstorm which knocks a tree into your house, you are out of luck. Or if an uninsured driver makes your living room into a drive-thru. Or if your toilet overflows while you are on vacation, and floods the place, distroying the floors and walls.
Fire insurance pays for just fire. Not the cost to find another place to live until your house is rebuilt. It does not provide replacement of your possessions.
So, what I would suggest, is a Broad form coverage. That provides for fire, theft, wind, vehicles, etc., but instead of REPLACEMENT cost, it gives you actual cash value. So if your house is 25 years old, it takes what the value of it at the time of the fire minus depreciation, and that's what you will be receiving as a settlement. It is NOT the best coverage, but it is a far cry from fire only. You never know when that wild windstorm or falling tree branch will render your home red-tagged.
Another problem of buying just fire insurance is lack of personal liability insurance. What happens if your kid gets in a fight with someone on the school grounds and breaks his nose, glasses, etc? Your homeowner insurance would pay that kid's medical bills. Or if your dog bites the mailman? Your liability would cover that, too.
no. you would need buildings and contents cover to get fire insurance that pays out for all of your stuff for a fire.
It is a strange question that leads me to think there may be a reason you ONLY want fire...
i agree with the first answer
its strange why you want that
are you planning something..?
You MAY be able to convince an insurer to do a specialist policy for you, but to be honest its such a dubious request I doubt there would be much of a premium saving for you anyway. Insurance broker would probably be the best avenue to finding a suitable policy...
NB: this woud only apply if the property was unmortgaged, otherwise you will be breaking the terms of your mortgage by not having full buildings insurance.
You can, but I certainly would not recommend it. You note that you could cover all other losses except a total loss to your home and contents. What happens if somebody sustains a serious injury on your property and you were negligent? Can you afford to compensate the injured party? You could be devasted for life should this happen. I really think you should reconsider.
If im buying blue cross blue shield insurance from my husbands work can they deny my application?
Answers: I assume you are referring to being added to his group policy as his spouse. Generally if you have had a "change in family status", such as losing your own coverage, they will add you (with proof of that loss), but there is a time issue on most policies. Usually 30 or 31 days from the date of the change. If you don't request it within that time period, you will have to wait until open enrollment, which is usually an annual process.
If you mean, you're being added to his group policy, no they cannot deny you to be covered. BUT, if you've had a lapse in coverage over 63 days, they CAN deny coverage for pre-existing conditions, for usually 18 months.
About kotak retirment income plan policy?
i invested in kotak retirement income plan in need cover policy of rs 525000. in demo 2007. i paid first installment of 50000in a minute i have to rate next installment within march 2008. i would resembling to know shuld i pay subsequent intallment or not, i will get some benifit after 2-3 years if i verbs it, please guide me what to do and where to invest money
Answers: You enjoy choosen a ULIP which has soaring initial year charges. As I see it has too much policy admin charge.
I will proposal to continue for 3 years surrounded by it.
You need to verbs paying premium atleast for 3 yrs, else you will lose the 50000 that u have compensated as 1st yr premium.
remember that all agents dont bring up to date u the entire cost structure
Please refer to the policy document for details. Any how atleast 3 years you have to pay cheque to get 100% of the fund effectiveness of the units allotted to you otherwise the company my subtract 40% to 60% of the fund value. Before taking any policy or investment judgment, you must enquire every detail something like it and after satisfaction merely you must take it.
To safeguard the interests of the policy holders, IRDA have chalked out a form containing the units allotted and the charges deduct to get confirmation from the policy holder.
upright luck
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