Comments on: Landlord House Insurance

By: fresstransport

fresstransport — Mon, 17 Aug 2009 21:40:00 +0000

Without renters insurance, its a total lost, unless your state, county, or city has some program to assist fire victims like you. Call the nearest Red Cross, explain your situation, then ask if they know of any programs offered by any government agency to assist people like you in your situation. I know they've helped people displaced from building apartment units that had burned down.

By: LetsCook2gether

LetsCook2gether — Mon, 17 Aug 2009 21:08:24 +0000

I have another question

Selling for example an ebook (PDF)
Is this also a form of Riba?
Because its like a cashcow if you know what I mean. (digital products) You can make it ones and can milk it for a long time.

By: IQ233

IQ233 — Mon, 17 Aug 2009 18:47:27 +0000

~~~~~~~~Everyone should watch “The Prohibition of Riba” series on youtube~~~~~~~

By: HUSBAND & WIFE

HUSBAND & WIFE — Mon, 17 Aug 2009 18:43:14 +0000

Let me take a different angle on this one. The one thing nobody else has mentioned is the word negligence. That is what is important here. You have to be negligent for either you or any insurance company to legally owe the landlord a dime. You are NOT automatically negligent for not having insurance or just because you owned the car that started on fire.

Even if you had car insurance odds are they would deny any claim that the landlord made because you to be negligent in order to legally owe. I have denied similar claims like this over the years. If you had no forewarning of potential fire hazards with the car then you probably wouldn't be found negligent.

Keep in mind that whether you have insurance or not the landlord has the legal duty to prove you are negligent. He would have to show that you did something to cause the fire or that you knew of the fire hazard and DIDN'T do anything about. If he sued you he would probably have a tough time doing that. My suggestion is to politely decline to pay and see what he does.

Good Luck

By: gb298888

gb298888 — Mon, 17 Aug 2009 18:26:11 +0000

It's mandatory for a landlord to have insurance he wouldn't have been able to purchase the place without it. Rentals especially!

By: Freezing babies

Freezing babies — Mon, 17 Aug 2009 16:03:25 +0000

Renters have rights too. If the house is not livable, then they don't have to pay rent. Once the landlord tries to evict them for not paying rent, they can take him to court. They can take him to court now actually, especially if the rental contract says that he will provide heat.

By: ek

ek — Mon, 17 Aug 2009 15:45:56 +0000

The higher the deductible, the lower the monthly premium. The lower the deductible, the higher the premium.

In your lease, you should notify the tenant that the tenant is responsible for getting renters' or tenant's insurance for the tenant's own personal possessions and additional coverage or riders for more valuable assets such as jewelry, art work, stamp collections, etc.

Doing this protects you =- just in case there is a catastrophe in the property resulting in loss or damage to the tenant's possessions.

Thanks for asking your Q! I enjoyed answering it!

VTY,
Ron Berue
Yes, that is my real last name!

By: alphamain

alphamain — Mon, 17 Aug 2009 15:23:02 +0000

Sorry if I offend you dear prana888. May God Almighty bless your life. Peace.

By: Arabella

Arabella — Mon, 17 Aug 2009 12:31:01 +0000

Either pull it from the market and just rent it out (smart in this economy as it probably won't sell anyways) or keep it vacant and keep flushing $$ down the toilet every month. You really should consider pulling it from the market & waiting until the values recover somewhat before selling it – just don't lock yourself into a too-low of a price with your neighbor in case she can't come up with the cash before the values skyrocket. Give her a window of time to buy it – say 6 mos or a year – and leave room for a price negotiation should the values go above a certain price point.
EDIT: You can pull it from the market anytime you want – the contract just means you can't re-list it with another agent before the current contract is up. )

By: Jerry P

Jerry P — Mon, 17 Aug 2009 12:20:03 +0000

You can insure this rental house as your 2nd. home. Try Nationwide Insurance.