Does anybody know an insurance company that accepts High Value Vehicles & Homes??

Q) I work for an insurance agency, and am having a heck of a time trying to find an insurance company that writes for Nevada that will write High Value Vehicles $150k-$500k along w/a HV Home valued @ $1.75 mil... any suggestions?? Thank you!!

A) No doubt the easiest way to get insurance quotes is on the web. Why would you waste your time on the phone calling around? the last time i needed quotes on insurance i used one of these comparison sites and it was great. this is the site i used and it was quick like less than 5 mins. The last thing I want to do is listen to elevator music while waiting for a salesman. Anyway I got good quotes and ended up saving money so I was happy. So shop around and compare quotes which is easy on the net. Good starting point is at this site. http://insurance.deal4-you.com Good luck.

Is it a good thing that replacement value of a home (in terms of insurance) is higher than purchase price?

Q) We are buying our first home and I just found out that the replacement value that our homeowners insurance will cover is $42,000 more than what we are buying the house for.... is this a good thing?

A) Yes!! The replacement value coverage is what you would need monteraily wise to build a home from the ground up, in the event from a fire, you would need your mortgage paid off, also what about you personal property there should be an amount for that, liability coverage and also guest medical or it is an incomplete policy. Liabilty is what you would have if someone got hurt on your property and also guest medical is a onetime payment for a guest on the property that gets hurt and requires medical attention. Ask your insurance agent if you are unsure the cost sounds right depending on where you are located in the country and what percent financing you did for the home. Premiums depending on your credit score and your location are about 1 percent of the purchase price of the home or less.

home insurance?

Q) i live in southern california and my home value is 600,000. I pay 2,200 for insurance every 6 months. i think this is a little too high but would like to know if this is average. When i bought the house i was too excited that i didnt even talked to my insurance agent, who is located in Fresno, Ca. I do live near a school could that also be the reason why my home insurance is so high? Could the location make any different? Can i also change insurance or will there be a penalty? I have no clue? My insurance is through Farmer. thanks in advance!!!!!

A) You may have the HO-5 policy which is a good policy if you live in an area where the temperature drops way below freezing. It covers things like frozen pipes and damage from weight of snow or ice. The basic policy, HO-1, is for people who live in warmer climates. It's the best value in a policy if minimum premiums are your goal. So get out your homeowner's policy so that you can check coverages and make any possible changes. Also, see what your deductible is. You can save money by raising your deductible to $500 or $1000. But be sure you check with your morgage company for the minimum required coverages. Check to see if you have replacement value coverage, not market value coverage. Replacement value coverage will pay whatever it cost to replace your home. Make sure your fire insurance is also replacement value coverage. You can also ask for an appreciation clause in your policy that will automatically raise your coverage limits each year for inflation. And, check your policy for gimmick insurance that may be attached to your policy. Examples are: Credit Life Insurance Credit Disability Insurance Morgage Life Insurance Automobile Service Contracts Extended Waranties on Appliances and Electronics Chargegard And finally, check all options to your homeowners's policy. None of these are a good value. 1)Removal of debris 2)Damaged-property removal 3)Fire department surcharges 4)Temporary repairs to prevent further damage to property 5)Trees, shrubs, and plants - since windstorms are excluded, this insurance is of little value 6)Stolen credit cards

Appraisal value of a home and the rebuild value given by your home insurance, should they be close in value?

Q) Are they generally close? Or is one generally much higher than the other?

A) ------- Market Value or Sales Price had little to do with rebuild "value" or "cost"------------ Sales or Market Value is generally based on a "Sales Comparison Appraisal" --- meaning a real estate appraisal, generally used to establish a sales price or a loan value. This is generally determined by the sales price of similair properties ( 3-4 comparisons) SOLD within the last 3-6 months within an a 1 - 3 mile vicinity. In other words-- " similar properties sold for $$$ within the last 3- 6 months in the area". REPLACEMENT COST--- on the other hand is a hard fact---based on the cost of materials and labor for the area- e.g.--- a building may cost $ 500 K. materials and labor---- to rebuild or replace------ but because of location -- area -- desirability-- etc etc- it may SELL for $750K--- and of course for the same reasons or lack of---- it may SELL for only $300 K but it would still cost $500 to build. Other factors to take into consideration--- e.g-- when a developer builds a tract of homes with a volume of construction: there is less cost in materials, labor force, equipment and "accessibility". (generally open land to allow access to multiple units at the same time--) for construction. To replace or re-build the same structure on an individual basis would be much more expensive. Thats a little more info-----

Home Owners Insurance?

Q) My wife and I are planning on buying our first home and are currently shopping for mortgages. As a first time home buyer I am a little bit confused about a few things and I thought I just ask here :) One of the mortgages we looked at (online, from our CU) listed a "Hazard Insurance Monthly" in the "Prepaids & Reserves" section (which is part of the closing cost). - I am aware of the need of Homeowners Insurance, but does that include or exclude Hazard Insurance? - The monthly rate for Hazard Insurance was listed as $1,900. That seemed extremely high to me, so my question is: What is an average amount for Hazard Insurance (or Homeowners Insurance in general)? FYI: The home we are looking at is located in the SF Bay Area and will have a value of approx. $700,000. Any comment will be appreciated...

A) Hazard insurance is indeed your homeowners insurance. At closing you pay for the first year of coverage and a 2-3 month cushion (that way the lender isn't sitting there waiting for your 12th payment to come in before they can send out the renewal). The yearly premium (if you have an account for collection of taxes and insurance, is divided by 12 and added to your monthly payment. The loan officer who supplied you with the Good Faith Estimate simply estimated the amount of the annual premium. The amount of the insurance will vary from area to area and will also depend on the types of things covered (i.e. earthquake and flood coverage). As the borrower you have the right to choose your own insurer. This is an excellent time to shop for insurance. Get several quotes for the same level of coverage so that you can make certain you are comparing apples to apples. Most companies will give you a discount if they are insuring your vehicles and home both. When you have decided on your company and agent, make certain your loan officer has the agent;'s name and telephone number and they will make certain that the necessary documentation is in place for closing for you. Enjoy your new home! If I can answer any other questions for you, feel free to email me.

Can someone please help me cross check my answers?

A) What is the question?

Why do they build matchstick homes in USA?

Q) The foundation in most homes is only 4 inches thick. This causes the foundation to crack in 8 to 10 years as the ground shifts. The house is built with cheap wood, termite treated, they claim. The house is priced at 150,000 to half a million or more dollars. Yet the house is built for under 50,000. The profit the builders make on each home is outrageous. In Louisiana and other places, hurricanes lift these homes and the insurance damages are colossal. In India, the homes are built with a 3 feet deep foundation and 9 inch thick brick walls. The houses never burn down, the hurricane can do nothing to the house and the house never has to be insured against fire or storms. Here the insurance companies are a big scam and most homes are built out of cheap material and the insurance is high. When will this change? When will home builders give buyers the actual value of the home they purchase? I am not against the lenders taking interest nor against the home builders making a profit.

A) obviously, you need to do some more research as your info on American home building is way off. Foundations are built to code, something like 12 inches wide and at least 6 inches deep. Cheap wood? Compare that to block or concrete and it is a lot cheaper. Plus, we have the luxury of choosing styles that brick just does allow. Your foundations have to be that thick to support the weight of the brick. In America, wood home 'give' a little in storms and earthquakes. Brick homes tend to show stress cracks - usually a new one everyday. We have indoor plumbing too. Having wood allows us the space needed for drains and water supply. We have electricity too. Wires are hidden out of sight. I could go on...

Help...need a high mortgage loan with low interest and low payments?

Q) Found the house of my dreams, however they are asking $119,000 which I am not willing to pay because of the location and value just isn't that high in that town, plus it needs a new roof, so I was thinking $80,000-$100,000 however I cannot afford a payment like that, I like around $500 including taxes and insurance, is there anywhere out there that can make this possible, so I can have my dream home

A)

Is there a type of home loan that you can use to buy a house at the county auction?

Q) Here is the thing I want to know. If you get pre-approved for a loan can you use that money to buy a house at the county auction (note: I have the money for the 10% you have to pay that day once you bid on it). Since you only have 30 days to pay off the rest of the balance. Also if you cannot do it that way, is there any other way of getting the finance to buy a house through the auction. Reason I ask this is because auctions start off at 2/3 the value of the house (sometimes market value is actually higher than the value given by the state). But even saving 1/3 of the value and putting 10% of the 2/3 down leaves you with some equity to keep working from so it just makes more sense to buy it there if you can manage to buy it as close to 2/3 (patience I am sure is needed). That makes it a loan for 57% of the value of the house, which keeps the "downpayment" well over the 20% that keeps you out of having to pay a PMI (Private Mortgage Insurance). Thank you. Justin - You make a good point that I was kind of aware of. I definately don't want to borrow more than the purchase price but you left me a bit confused does it structuring it that way still keep you from paying the PMI? Or do they just consider the purchase price when they considering weather your going to pay the PMI? The PMI is additional insurance you pay so the bank can cover itself when people pay less than 20% of the downpayment. Thats separate and in adition from just the regular insurance you pay.

A) Hey Buya, To answer your first question, yes, you can get pre-approved for a mortgage that would be contingent upon the signed purchase agreement. As soon as your bid wins, you would get the mortgage in process, and should be able to close within the 30-day time frame. However, the second part of the question is not possible. A home is worth what one is willing to pay for it, i.e., if you purchase a home for $100,000 but it's worth more, let's say $150,000, the maximum amount any mortgage company could lend you would be $100K, or 100% of the PURCHASE PRICE rather than the value. Most lenders require a seasoning period of 90 days to 12 months, in which you must use the purchase price as opposed to the appraised value until the seasoning period which the lender requires is met.

How drunk are you? Official drinking test?

Q) This simple five question test will help determine how drunk you really are. Begin by answering each of the five questions below truthfully. Then determine your score based on question answer values provided. Lastly, compare your score to the results for a final answer. 1. Think about your wife. In your mind, is she: (a) the most beautiful woman alive; (b) a beautiful woman; (c) attractive; (d) ugly as sin. 2. Think about your job. In your mind, is it: (a) the best job on the planet; (b) a good job; (c) a decent job; (d) the most annoying job ever. 3. Try walking. What happened? Did you: (a) find it impossible to stand up; (b) fall after standing up; (c) walk fifty feet before falling flat on your face; (d) walk one thousand feet without falling. 4. How did you get to the bar? I got here in: (a) my brand new chauffer-driven limo; (b) a brand new car; (c) a used car; (d) a rented, rusted, and damaged 1950 japanese import. 5. What do you think of your strength? I am: (a) invincible; (b) stronger than anyone in the bar; (c) as strong as the average man; (d) a weak and pathetic being. Question answer values For every question answered with an A, add ten points. For every question answered with a B, add five points. For every question answered with a C, do not change the score. For every question answered with a D, subtract five points. For every question answered with an E, add one hundred points. Results For scores ranging from fifty to 135, congratulations. You're over and above the normal drunk. Generally, at least they are able to select a valid option. An e option does not even exist on this test. You should probably check yourself into a hospital for alcohol poisoning. For scores ranging from thirty-five to fifty, you had ten too many beers. If you plan on driving home, make out a will first--that is, if you can even remember your own name. Lastly, don't even think about standing up. For scores ranging from fifteen to thirty-five, you have had one too many beers. Don't drive unless you want a higher insurance rate. Standing up will probably result in injury. For scores ranging from zero to fifteen, you may want to stop drinking now. You have probably had enough beers but don't drive unless you want a ticket. If you choose to ignore the tip to stop drinking, it is not a problem; you probably still have the ability to stand up. For scores ranging from negative twenty-five to zero, you must just be getting started! I bet you don't even have one beer in you. In terms of driving, you are probably just getting out of the car and are walking to the bar this very moment. people! this is a joke! many of u r not drunk at all! just read! jeeez

A) this is one of the funniest tests I've seen for awhile. passed with flying colors as I can't have anything with alcohol due to a medical condition. thanks for sharing this test as I'm going to pass it on.