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| *Loan,banking and credit>>>homeowner insurance |
Homeowners insurance? |
my xbox 360 was stolen from my house along with my 3 controllers and my 2 games. i have insurance on my credit card i bought it with that will erase the debit from the card if somthing is stolen, and also my mom is claiming it on her homowners insurance... all total wed get about 400 dollars because of our 250 deductible. is it legal to clam the loss on the insurance and get the debt wiped off of the card? I'm sorry your XBox was stolen! Hopefully you had your memory card in a safe place! It's frustrating to have to start from scratch, I know from experience. It's not legal to do that, but it happens all the time. Your homeowners insurance will ask if anyone else is covering the loss. If someone else does cover the loss, they will give you a percentage of the loss (pennies on the dollar). Your credit card company will ask the same thing. However, since the card is in your name and the insurance is in Mom's name, you all will be fine. The above poster is indeed correct, though it needs to be mentioned that a claim on the homeowners is probably not your best choice, it could lead to: A) Higher insurance rates come renewal time due to loss of any claim free discounts B) Possible cancellation of the policy if the claims frequency (meaning this isn't the first claim) gets too high. C) Either A or B would lead to a high insurance premium should your mother choose to switch companies on the home insurance, and possibly higher rates on any secondary home policies she may take out. It'd probably be best to use your card as opposed to Mom's policy. |
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