2007-10-03 04:09:33 · 10 answers · asked by Anonymous in Business & Finance ➔ Insurance
Are you talking about riders insurance(do you rent or own home) If you are buying your house and it is mortgaged the coverage is for whatever you are paying for it... For example if you payed 80,000 that is what your policy must be covered for unless you add more because it is worth more... Each policy is different so you need to call the insurance company and get a quote..
2007-10-03 04:29:04 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I'm assuming you probably cannot afford a home if you earn minimum wage. But, homeowners insurance or even renters insurance all depends on location, property values, what you want covered and tax value. There is no easy way to answer this question without way more info. Call a local insurance agent for a quote.
2007-10-03 04:15:46 · answer #2 · answered by Anonymous · 1⤊ 1⤋
Same as it costs to a person who is making $250,000 a year.
It depends on whether you have a Form 2 or Form 3 policy, on how far you are from a fire hydrant, on whether your fire department is volunteer or hired, on whether you have a dog, whether you have a fence, how big your house is, whether it's made of wood or brick, whether you have aluminum siding, whether you have smoke detectors, whether you have sprinklers, how old the roof is, how old the wiring is.
They will charge you more if you are not very creditworthy, but you can still have excellent credit if you're making minimum wage. They don't even ask how much you earn.
But if you're trying to survive on minimum wage, *everything* is exorbitant....
2007-10-03 04:17:11 · answer #3 · answered by Anonymous · 1⤊ 0⤋
There are SO many variables: how much coverage, what type of policy, deductibles, optional coverages. Your credit score usually will have an impact, but not your earnings.
It is best for you to speak with a local insurance agent with multiple companies to get your best quote on the coverage that makes the most sense for you.
2007-10-07 03:01:52 · answer #4 · answered by annie c 1 · 0⤊ 0⤋
Cost would be the same as for the same house and insurance coverage for someone making $200,000 a year. The cost depends on what you're buying, not how much you make.
2007-10-03 05:06:43 · answer #5 · answered by Judy 7 · 0⤊ 0⤋
I think it depends on the value of the house. A person on minimum wage can get a house through Habitat for Humanity. That's how I got mine.
2007-10-03 04:17:22 · answer #6 · answered by robee 7 · 0⤊ 1⤋
You can afford a house at minimum wage?! I make $32 an hour and I'm not even close to being ready for the housing market! You must not live in the northeast...
2007-10-03 04:13:35 · answer #7 · answered by Firstd1mension 5 · 0⤊ 2⤋
House insurance isn't based on what you make - it's based on where the house is, how much coverage you need for it, how far it is from a fire hydrant, how old/updated it is, and your credit score.
2007-10-03 07:21:58 · answer #8 · answered by Anonymous 7 · 0⤊ 0⤋
has nothing to do with how much you make.
it depends on:
how much you want to insure the property for - replacement value, type of insurance needed, such as flood zone, hurricane zone, how much you want to insure tangibles for, etc.
call any local insurance company or visit their website and you can get quotes for free.
2007-10-03 04:18:59 · answer #9 · answered by g_for_G 2 · 0⤊ 0⤋
the same as any ones and it will depend on you as to how much you want to pay and how much insurance you want to covered
2007-10-03 04:14:05 · answer #10 · answered by hppy2b 2 · 0⤊ 1⤋