A house is badly damaged in a fire. Insured event is enormous. Now the house is for sale. What’s going on?

A house in my town was seriously damaged by fire a few months ago. My friend, I am speaking only occasionally these days have bought a few years ago with the help of a gaurentor because he had bad credit. Anyway, a few months after the purchase, there was a big fire and the house was severely damaged. I’ve heard, he submitted a large insurance. A massively reduced price (maybe 50% less, because of all the damage), which is probably happening here in terms of the claims – I was recently revealed that the house is now for sale surprised insurance, real estate, etc? Who gets the money from the insurance? The buyer? His gaurentor? The new owner? Insurance companies never pay money to people, even if they do not recover a damaged home, rather just buy a new one? Someone wants to offer a speculation?

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