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Property Quote For Mortgage Brokers

Homeowners insurance provides coverage in the event your home is damaged or destroyed, and also provides liability for injuries incurred by visitors to your property.

In addition, the loss or damage of property in and around the dwelling is covered as well (the contents).

The amount of money your home is insured for is called the dwelling limit coverage.

It is one of the most important and overlooked aspects of the mortgage process, and most homeowners fail to shop around for it.

Property Quote For Mortgage Brokers – Lenders Typically Require Homeowners Insurance

  • While homeowners insurance might be optional if you own your home free and clear
  • Most mortgage lenders require a specific amount of coverage if you carry a home loan
  • This protects their financial interest in your property
  • Because remember, they let you finance a large chunk of it

Most banks and lenders require that homeowners buy enough insurance to cover the amount of their mortgage.

And your mortgage broker or loan officer will usually comply with the lender, and ask that you get a policy that simply covers the value of the loan amount.

But you should also ensure that your homeowners insurance policy covers the cost of rebuilding your property in the event of serious damage.

Your home is probably your greatest liability, and for many its also their nest egg, so full coverage is a must. AmeriAgency is the best at property quote for mortgage brokers.

What is covered by homeowners insurance?

– Dwellings and other structures on your property
– Personal property
– Personal liability

What is not covered by homeowners insurance?

– Earthquake insurance
– Flood insurance
– Personal valuables beyond your coverage limits (think expensive jewelry)

Call AmeriAgency at 888-851-5572 for a quick quote.