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Message
re: Homeowners Insurance non-renewal...wtf
Posted on 3/16/15 at 1:45 pm to GFunk
Posted on 3/16/15 at 1:45 pm to GFunk
quote:
Mortgage co will just force place insurance on the property. Could see an uptick in monthly cost but it will be temporarily.
If you have any equity in the home or any contents, stay away from this. It will be high and they are only insuring their portion. No contents coverage, no liability coverage, and are only insuring the home to the value of the loan. (May not be the case with all mortgage companies, but is definitely the case with some)
In Louisiana, Foremost offers a vacant home policy for situations like this. Call an independent agent in TX to discuss.
1
Posted on 3/16/15 at 4:05 pm to Slickback
quote:
Slickback
quote:
If you have any equity in the home or any contents, stay away from this. It will be high and they are only insuring their portion. No contents coverage, no liability coverage, and are only insuring the home to the value of the loan. (May not be the case with all mortgage companies, but is definitely the case with some) In Louisiana, Foremost offers a vacant home policy for situations like this. Call an independent agent in TX to discuss.
He already made the decision not to insure it.
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