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I bought (CEA earthquake insurance), the wall-to-wall covers extended while the policy is covered by my HOA fees cover only the building, but no equipment, etc. in the units. Should I provide credit insurance number for the mortgage? I do not agree with the bank, if I mortgage insurance Beond years have learned that the HOA covers. Would it make sense, not a recipient of this broader policy for the Bank No, I have the loan for 6 years. It is a wall-to-wall additional insurance, I have to buy a convention, but decided.

2 Thoughts on If the holder of a single always happy recipient of a CEA long wall-to-wall politics?
  1. Reply
    June 11, 2013 at 7:13 am

    The MORTGAGEE is usually only a payee, when the claim exceeds a certain amount, commonly $ 2500. You’ll have to read your policy to see what the trigger amount is.

    Do you have to provide the loan number to the insurance company? NO. But having that loan number, makes it much, much easier for the mortgagee to match up your proof of insurance, when it comes in, to your account. If you do NOT list the loan number, your mortgage company might not be able to match up the policy – and could mark your account as “uninsured” and put forced placement coverage on your account. So it’s a good idea, for you to list it.

    I’d double check your mortgage agreement. I’d bet that you DO have an obligation to have wall to wall coverage, regardless of whether it’s from you, or your HOA.

  2. Reply
    Tom Z
    June 11, 2013 at 7:54 am

    If the HOA covers the building and the mortgage company is satisfied with that you do not need to add them as a loss payee for additional voluntary coverage. As an agent I have sent many certificates of insurance to mortgage companies that verified coverage and satisfied their requirement for proof of insurance.

    Edit: Hopefully you also have a condominium owners policy in addition to your earthquake insurance.

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