Homeowner's Insurance Information

Get It To Us On Time

Just to remind you, we cannot prepare your closing documents or give you any monetary figures for your closing until we have your insurance information. We will need a binder or evidence of insurance that states dwelling coverage, premium amount, effective dates, and the correct mortgages clause.

Choose Your Own Company

It is your responsibility to choose your own insurance company. Our recommendation is to choose an insurance agent with an excellent reputation that is referred to you by a family member or friend. An extra $100 per year in an annual premium is nothing when it comes to being taken care of by an insurance agent in times of need.

Dwelling Coverage

The dwelling coverage of your home must be at least in the amount of your mortgage. That is all we require regarding your insurance coverage.

Mortgagee Clause

When your agent is getting your insurance policy ready for you to pick up, he/she will need to know our mortgagee clause. It is imperative that your lender's mortgagee clause is given to your insurance agent verbatim and that it is on your policy. Have your agent call and speak with your processor for the correct mortgagee clause.

Policy and Paid Receipt

You are required to bring a copy of your new, homeowner's insurance policy to closing with a paid receipt that shows you have paid your policy in full for one year. This mostly applies to purchase transactions unless you are refinancing and your next policy renewal date comes due in less than four months.