Any recommendations for Home Owners Insurance in Pasco?

[bentlebee]

That is what I was thinking, but maybe it's the same as car ins. People buy a car get ins. and than cancel it.

The law should change the way new coverage needs to be proven before the other will get cancelled....for both HO ins. in case of a mortgage and for car ins.

[gypsychic]

Originally Posted by HughMcs

How can you get a mortgage if you don't have insurance on the home? Don't the banks in Florida demand that they be on the insurance policy in order to qualify for a mortgage?

You can't. Banks DO require full coverage, including flood if needed, before they will loan on a home. Citizen's will be the only choice for many homes in Florida due to age, construction, flood zones and other factors.

And for car ins., you cannot cancel your insurance - it is needed every year to renew your registration, and you DO have to provide proof of ins.

[debidibly]

Yes, you are required to have homeowner insurance if you have a mortage and possibly flood insurance. Citizens will usually write a policy if no one else will. However, I was told that if you drop them because you got a better deal elsewhere and then choose to go back (believe it or not, sometimes their prices are better) they don't have to take you back. I think you have to prove that there is a 15% price difference or more in order to go back.

[debidibly]

Originally Posted by bentlebee

That is what I was thinking, but maybe it's the same as car ins. People buy a car get ins. and than cancel it.

The law should change the way new coverage needs to be proven before the other will get cancelled....for both HO ins. in case of a mortgage and for car ins.

I don't escrow my taxes or insurance and aside from the intial proof of homeowners insurance I had to provide at settlement, the bank has no idea what coverage I have. Some ask for current paid receipts each year if you are paying it yourself. BOA hasn't asked me yet.

[FloridaKash]

Originally Posted by debidibly

I don't escrow my taxes or insurance and aside from the intial proof of homeowners insurance I had to provide at settlement, the bank has no idea what coverage I have. Some ask for current paid receipts each year if you are paying it yourself. BOA hasn't asked me yet.

I have a feeling banks have other worries right now. Heck, they're probably content that you are paying your mortgage.