MIAMI – Has your home insurance coverage company notified you that your plan is currently being canceled or will not be renewed? If so, you must promptly safe a new plan if you are however generating home loan payments on your home.
Don’t procrastinate. Don’t blow off the observe. Get a plan from state-operate Citizens Residence Insurance coverage Corp. if you have no other preference.
You will not like the different.
It’s called pressure-positioned insurance coverage, and your home loan agreement gives your lender the appropriate to defend its curiosity by putting a single on your property if you allow your plan lapse.
It’s high-priced – as considerably as two to ten occasions as high priced as typical insurance coverage. You will be required to pay the inflated premiums, escalating your regular home loan payment.
You might drop the appropriate to sue around promises disputes.
And it will not include