Property/Casualty Insurance vs. Mortgage Insurance

HOMEOWNERS insurance is required by mortgage lenders. It protects the homeowner from lawsuits like a "slip and fall" or damages from someone getting hurt on your property. It also insures your home for damages (like a tree falling into your home) or a fire. You can add on to your policy to have earthquake insurance and increased coverages limits including theft. You can also receive a discount from some companies if you insure home and auto and other lines. MORTGAGE INSURANCE is only to insure the BANK if you default on the loan. Mortgage Insurance is typically found when your first mortgage loan is larger than 80% of the value of your home. Call me (415-485-1776) to get out or avoid mortgage insurance. Call CLAUDIA CARDOZA at AAA (415-472-6700 x357) for your home and auto insurance needs. For commercial property and business insurance, call ANDY POPOFF at Farmers Insurance (415-472-1080). Keep your finances in the pink and review your policies, coverage as well as your mortgage annually. Pat Townsley, Consultant. www.PTRE.net. (415-485-1776).