Answers about General Property Insurance
Select from the following questions about property insurance and home insurance
- I let my home insurance lapse. The bank went out and secured a new policy, and then notified me that I'm responsible for paying the premium. The new insurance is a lot more expensive. Can the bank do this?
- My mortgage company did not pay my home insurance last month. My policy was cancelled. Is the bank now responsible for insuring me?
- My home was damaged in a hurricane. I received an insurance check and sent it to the bank for its endorsement, but the bank won't remit the funds to me so that I can repair my home.
- My home was damaged by an event—such as fire, wind, or storm—covered by my homeowner’s policy. The bank will not send me the entire amount of the insurance check so that I can repair my home.
- When I receive an insurance check made payable both to me and to the bank, do I have to send it to the bank?