walls in insurance: What does my mortgage or escrow company want in my condo insurance?
- 01/02/17 06:23 PM
Mortgage Company Condo Insurance Requirements
In recent years, we have seen the mortgage and escrow companies requiring that condo owners purchase coverage for their interior upgrades that equals 20% of their loan amount.
Your interior upgrades are sometimes referred to as dwelling coverage, condo building items, or improvements and betterments. When you contact us for a quote, let the representative know if your company has a requirement that you purchase 20% of the loan value for your interior upgrades. For example, if your loan is $250,000, then you need to purchase $50,000 of coverage for your condo building items. … (0 comments)
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Mortgage Company Condo Insurance Requirements
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