What does my mortgage or escrow company want in my condo insurance?

Services for Real Estate Pros with Stratum Insurance Agency, LLC

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. You should confirm with your mortgage representative and your escrow company what requirements are in place.


How to get a quote for condo insurance / walls in insurance?




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David Baker

Small Business and Personal Insurance in 49 States
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