Being covered one time buy homeowners is enough in the state of Georgia?
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UPDATED: Oct 22, 2018
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Insurance Question from Columbus, GA
Asked on 10/22/2018
Being covered one time buy homeowners is enough in the state of Georgia? If my homeowner's insurance is included in my mortgage. Is that sufficient in state of Georgia? No one else can make me get another coverage correct?
Answer given on October 23, 2018
If you have a mortgage and the mortgage company has arranged for your insurance and the payment for it is a part of the mortgage payment, that should be sufficient and nothing else should be required. However, you should make sure that the insurance policy is a Homeowner policy, because that includes coverage for your personal property and for liability protection. You do not want a simple fire insurance policy.
You have the right to choose your own insurance company and policy to cover your home. It can be set up so the premium payment is made a part of your mortgage payment, as it is set up now. If your mortgage company purchased the policy, you need to be sure it is written properly. Some mortgage companies only make sure the mortgage is covered and nothing else. Make sure this is not the type of policy that you have. It costs nothing to have an independent insurance agent review your insurance.
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