My Lender Is Requiring Insurance. How Much Do I Have To Carry?

Free Insurance Quote Comparison

 Secured with SHA-256 Encryption

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Full Bio →

Written by

UPDATED: Jul 16, 2021

Advertiser Disclosure

It’s all about you. We want to help you make the right legal decisions.

We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.

Lenders will ask you to carry insurance as security for their investment, just as they may require fire insurance and other types of coverage as investor protection. If you’re financing, lenders will require you to carry at least 80% of the value of your home or up to 100% of the amount of the mortgage. It is not a good idea to try and save a few dollars by carrying the dwelling policy limit bare minimum amount of insurance. The value of your home may increase or a total loss may occur. The insurance company may apply the “coinsurance” principal and not fully cover a loss.

Free Insurance Quote Comparison

Enter your ZIP code below to compare cheap insurance rates.

 Secured with SHA-256 Encryption