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Who decides on the type of insurance, the mortgage company or me?

April 26, 2017COMPANY decides Insurance mortgage type

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Who decides on the type of insurance, the mortgage company or me?

2 Answers

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You do. The mortgage company collects a set amount from you each month in order to protect their investment. This money is put in escrow and covers your insurance and taxes. However, the policy is still yours and you might select the insurance you feel offers the best coverage at the best rates.

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You do. The mortgage company collects a set amount from you each month in order to protect their investment. This money is put in escrow and is used to pay your insurance and taxes. However, the policy is still yours and you may select the insurance you feel offers the best coverage at the best rates.