I’m looking to obtain mortgage insurance/protection on my home in the event either my husband or I lose our jobs. Just something that will pay the monthly bill until a new job is found. I see a lot of sites offering it and a lot more that just offer protection in the event of disability or death. Are there any companies that are recommended for this?
Laura L, Home insurance covers lots of different things. I don’t understand all the fine print of my homeowners policy, but my home insurance agent is always a phone call away. Try calling your agent or a homeowners agent in your town. http://www.goodinternetdeals.com/Home-Insurance.html They will be able to help you.
None.
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Your only hope is to get this thru the mortgage company that gave you the loan. They sell services like this; including making your mortgage payment when you are ill or die.
Otherwise, Lloyd’s of London is the only company that offers "customized" insurance for anything that you want to have insured..
References :
None, in the USA. Unemployment is ONLY "sold" by the state.
That’s because there is a huge problem with "adverse selection", like flood insurance – if the government didn’t force ALL employers to buy it for their employees, then people who DID buy it, would have incentive to put in claims.
Your best bet, is to not overextend, when buying a house – don’t buy one, until/unless you can put down 20%, and make sure that the mortgage payment is less than 40% of either one of your incomes.
References :
Laura L, Home insurance covers lots of different things. I don’t understand all the fine print of my homeowners policy, but my home insurance agent is always a phone call away. Try calling your agent or a homeowners agent in your town. http://www.goodinternetdeals.com/Home-Insurance.html They will be able to help you.
References :