The Perils In Your Mortgage Impairment Insurance

Mortgage impairment insurance pays for losses to mortgaged properties when the customer defaults on their loan due to a “re or other catastrophe. Many mortgage impairment policies limit the coverage to perils required by your bank’s mortgage documents — a very low standard in most cases. Look for coverage for special perils, all risk, or on an “other perils” basis. Ask your insurance agent what’s missing from your mortgage impairment insurance coverage.