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Insurance Discussions about insurance and insurance companies, such as life insruance with savings, house and car.

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Old 02-16-2007, 04:37 PM
Junior Member
Join Date: Feb 2007
Posts: 15
Default Private Mortgage and its extent

I didnt know that Private Mortgage Insurance doesnt protect you or your home.It protects the lender incase you default payment.So does that mean i need another insurance incase my home or property is damaged?
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Old 02-18-2007, 09:29 PM
brian's Avatar
Join Date: Mar 2006
Posts: 791
Default Re: Private Mortgage and its extent

If your property is damaged then it's Building Insurance that you need to rely on - this can be a prerequisite of getting a mortgage approved in the first place, so if you do own your own home, there's a very good chance you already have it.
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