Mortgage Information and Resources
PITI
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Property Insurance For Your Mortgage.
Insurance - If you have a mortgage the lender requires that you carry homeowners insurance.
Here are some sections that will appear on your policy:
Dwelling - The building structure where the named insured resides and
is principally used as your private residence.
Dwelling Extensions - All the building or structures on the policy lot that is
not attached to the house. This will include garages, sheds, gazebos, decks...
Personal Property - Covered loss to movable
property like a stereo, bicycle, furniture or clothing. You can also get an extended policy for more valuable items.
Loss Of Use - Coverage of living expenses when a direct physical loss covered makes your residence premises uninhabitable for up to
the amount of time specified in the policy. This includes payments for thel costs of a place to stay, food and other living expenses.
Personal Liability - Protection for if you become legally obligated to pay for covered accidental bodily injury or property damage
to others
Medical Coverage - Protection for anyone who is injured on your property. This protection pays the medical expenses they incur, regardless
of who was at fault.
