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Homeowner's Insurance |
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Homeowners insurance offers protection for your dwelling, as well as your personal possessions and personal liability.
Homeowners' insurance varies from company to company, as do their requirements. Your premium will depend on the amount of coverage you get on your dwelling and any other items that the policy will cover.
For lending purposes, you will be required to have coverage on the dwelling for at least the loan amount.
Also keep in mind, that some agencies will offer a multi-policy discount if you have your homeowners insurance AND you auto insurance with them. Be sure to inquire about any applicable discounts.
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The chart shown below below states an estimated premium amount based on the coverage amount. Take this amount and divide by 12 to get the monthly figure.
FRAME HOME BUILT AROUND 1980 AND
AFTERESTIMATED HOME INSURANCE AMOUNT |
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Coverage Amount |
Estimated Premium |
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$40,000 |
231.00 |
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$50,000 |
260.00 |
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$60,000 |
283.00 |
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$70,000 |
313.00 |
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$80,000 |
343.00 |
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$90,000 |
379.00 |
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$100,000 |
407.00 |
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$110,000 |
446.00 |
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$120,000 |
484.00 |
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$130,000 |
520.00 |
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$140,000 |
567.00 |
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$150,000 |
606.00 |
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$160,000 |
642.00 |
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If you are escrowing your taxes and insurance, the monthly insurance amount calculated above, will be added to your required monthly mortgage payment to equal your total monthly payment. |
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Signature Real Estate Services would be happy to assist you in any way we can throughout the home buying, financing and selling process. We are a local full service mortgage broker and Real Esate Agency.
Please feel free to give us a call (814) 838-0740, toll-free (888) 582-0983,
or via email info@eriehome.com.
Let us put our expertise to work for you!
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