Disaster Insurance ProtectionCredit Insurance Markets Inc. has announced Disaster Insurance Protection coverage to homeowners, with mortgages, including condo, rental properties and vacation homes for damages caused by fire, flooding, hurricanes, landslides, mine subsidence or sinkholes, tornadoes, trees falling, lightning strikes and any other form of a disaster. This coverage does not require a Disaster proclamation by any governmental authority.
This program can:
• If damaged by a disaster, reimburse a homeowners policy deductible up to $500 for losses to the structure. The home does not need to be judged unlivable for this benefit to be paid.
• If damaged by a disaster, and is unlivable for more than 48 hours, cover the mortgage payment as long as they cannot live in the home, for up to two years. Note: If damaged by a disaster (eg; fire loss), the program will probably pay both the mortgage payment while the home is unlivable and the homeowners insurance deductible.
• If damaged by a disaster, and is judged to be permanently unlivable, after application of available homeowners insurance proceeds, pay the remaining balance of a mortgage up to $750,000.
Coverage is limited in IL, NC & TX.
Not available in non-admitted states.
- Website: www.creditinsmarkets.com
- Phone: 800-952-7893
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Available in: AK, AL, AR, AZ, CA, CO, DC, DE, FL, GA, IA, ID, IL, IN, KS, KY, LA, MD, MI, MO, MS, MT, NC, ND, NE, NH, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, WA, WI, WV, WY