Why Does My Mortgage Company Keep Asking Me The Same Question?

[LearnMedicare]

Each year, my mortgage company sends me a letter saying that they need to verify that I still have homeowners insurance.

Nothing changes from year to year, but they keep asking me to provide proof.

How can I automate this or make it go away?

 

[Norwayguy]

Re: Why Does My Mortgage Company Keep Asking Me The Same Question

Each year, my mortgage company sends me a letter saying that they need to verify that I still have homeowners insurance.

Nothing changes from year to year, but they keep asking me to provide proof.

How can I automate this or make it go away?

My homeowners policy is paid through escrow so the mortgage company pays the premium so no need. I would ask them if adding them as a leinholder on the policy would work?

 

[djs]

Re: Why Does My Mortgage Company Keep Asking Me The Same Question

Talk to your agent, who can fix this, or, pay off your mortgage (I assume the first is more practical).


Dan

 

[Aram Fingal]

Re: Why Does My Mortgage Company Keep Asking Me The Same Question

If your mortgage company is listed as a lien holder on your home policy (which I'm surprised they haven't insisted on it if they aren't) then they should just get a renewal notice every year.

That being said, some mortgage companies just don't process paperwork very well and freak out at every renewal. I get calls from clients regularly that say they got a letter from their mortgage company saying they didn't have proof of current insurance, or that they didn't think they had enough coverage (all they actually want is for their client to call their agent to be extra super definitely positively sure that they have enough coverage).

 

[moneymaker1]

Re: Why Does My Mortgage Company Keep Asking Me The Same Question

Ask your mortgage company.

 

[cm2881]

Re: Why Does My Mortgage Company Keep Asking Me The Same Question

Yes, I have to echo the above advice.

Otherwise, if you can't automate it, you might try beating them to the punch and just sending it along as soon as you get your annual policy renewal. your agent might also be willing to just do this automatically for you as well.

g'luck!

 

[iiinycboi]

Re: Why Does My Mortgage Company Keep Asking Me The Same Question

Not sure if this applies, have agency billed items require me to bill the mortgagee every year, so maybe they didn't get the bill and thought you canceled your insurance?