Home loan question

[bonnie&clyde]

Being as this is my first house i have ever purchased, i got a letter in the mail saying annual escrow account disclosure statement, and my question is, what is Hazard insurance?

[Pro88LX]

homeowners insurance

[David]

Remember that insurance binder and policy you had to get to go to closing? That.

[bonnie&clyde]

what would cause home insurance to go up? is it just like auto rates where they go up and down?

[Couver]

what would cause home insurance to go up? is it just like auto rates where they go up and down?

Mostly up. Big hail storms or other natural disasters seem to raise everyone's rates in the area affected even if it didn't hit you.

[Stng5Pnt8]

what would cause home insurance to go up? is it just like auto rates where they go up and down?

Your hazard insurance as others mentioned is going to be your home insurance.

Depending on what your lender required, a home policy can start as basic as covering your home against a fire and lightning loss only, and can be either adjusted to cover extended coverages for wind/hail etc. It may also very well have everything included from the get go.

If you have had an increase in price on your home insurance it may have been due to the home insurance rates increasing recently due to the hail storms etc earlier this year. Many companies have been increasing prior to that and are readjusting once again their rates.

My agency primarily works through Allstate, but we also broker through several other carriers depending on the circumstances of each client.

You can shoot me an e-mail with your policy information and I can at the very least review your policy and see if there are any suggestions I may have for you, I can also work up some numbers for you and possibly save you $.

Let me know.

-Tony

tdominguez@allstate.com