Mortgage Billed and Escrow Billed Condo Insurance, Impound Accounts ho6/h06 insurance

Mortgage Billed and Escrow Billed Condo Insurance, Impound Accounts h06/ho6 insurance
Available in over 30 states: Condo, Homeowners, Renters, & Landlord Insurance

Contact: Stratum Insurance Agency, LLC – 949-270-0609

If your mortgage company or escrow company has told you that you need to setup an escrow billed or mortgage billed condo insurance policy or an impound account, contact Stratum Insurance Agency LLC to help you compare the rates of condo insurance policies (ho6 policies) and set up impound billing for you.   Generally speaking, this means that your annual insurance premium for your condo is billed to your lender.  An “impound account” refers to the account which lenders set up to collect money in advance to cover future expenses.  For example, they may collect money for your insurance or property taxes.  Different people may use impound accounts for different purposes.

Stratum Insurance Agency is able to setup your condo policy and then forward your initial insurance bill to your escrow company or lender. Your insurance renewal bills can be sent to your lender with a copy to you.  There are many options that the team at Stratum Insurance Agency can offer to help make your life easier. Of course, there are other billing options available with condo insurance for those who pay for policies themselves, including monthly, quarterly, and semi annual billing.  Fortunately, the agency works with many carriers to help find the coverage that you are seeking at the right price.

Condo Owners need look no further than Stratum Insurance Agency for their insurance needs. Condo buyers obtaining their mortgages are finding that they are often required to purchase condo-unit owners insurance, known as a H06 (ho6) Insurance policy. This is also sometimes referred to as walls-in coverage or walls in coverage.

Because many homeowners association’s master insurance policies only cover the rebuilding of exterior structures and not the interiors, Ii is crucial to purchase the right coverages for your condominium. H06/HO6 policies offer much more coverage than just protection for your personal property, it is key to purchase an adequate amount of dwelling coverage, personal liability coverage, and loss of use coverage.

Stratum sells condo insurance form many usage types, including:

  • Owner Occupied Condo Insurance
  • Vacation Rental Condo Insurance
  • Vacant Condo Insurance
  • Seasonal Rental Condo Insurance
  • Landlord Condo Insurance (income properties)

Current condo owners with insurance, especially those who have not reviewed their coverage in some time, should use this opportunity to review their condominium owners insurance and make sure that they have the appropriate coverages in place. With increased rebuilding costs, it is important to have the right amount of dwelling coverage for your condominium.

Homeowners insurance and condo owners insurance policies offer many coverages of which policyholders are not aware. Some of these coverage options may include identity theft coverage, water backup coverage, special computer coverage, home daycare coverage and personal injury coverage.

If you are a new buyer, contact Stratum Insurance Agency  before closing your loan so that they can help you compare rates and coverage options. Escrow billing is available for new buyers who want to pay for their insurance from at their loan closing or through an impound account. 
 
Stratum Insurance Agency, LLC is able to compare price and coverage combinations from different insurance companies to help clients find a product that meets their needs. The agency is licensed in over 30 states.

 

Request a quote:

By Phone: 949-270-0609

In Person: Call for directions

* Not all products marketed in all states. Stratum Insurance Agency, LLC is an independent insurance agency and/or broker (varies by state). No insurance is offered or afforded through this posting. CA Lic #0e52066

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Stratum Insurance Agency LLC www.stratumins.com DISCLAIMER,TERMS OF SEVICE, AND LICENSE INFO Quote Requests are available at http://www.stratumins.com/ for insurance in over 40 states. * Not all products marketed in all states. Stratum Insurance Agency, LLC is an independent insurance agency and/or broker (varies by location). Coverages and options vary by location. No insurance is offered or afforded through this posting. By reading this article or blog post, you agree to hold the author, the agency or brokerage, family, and anyone who associates with Stratum Insurance Agency LLC harmless from any liability that may arise. The information provided in any of the postings here or on any site from Stratum Insurance Agency, LLC is not intended to be advice and is purely for educational purposes. No recommendations are made by this website, its author, or the company, agents, managers, members, officers, or partners for which the author works Nothing included here should be construed as legal advice. Consult the appropriate professional prior to making a decision. In CA Lic 0e52066 If you do not agree to the with these terms, close this site immediately. No reproduction of the data contained on this site is allowed with express written consent. All information is copyrighted by Stratum Insurance Agency LLC.
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