Understanding supplemental homeowners insurance
Supplemental homeowners insurance is by definition any policy in excess of what you already have as a base of risk management. It is additional home protection than what is required by law. People choose to buy it because their first policy might not cover a certain type of damage, such as flood insurance. Supplemental homeowners insurance even helps families cover their mortgage payment if they experience an involuntarily loss their job.
Assurant Specialty Property is an example of a company that provides this type of insurance by partnering with financial institutions, property managers, and manufactured home sellers to provide insurance solutions to their customers. Its services include insurance tracking and management, lender-placed homeowners insurance, and property and personal coverage such as renters insurance.
Home protection of any sort can be critical to protecting families from home damage or financial distress. Houses are usually sturdy structures, but are frequently damaged in storms or floods or other natural disasters. A family deprived of their home and its containing property will be left impoverished; therefore having someone to cover the damage makes excellent economic sense.
First Protector is a type of supplemental homeowners insurance offered by Assurant Specialty Property. It pays the homeowners mortgage payment and covers additional expenses if the home cannot be inhabited due to a disaster. This is very important since the family might still own the property while the insurance company is assessing damage and still have to continue making their mortgage payments. Mortgage payment protection can save hundreds of dollars over several months or a year.
First Protector provides other benefits such as paying the mortgage if you or your co-borrower becomes involuntarily unemployed. This benefit will pay the monthly benefit amount for the number of months you select at time of purchase. First Protector is a useful option that even provides immediate cash assistance to further assist you with additional expenses one may incur as a result of being displaced from ones home due to a covered loss. For more information, please visit www.firstprotector.com.