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Category: Real Estate Law
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Experience:  Attorney and Real Estate broker -- Retired (mostly)
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I have a mortgage on my home in tampa. Can the Insurance company

Resolved Question:

I have a mortgage on my home in tampa. Can the Insurance company make me carry more than the loan?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  socrateaser replied 1 year ago.
Hello,

An insurance company has no contractual in your mortgage with you (aka, "privity of contract"). The insurer cannot force you to carry any particular amount of insurance. Only the mortgagee/lender can do that.

Please let me know if my answer is helpful. And, thanks for using justanswer.com!
socrateaser, Lawyer
Category: Real Estate Law
Satisfied Customers: 34866
Experience: Attorney and Real Estate broker -- Retired (mostly)
socrateaser and 3 other Real Estate Law Specialists are ready to help you
Customer: replied 1 year ago.

So if I owe the mortgage company 76,000.00 the insurance company cannot force me to carry insurance for 194000.00 which is what the ins. company is making me carry cause they said I have to carry for the replacement of my home if it is destroyed and because I live in Florida there is no other insurance company I can go to. So am I forced to carry what they say cause theres no where else to go?

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