NLIC.org

Donald Said:

Do you have to buy insurance on land with no home in Florida? What if someone trips on the land and sues you?

We Answered:

Not sure about the 2nd question but I think they would be trespassing, and the only to make it legit. you need to post no trespassing signs.

Ross Said:

My whole house burned down rats chewed wires in attic I am 2 mths behind in mortgage will insurance pay claim?

We Answered:

As long as your not behind on the homeowners insurance payment you should be fine.

Roberto Said:

Anyone with florida homeowners insurance here? Keeping windstorm?

We Answered:

Is buying the windstorm coverage going to mean you go bankrupt? Or is covering a windstorm claim yourself going to make you go bankrupt?

It's going to depend on your personal situation, but the homeowners insurance market in FL is SO bad, that people are going broke trying to buy insurance. If buying it means you can't make your mortgage payment, don't. You're trading sure bankruptcy for a possible bankruptcy.

Just like any other money decision - weigh your options.

Maxine Said:

what type of license do you need to sell mortgage insurance?

We Answered:

Depends on what you mean by mortgage insurance.

Most people mean, mortgage LIFE insurance, or DISABILITY insurance. In that case, you need a life, accident, health license.

Sally Said:

Wind mitigation for mortgage/insurance in Florida?

We Answered:

Nope.

You need to have the seller replace that roof now, before the sale closes. That's the only answer.

You can have the seller put in the specified roof that you want, as part of the deal.

Lending regulations flat out are going to prohibit the closing of the deal, on any house without insurance in place.

And the FL homeowners market is extremely tight - you won't get someone to sell you insurance, with a bad roof.

Maybe there's a way to finagle the contract so that YOU put the roof on, before the closing - but if it falls through, you've given the owner a new roof, so that's pretty risky.