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Tonya Said:

How do I get my bank to reduce my hurricane insurance requirements?

We Answered:

Why wouldn't you want replacement value? Can you realistically rebuild your home if a hurricane blew it down and you only got the mortgage value back? Or, are you saying you are willing to walk away and start over if you suffer such a huge loss?

Basically, if it is in the mortgage contract you signed, you don't have too many choices. The choices are: (1) buy insurance at the level they require from a provider that you select. (2) let them buy the insurance for you and take it out of your escrow account (3) refinance your mortgage with another bank who doesn't impose this requirement.

If your house is almost paid off, you may want to look into a home equity line of credit to use it to pay off the primary mortgage.

Also, if your concern is the cost of the coverage, ask your insurance agent if you can change the deductibles to make your coverage more affordable. For example, if you agree to be responsible for the first $5,000 worth of storm damage, you may find that the coverage cost is much, much lower and will still satisfy your bank.

Barry Said:

What are the requirements to start a motor insurance brokerage and a mortgage brokerage in singapore?

We Answered:

Well, it would be helpful if you posted it to the appropriate country's board. You've posted this to the USA board.