Mortgages on Property
Is there a rule that states that your home can't be insured if it has more than three mortgages? Rules for Insurance and Multiple MortgagesHi there, Great question. Many insurers have underwriting rules that state that they will not insure a home with more than two mortgages. Their philosophy is that their is a higher chance of claims if people are having money problems. If you are having difficulty with your insurer, try getting quotes here: Ask another question at House Insurance Questions and Answers Note: Keep in mind that insurance licensing, legislation, and policies often vary by province and most certainly by country. Canada Insurance Source is a free information source. So use this site to gain a general understanding of insurance with your own area and situation in mind. This insurance information is general in nature and the policy wordings always take precedence. It is possible that there are errors and omissions in this website and www.canada-insurance-source.com, or its authors, take no responsibility. Make sure you review the "please read" page. OR visit Canada Home Insurance |