Choosing a reverse mortgage can be a scary, complicated path as a result of a HUGE decision you have made. Contact DRickard Insurance for choices in how you handle your insurance and still comply with the bank’s requirements.
You will need to insure your home for the full replacement cost of the residence. This may be a lot more coverage than you are used to applying to your residence. Another, perhaps staggering cost will be the flood insurance that you will be required to purchase, again for the full replacement cost of the home. There are ways to make the necessary insurances more affordable. Work with DRickard Insurance to develop an insurance strategy to help you with your carefully protected cash flow at 607-843-8860 or insurance@drickardinsurance.com.
It is good to contact us before you make up your mind to get the reverse mortgage to see what the insurance consequences of your agreement with the bank will be. Even if you have already entered an agreement, even if some time has passed now, you will likely find good options with us to help you financial situation.
Would you like a sampling of our premiums? Just answer a few questions about your home. Please call us at 607-843-8860 or contact us via email at DRickard Insurance with all the details you can think of.