Insurance

Questions about Insurance?  Below are some frequently asked questions when it comes to types of insurance.  If you can’t find what you are looking for please contact us at 706-653-1400.

How much insurance do I need?

Your homeowner’s insurance policy should cover the cost to rebuild the home. This insured amount may be higher or lower than the actual purchase price as long as it meets the program requirements. The insurance company you choose can give you an actual quote based on specific information about the property.

How do I know if I need flood insurance?

Most standard homeowner’s insurance policies do not cover loss due to flood. The law requires that if your home is located in a Flood Hazard Area you must purchase flood insurance. If you chose, you can obtain flood insurance coverage even if you are not required to do so by the lender. The law requires lenders to do a flood hazard determination on all properties securing a mortgage. Many properties in our area are located in flood zones. Be sure to verify your property’s elevation above sea level as this can affect your insurance rates. Please visit FEMA for more information.

Do I need title insurance?

Title insurance protects the lender and homeowner against any loss resulting from a title error or dispute. Title insurance protects the homeowner until the property is sold. A title search is a search of public records to confirm the property’s owner and to find out if there are any liens against the property. New title insurance policies are required on purchase money mortgages and traditional refinance mortgages.