When you purchase a home, consider how you will protect your investment.
Most mortgage lenders insist on fire insurance coverage at least equal to the loan amount or the building value, whichever is less.
You should also consider a homeowner’s policy that combines fire insurance on the building and its contents with personal liability coverage. Consult your general insurance agent or broker for professional advice on home insurance.
MORTGAGE LIFE INSURANCE
Mortgage life insurance (MLI) is inexpensive coverage on your life which protects your family or beneficiaries by paying off your outstanding mortgage in the event of your death. For just pennies a day, you will have peace of mind knowing your beneficiaries will be mortgage free. MLI premiums are based on two factors: your age and mortgage amount. Your premium is added to your mortgage payment so there’s no extra paperwork, and it remains the same until your mortgage is paid off. Joint coverage for spouses is also available.
Disability Insurance is important if your mortgage payments depend entirely or in part on your income. Disability insurance provides replacement income if an accident or illness prevents you from working.
JOB LOSS MORTGAGE INSURANCE
Recently insurance companies have started to offer Job Loss Mortgage Insurance. This insurance covers the mortgage payments in the event that you involuntarily lose your job.
This entry was posted on May 21, 2016 by Jim and Iris
It is with great pleasure and appreciation for me to recommend the services of Jim Gardiner and the entire Gardiner Team. Jim’s awareness of community by-laws and market related activities extracted incremental value for us when we were finalizing the purchasing agreement.JB – Mirror Lake
Just want to tell you that you did a fine job for me on the cottage sale on Lake Muskoka. The sale has removed a huge load from my shoulders. Iris, just a note to thank you again. Money is in the bank!!!!!!BJ – Lake Muskoka
Just a short note to thank you for all of your time, and sharing of your extensive knowledge and expertise of “cottage country” in Muskoka. We’d strongly recommend you to anyone else considering the purchase of a property in Muskoka!J & T
The Gardiner Team was attentive to the things that I responded to during the first few showings and promised that they would find exactly what I was looking for. You know what? They were right. It worked out perfect. I just love it, I love the location, the cottage; I love everything.AT – Lake Muskoka (Quoted from Muskoka Showcase)
The vacation time is always too short. It is so nice here! Thank you for finding this great cottage for us!FW – Lake Muskoka