Can a mortgage company force me to pay for their home owners insurance?

ING threatens every year to charge me the $4,000 annual premium if I do not provide proof of insurance (for which I pay $1,000) by their deadline. Can they do this just because I have not provided them the proof by their deadline, even though I do have insurance?Can a mortgage company force me to pay for their home owners insurance?
Home insurance covers lots of different things. I don't understand all the fine print of my policy, but my home insurance agent is always a phone call away. Try calling your agent or a agent in your area. http://www.easyhomeinsuranceguide.com They should be able to help you.Can a mortgage company force me to pay for their home owners insurance?
Most homeowners insurance companies provide the documentation to the mortgagee without any effort on the part of the insured. The information should specify that the coverage is in effect until the mortgage company receives written notice of cancellation. There are a few lenders that seem to have some difficulty understanding these provisions. Perhaps ING is one such lender.





I would recommend that your agent contact them and ask to speak to a supervisor so that you do not have this situation occur every year. Otherwise, you can ask your agent to provide the required documentation each year for you. Your agent does work for you, so he should be willing to assist you as needed.
Great question! Yes, you absolutely have to show proof of insurance. The mortgage on your home is an investment for the mortgage company and they need proof that their investment is protected. This clause is most assuredly in paperwork you've signed to secure the mortgage.





However, in most cases the insurance company will just communicate directly with your mortgage company and you won't have to get involved. I would suggest contacting your insurance provider and making sure they're acting on your behalf to help you out with this.
YES. It is in your paperwork that you signed (whether you read it or not) that you will provide proof of insurance. If you don't, then they have to assume you don't have it. That means they have to get it or else their collateral is at risk, b/c really, if the house burned down without insurance, how or why would you pay the loan back and exactly what would they foreclose on? You agreed that they could do that (Trust me - you probably didn't read that part, nobody does).





BTW - it's immensely stupid not to have insurance. It's a very easy thing to ask your insurance carrier to fax it to your mortgage company. This should not be an issue.
They can. So, why not just do it the easy way and furnish them proof you have insurance. That's all they want!! What's so difficult about it?? Insurance companies see requests like this all the time. Call your ins company, they will take care of it in a minute.
Yep they can.





Read the loan documents you signed.





Since they ask for Proof of Insurance every year - when your policy renews - just go ahead and send them the documentation they need.
~~Yes, as long as they hold the loan they will force you into their insurance coverage unless you show proof of your own.





Your insurance company needs to send them proof of insurance certificate, and they won't hassle any longer.~~
Yes, you AGREED to it, when you took out the mortgage. It's in the contract. They need an actual copy of the declarations, naming them as mortgagee.
Well, yes... But you can easily check lower home ins quotes in internet, for example here: homeinsurance.awardspace.us
Sure, they are only protecting their interest. Provide them the proof and let it go.