08-07-2019, 01:31 PM
Ask a mortgage broker for a list of insurance agents who offer tsunami insurance. Some properties require tsunami insurance or the underwriter won't finance it. If the company you are looking at isn't on the mortgage broker's list, don't use them. If it's not good enough for the bank financing the property there is a reason.
Similarly, we have hurricane insurance because the lender requires it. After Iselle we had some minor damage (fences, catchment cover, etc) and asked our agent if any of it was covered. The answer was NO, the (cheap) insurance we bought only covered the structure that the bank had financed. But at least I had an answer. More coverage was available at a higher price.
Try calling Karen Kline (mortgage broker) in Hilo.
Similarly, we have hurricane insurance because the lender requires it. After Iselle we had some minor damage (fences, catchment cover, etc) and asked our agent if any of it was covered. The answer was NO, the (cheap) insurance we bought only covered the structure that the bank had financed. But at least I had an answer. More coverage was available at a higher price.
Try calling Karen Kline (mortgage broker) in Hilo.