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Homeowner’s Insurance

Understanding your homeowner's (hazard) insurance options and responsibilities is an important part of protecting your home. That's why we've outlined the types of policies available, some general insurance information, plus tips on how you can reduce insurance costs on your home.

Frequently Asked Questions

What are my homeowner's insurance responsibilities?

All mortgage lenders require the homeonwers to have homeowner's insurance. As a homeowner, and in accordance with your Deed of Trust or Mortgage, you need to maintain adequate homeowner's insurance coverage at all times.

Your homeowner's policy must meet the following requirements:

  • Provide at least minimum protection for fire and extended coverage property insurance in an amount that is sufficient to rebuild or replace your property's structure/improvements at today's replacement cost.
  • SunTrust Mortgage, Inc. must be listed as the mortgagee on all policies.
  • Insurance must be with a company of carrier rated B or higher by the A.M. Best Rating Guide.
  • Unless a higher maximum deductible is required by state law, the maximum allowable deductible for a home mortgage is 5% of the face amount of the policy.
  • SunTrust Mortgage, Inc. requires that your flood insurance deductible not exceed $10,000 on non-condos or $25,000 on condos. If you have an FHA, VA, or Affordable Housing loan, the maximum deductible is $5,000 on non-condos or $25,000 on condos.


What types of home insurance policies are available?
  • Homeowner’s Insurance insures that your home will be replaced or the damage will be repaired up to the amount of coverage obtained for losses from fire and other hazards covered by the standard extended coverage endorsement.
  • Flood Insurance is required in areas where the dwelling is in a Special Hazard Flood Area A or V. Flood insurance is highly recommended for all clients, regardless of flood zone, to fully protect their interest.
  • For condominium units, the homeowner’s association typically provides the minimum insurance that we require.  You should consult an insurance professional for advice on any additional insurance you may need for your own protection.
  • Earthquake Insurance is usually carried on a voluntary basis.
  • Windstorm coverage is typically covered in the extended coverage endorsement of the standard homeowner’s insurance policy.  If your homeowner’s insurance policy excludes Windstorm coverage, a separate policy proving Windstorm coverage is required in addition to the homeowner’s policy. 
Should I inform SunTrust Mortgage if I make changes to my homeowner's insurance policy?

Yes. It is important to maintain the required insurance policies on your home. If you need help paying for your non-escrowed insurance policy, please call us to discuss how we can pay your premium and establish an escrow account. If SunTrust does not have proof of the appropriate insurance coverage, we are required to obtain lender placed insurance to protect our interest in your property.

Insurance mailing address:
SunTrust Mortgage, Inc.
P.O. Box 47047
Atlanta, GA 30362

For more information, contact SunTrust Mortgage Client Services at 800.634.7928.

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