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What type of insurance coverage do I need? 
All mortgage lenders require property, fire, or homeowners' insurance to protect their investments against loss or damage to property. As a homeowner, and in accordance with your Deed of Trust, you must maintain adequate coverage at all times.

Your homeowners' policy must meet the following requirements:
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What types of policies are available?
Various types of policies meet different coverage needs:
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Do I need to tell SunTrust about changes to my insurance policy?

Yes. It is important to keep your loan file up to date with your most recent insurance information. When you call us to update your file, please be sure to have your insurance policy number handy, the effective date, premium amount, and the names and addresses of your insurance company and agent.
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How do I renew my policy?
If your loan is escrowed, we renew and pay your insurance. If your loan is not escrowed, when you renew your policy, be sure your agent has your correct SunTrust Mortgage loan number, mortgagee clause with SunTrust Mortgage listed as mortgagee, and our mailing address, to avoid any problems with identification or mail delivery.
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How do I change insurance companies or carriers?
If you decide to change your insurance carrier, please do the following:
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How can I cancel my insurance?

As long as you have a mortgage, you must always carry adequate insurance coverage on your property, as called for in your Deed of Trust. If your policy is being cancelled for any reason, please contact us immediately so that we may assist you, if possible. Failure to replace a cancelled policy will result in the placement of force-placed insurance, which is more expensive than standard coverage and may not provide the same coverage.
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What is force-placed insurance?

Force-placed insurance is insurance coverage obtained by SunTrust when insurance coverage has lapsed or been cancelled.

Force-placed insurance is a safeguard to protect our interest in the property if damage occurred and you had not maintained adequate coverage. It is almost always more expensive than insurance coverage you can purchase yourself. If a loss occurs, you may not submit any personal claims, under a force-placed insurance policy. This is one reason it is critical that you maintain your own homeowners' insurance.
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What is PMI, private mortgage insurance, or mortgage insurance?
Mortgage insurance protects a lender if a borrower defaults on a loan. Mortgage insurance is placed on the loan when the borrower does not have a sufficient amount of equity or downpayment. For a conventional loan, private mortgage insurance typically is required if you are borrowing more than 80% of the purchase price. Private mortgage insurance makes it possible for home buyers to purchase a home with only a 5% or less downpayment. For FHA loans, mortgage insurance is required on all loans, regardless of the amount of the downpayment. The private mortgage insurance company or the FHA shares the risk of foreclosure with the lender; thus, the lender is willing to lend you money with a significantly smaller down payment.

Mortgage insurance is unique compared with other types of property or life insurance purchased by a home buyer. Do not confuse PMI with credit life insurance, an insurance policy that repays an outstanding mortgage debt upon the death of the borrower who holds the insurance policy. Mortgage insurance is paid for by the borrower, but benefits only the lender. Borrowers cannot make claims against the policy.

The Good Faith Estimate of Closing Costs provides the estimated upfront premium, if any, and the monthly cost for the PMI coverage, if applicable.

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How can I cancel mortgage insurance?

You cannot cancel mortgage insurance on FHA loans,until the loan is paid in full.

Private mortgage insurance (PMI) may be cancelled under certain requirements as determined by the investor of your mortgage loan. The following are the most common conditions required for canceling PMI: If you think that you have satisfied the cancellation conditions and are eligible to have PMI cancelled, please write or email our Customer Service Department. When we receive your request, we will review your account based on the specific guidelines set by the investor on your loan. Not all investors will permit the cancellation of PMI. The investors that do consider the cancellation of PMI have specific guidelines; however, the guidelines may change at any time.
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Mortgage products are provided by SunTrust Mortgage, Inc. View our licensing agreement.

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Services provided by the following affiliates of SunTrust Banks, Inc.: Banking and trust products (including checking accounts) and services are provided by SunTrust Bank, Member FDIC. Securities, insurance (including annuities and certain life insurance products) and other investment services (including Brokerage accounts) are offered by SunTrust Investment Services, Inc., an SEC registered investment adviser and broker-dealer and a member of the FINRA and SIPC. Other insurance products and services offered by SunTrust Insurance Services, Inc., a licensed insurance agency.