For years, homeowners insurance has largely been treated as a routine final step in the mortgage process — something borrowers secure shortly before closing to satisfy lender requirements. But that approach is becoming harder to sustain.
In many parts of the country, insurance costs are beginning to reshape housing affordability altogether. Borrowers who once focused primarily on mortgage rates and monthly principal and interest payments are now concerned with rising premiums, stricter underwriting standards and reduced carrier availability that can materially change the total cost of homeownership. Some carriers have become more selective about the homes and markets they are willing to insure. In certain cases, borrowers discover coverage ...
