Hazard insurance protects the property’s structure against any damage caused by fire, hurricane, or earthquake. Its purpose is to cover the risk of loss and, if damages occur from a covered event, allow you to rebuild the property, subject to the provisions of your mortgage contract.
It is important that as a property owner, you:
All property serving as collateral for a mortgage loan must have insurance to protect the structure against fire, hurricane, and earthquake risks.
Payment for this policy will be considered within the projected disbursements in the escrow account analysis and may affect your monthly payment. If the cost of your policy increases, your monthly payment could be higher.
This type of insurance does not cover losses due to floods, landslides, or tsunamis. If the property is in an area prone to these events, you must procure an additional policy that covers those risks.
If you want coverage for the contents (furniture or other valuable items) of your property, please contact your insurance agent for guidance.
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Call us at 787.724.3659787.724.3659 or Access Mi Banco Online (desktop version), log in by entering your username and password, and in the upper part of the website click on “Contact Us”. From there, write your message, and we will gladly assist you.
We encourage you to consult the following information regarding useful and accessible solutions for you.
FDIC Member. Products and services offered by Banco Popular de Puerto Rico.
1Withdrawals are subject to the availability of funds in your account.
2Deposits are subject to the provisions of the Bank’s Funds Availability Policy. Easy Deposit Mobile is a free service and only for Banco Popular customers with individual deposit accounts and/or commercial accounts (FlexiCuenta de Negocios® & B-Smart®). Customers selected in accordance with the Bank’s eligibility criteria. Checks deposited before 6:00 p.m. of a business day will be processed the same business day, subject to verification and deposit validation. In the back of the check to be deposited, enter your signature, account number and the phrase “For Deposit Only at BPPR.”
3Insurance is underwritten by Chubb Insurance Company of Puerto Rico. Insurance products are offered by Popular Insurance LLC, a subsidiary of Popular, Inc. and an affiliate of Banco Popular. Popular Insurance LLC is duly authorized by the Office of the Insurance Commissioner of Puerto Rico to offer and transact insurance products and has been appointed by Chubb Insurance Company as its Authorized Representative. Popular, Inc. and Banco Popular de Puerto Rico do not offer, underwrite or issue insurance products. Chubb and Popular Insurance LLC, Popular Inc. or Banco Popular de Puerto Rico are not affiliates. Obtaining this insurance is optional and it may be canceled at any time. Banco Popular de Puerto Rico will not condition the credit decision upon the purchase of this insurance or your agreement not to obtain such insurance from an unaffiliated entity. Insurance products are not insured by the FDIC, or other government agencies; are not deposits or obligations of, nor are guaranteed by Banco Popular de Puerto Rico its subsidiaries and/or affiliates. Certain limitations, exclusions and conditions apply. For more information, refer to the Certificate of Insurance.
