First Protector® - Frequently Asked Questions

Frequently Asked Questions

Eligibility

What types of losses are covered?

This is an all-risk policy/certificate. Any loss that causes damage to the structure of your home or otherwise makes your home temporarily uninhabitable is covered unless it is stated in the policy/certificate exclusions. Covered losses include fires, floods, windstorms, radiation, earthquakes, mudslides, volcanic eruption, gas leakage and more.

What types of homes are covered?

First Protector offers coverage for many types of residences, including single-family homes, townhomes, mobile homes, condominiums, and non-commercial rental properties.

Is coverage available on a residential property I own, but do not live in?

In most states, residential properties that meet one of the following conditions are eligible for First Protector coverage.

1. Owner-occupied dwellings or townhouses not used for Commercial Purposes;

2. Owner-occupied residential condominium units not used for Commercial Purposes;

3. Dwellings, townhouses or residential condominium units owned by the Borrower and rented or held for rental to the same tenant for a lease term of 6 consecutive months or greater; or

4. Seasonal/vacation or secondary homes that are not the Borrower's primary residence but are used on an intermittent basis by the Borrower and if rented, must be rented for a lease term of 6 consecutive months or greater to the same tenant. The property must be furnished and utilities must be maintained and functioning.

See Limitations and Exclusions for specific details about eligibility.
Coverages

What is First Protector?

This insurance pays your monthly mortgage payment when your home becomes temporarily uninhabitable (for 48 hours or more) due to a covered loss. Payments are made for up to two full years while your home is being repaired or rebuilt. Benefits are retroactive to the first day after a 30-day waiting period.

First Protector also pays your homeowners policy deductible, or a portion thereof, even when you are still able to live in your home. First Protector pays your remaining mortgage loan balance if your home becomes permanently uninhabitable due to condemnation, or movement of the land on which your property exists after proceeds are paid by your homeowners policy.

What is Involuntary Unemployment Coverage?

Involuntary Unemployment Coverage is an additional coverage that pays your monthly mortgage payment, or a portion thereof, if you or your co-borrower (when joint coverage is selected) become involuntarily unemployed. If you or your co-borrower (when joint coverage is selected) become eligible for Involuntary Unemployment benefits, we will pay the Monthly Benefit Amount for the number of months you select, according to the terms of your certificate/policy.

To be eligible for this coverage you must be working for salary or wages at least 30 hours a week for at least nine (9) consecutive months in a non-seasonal occupation for someone other than yourself. If joint coverage is selected, the joint applicant you select must also meet the above requirements as well as being named on the mortgage.

What is Emergency Cash?

Emergency Cash, if offered and selected by you, is coverage that provides emergency cash if a covered loss renders your home uninhabitable and vacant for 48 hours or more.

What is Extension of Repairs?

This extension of time to start repairs ensures that you continue to qualify for the monthly mortgage payment protection benefit when you're securing a contractor and/or repair materials beyond the standard 90 days (120 day in TX) allowable. Extension of Repairs lengthens the timeframe required to begin your home repairs to 180 days from the date you are displaced from your home. When disaster strikes, many homes are often impacted, and repair supplies may become scarce. Extension of Repairs to 180 days gives you the additional time you need to secure these resources to begin repairs to your home, while keeping your mortgage payment protection benefit in place.

Explain temporarily and permanently uninhabitable.

Temporarily uninhabitable means you are unable to live in your home for more than 2 days, while repair or reconstruction is taking place to make your home livable again. Permanently uninhabitable means your home cannot be rebuilt due to a condemnation or movement of the land on which your property exists.

Example: If your home catches fire but it is repairable, it could be considered temporarily uninhabitable. If, however, an earthquake causes the land where your house is located to move or shift, it could be permanently uninhabitable because you may not be able to rebuild on that property.

How is this different from my homeowners insurance?

A typical homeowners policy pays for the repairs to your home, but it usually does not make your mortgage payment. First Protector pays your mortgage payment while you are unable to live in your home, for up to two years, when your home becomes temporarily uninhabitable for 48 hours or more due to a covered loss. It pays your homeowners insurance deductible, on dwelling claims, up to the amount stated on your declaration page, if you are displaced from your home as a result of a covered loss. Plus this insurance pays your monthly mortgage benefit regardless of all other insurance policies, including homeowners.

Does First Protector repair my home?

No. First Protector does not pay for repairs to your home. First Protector pays your monthly mortgage payment when your home becomes temporarily uninhabitable (48 hours or more) due to damages caused by a covered loss, for up to two years, giving you time to have your home repaired or rebuilt to livable conditions. When your home is judged to be permanently uninhabitable, First Protector pays off the balance on your mortgage, after proceeds payable by your homeowners policy.

Is this earthquake, flood or fire insurance?

No. First Protector is not earthquake, flood or fire insurance. When a flood, fire, earthquake or other covered loss damages your home, First Protector pays your mortgage payment for up to two years if your home becomes temporarily uninhabitable for 48 hours or more. This coverage also pays the homeowners policy deductible on dwelling claims up to the amount stated on your declaration page if you are displaced after a covered loss.

Do I still need homeowners insurance?

Yes. Mortgage companies require you to carry homeowners insurance. Homeowners insurance pays for damages to your home. However, a standard homeowners insurance does not make your mortgage payment when a loss occurs.

See Limitations and Exclusions for specific details about coverages.
Billing

What are my payment options?

For your convenience, you can select one of two payment plans:

• Annual Plan allows you to pay your annual premium in one lump-sum.

• 4-Pay Plan allows you to spread your annual premium across four equal payments.

The first payment is due at enrollment and the three subsequent installments will be

billed bimonthly.

The payment plan you select will remain in effect unless you contact us and request it

to be changed.

What are the payment methods available?

We currently accept payment by credit card (Visa, MasterCard), checking/savings account, mortgage billing (if applicable), check or cash. Payment methods available may vary by offer.

How is the premium payment determined?

Premium for First Protector Benefits are calculated based on your monthly mortgage payment amount. Emergency Cash and the Service Benefits are each at a flat rate.

Does the premium ever change?

The mortgage payment would have to change considerably for a large increase to occur in the premium payment. If your mortgage payment changes significantly for any reason, call us at 1.800.349.9756, Monday through Friday, 8 a.m. to 5 p.m. ET. We will then determine if your premium should be increased or decreased, based on your monthly mortgage payment.

Do I have to reimburse the mortgage payments paid?

No. First Protector is not a loan, and no benefits paid will need to be reimbursed.
Procedures

Does this policy cover me if I die or become disabled?

No. First Protector supplements your homeowners insurance. It does not pay because of death or disability.

Can I cancel at any time?

Yes. The issued policy/certificate provides cancellation instructions.

When does this insurance expire?

This policy/certificate expires on the date shown on your policy/certificate. It may also be terminated if any premium payment due from you remains unpaid for more than 31 days. If we receive your request to cancel coverage, the policy/certificate will be terminated. If you do not contact us to cancel, First Protector will automatically renew on an annual basis.

When does the policy take effect?

After you enroll, your policy/certificate effective date may be as soon as the next day, if you selected a credit card or checking account payment method. If you were presented with and selected the option for payment through your mortgage company, your policy/certificate typically is effective within 60 days. Please refer to your issued policy/certificate for the exact effective date of coverage.

When will I receive a policy?

You will receive a policy/certificate for your records within approximately 7 business days of your enrollment.