Buying a home: insure the mortgage the smart way
Say no to the reflexive mortgage-insurance checkbox until you've compared it to personal term, and get the home policy right from day one.
Buying a home is a natural moment to get your coverage right — and to avoid one common, expensive default.
- Say no to the reflexive "mortgage insurance" checkbox at the bank until you've compared it to personal term. Personal term is usually cheaper, doesn't shrink, pays your family (not the lender), and is portable. Run Mortgage Life vs Term.
- Buy or update life insurance to at least cover the mortgage — a term ladder can match coverage to the payoff schedule (Term Ladder Builder).
- Get the home policy right from day one: rebuild cost (not purchase price), and the endorsements that matter — overland flood, sewer backup (raise the cap), and earthquake where relevant. See Home insurance gaps.
- Coordinate with affordability: if you came from The Mortgage Beast, your principal, rate, and amortization carry into our mortgage-insurance tool.
Educational only — not insurance advice, and no products are sold here. Robert is a mascot, not a licensed advisor. See our disclaimer.