Protect Your Home
Protect Your Investment
For secured personal funding using property as collateral, having adequate home and property insurance is crucial. We guide you to policies that cover damages, natural disasters, and liability.
Why Home Insurance is Essential
When you use your property as collateral for secured funding, insurance protects both you and the lender.
Home insurance is often required as part of secured funding agreements using property as collateral. It ensures that if your home is damaged by fire, storms, or other covered events, the remaining funding balance can be protected — preventing you from paying for a property that's lost value.
We partner with trusted insurers to offer competitive rates, comprehensive coverage, and seamless integration with your funding payments.
- ✓ Required for most secured property funding agreements
- ✓ Covers structural damage, theft, and liability
- ✓ Protects your equity and credit standing
- ✓ Easy bundling with your monthly funding payment
Coverage Options We Offer
Choose the protection level that fits your home and budget.
*Minimum dwelling coverage equal to property value required for secured funding agreements.
How Home Insurance Works With Your Secured Funding
Apply for Secured Funding
Start your property-backed funding application with BRICS Mutual Benefit.
Get Insurance Quote
We'll provide quotes from our trusted home insurance partners.
Choose Your Coverage
Select the policy that meets lender requirements and your needs.
Bundle Payments
Insurance premium can be added to your monthly funding payment.
Benefits of Home Insurance Through BRICS
Competitive Rates
Group rates negotiated with multiple insurers to save you money.
Simple Application
One application for both funding and insurance. No duplicate paperwork.
Seamless Claims
We help coordinate claims so your funding remains in good standing.
Dedicated Support
One point of contact for both your funding and insurance questions.
Frequently Asked Questions
Is home insurance required for secured property funding?
Yes. Most secured funding agreements using property as collateral require adequate home insurance to protect the lender's interest. We'll help you meet these requirements.
Can I use my existing home insurance?
Yes, as long as it meets our minimum coverage requirements (dwelling coverage equal to property value). We'll need proof of insurance before funding disbursement.
What is the difference between replacement cost and actual cash value?
Replacement cost pays to rebuild/repair your home at current prices. Actual cash value deducts depreciation. Replacement cost is strongly recommended for secured funding.
How much does home insurance cost?
Costs vary based on home value, location, age, and coverage level. Most clients pay between $50 - $150 per month for standard coverage. We'll help you compare quotes.
What happens if my home is damaged or destroyed?
Your insurance pays for repairs or rebuild. We work with you and the insurer to ensure your funding remains current during the restoration process.
Home Insurance Comparison
| Coverage Type | What It Covers | Required for Secured Funding? |
|---|---|---|
| Dwelling Coverage | Home structure (walls, roof, foundation) | ✓ Yes (full replacement cost) |
| Other Structures | Garage, shed, fence | ⚠️ Recommended |
| Personal Property | Furniture, electronics, clothing | ⚠️ Recommended |
| Loss of Use | Additional living expenses | ⚠️ Recommended |
| Liability Protection | Injury/legal costs on property | ⚠️ Recommended |
| Flood/Earthquake | Specific natural disasters | ❌ Optional (based on location) |
Save on Home Insurance
Ready to Protect Your Home?
Get a free home insurance quote today. We'll help you find the right coverage to protect your biggest asset.
✔ Compare multiple quotes • ✔ Bundle with funding • ✔ Easy claims process