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COO - Child of Owner
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- Sep 2005
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- 15,326
August 2nd, 2012 06:15 PM #11di naman masyadong malaki to.. required talaga yang MRI and Fire Insurance kahit sa pag-ibig..
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Running on Empty...
- Join Date
- Oct 2002
- Posts
- 17,339
August 2nd, 2012 06:27 PM #12Yep, it's required since you have to protect the property mortgaged. Hindi naman kamahalan as compared to car insurance from what i know.
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Tsikoteer
- Join Date
- Oct 2002
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- 10,820
August 2nd, 2012 09:38 PM #13yes, the banks will require fire/flood/aoG insurance plus MRI. the MRI is both for the bank's and your family's protection. should something happen to you (the bread winner) then the mortgage is paid up by the insurance, the bank does not lose money, and more importantly your family keeps the house.
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Tsikoteer
- Join Date
- Nov 2008
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- 2,421
August 3rd, 2012 11:10 AM #14I was assuming that the insurance and the MRI has the same amount or much more, compare to the car insurance...
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COO - Child of Owner
- Join Date
- Sep 2005
- Posts
- 15,326
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Choice I would have made as well.:nod:
2024 Innova Zenix 2.0 V CVT (non-HEV) vs Innova...