Additional Information
Many homeowners are NOT aware of the limitations of their homeowner's policy. For instance, it may not pay your monthly mortgage payment if your home is damaged or destroyed by a disaster.1 In other words, even if you are unable to live in your home,2 YOU are still responsible for paying your monthly mortgage.
Please check your homeowner's policy to see if your mortgage payment is protected. If not, take corrective action immediately by enrolling in the Disaster Recovery PlanSM. Here's a look at how this affordable insurance plan protects you in ways that your homeowner's insurance may not:
| Benefit |
Disaster Recovery Plan |
Most Homeowners Insurance |
| Pays your monthly mortgage payments for up to two years |
Yes |
Check your policy |
| Pays the balance on your mortgage if your home is permanently uninhabitable due to a disaster after any other applicable insurance is applied3 |
Yes |
Check your policy |
| Pays your homeowners policy deductible up to twice a year, with a maximum benefit of $1,0004 |
Yes |
No |
Think about it: if you're not able to live in your home, you are still obligated to pay your monthly mortgage payment. The reality is — more than likely — your homeowners insurance will not cover your mortgage payment.
We advise you to give this opportunity your consideration. If you have any questions, call ACE's toll-free number: 1-800-234-7354. Knowledgeable representatives will do an excellent job of clearly explaining the benefits of this important insurance coverage.
1. Limitations: With DRP, any natural or household disaster that causes damage to the structure of your home is covered except for the following: war; events affecting or causing allergies; constant or intermittent noise; pollution/contamination; normal wear & tear and/or deterioration; settling, shrinking, bulging or expansion; riot; neglect; vandalism (if residence is unoccupied more than 60 days); interruption of power from off-premises source; pre-existing conditions; intentional loss; seizure, destruction, or confiscation by any governmental or public authority; faulty, inadequate or defective work or repairs.
2. Coverage applies to primary residences only. Rental properties, mobile homes and manufactured homes are not eligible for coverage.
3. Up to a maximum of $250,000 or your current loan balance, whichever is less. Permanently uninhabitable coverage is excess insurance meaning any other insurance that can be applied to pay off the mortgage will be used first. Permanently uninhabitable coverage only applies in the event of condemnation of the land or movement of the land on which your property exists which permanently prohibits repair or reconstruction.
4. Actual benefit amount is based upon your homeowners policy deductible when a disaster forces you from your home for 48 hours or longer.
Customer Testimonials
"ACE helped me out during Katrina and I appreciate it. It was a lifesaver. I only had my house for less than three years and being out of my house that long and paying for a place to stay was incredible. Having ACE was big help because they picked up where my insurance left off."
LOUISE A - GRETNA, LA
"I had a claim because a water pipe busted. I had to replace the carpet and the pipe. In order to replace the pipe I had to tear out the wall. It was damage of several thousand dollars. ACE paid my deductible without any question and very quickly. The customer service was good too."
SAMUEL S - TAMPA, FL
"I have been highly impressed with the people that represent ACE and truly satisfied. I live in Florida and have been since I graduated college, so I know a lot about hurricanes and the need for insurance against hurricanes. ACE has come to my rescue on more than one occasion. ACE is prompt and professional and I would recommend ACE to anyone who needs extra protection for his or her home."
ELAINE S - NORTH MIAMI, FL
"We had a big windstorm one night, and it threw a boat across the yard. We heard a loud noise, and a big tree had fallen. It broke our fence, knocked the rest of it down, and split the boat in two. It also pushed our brick patio 6 inches sideways. It tore part of our roof off. It broke a water line. ACE responded very quickly, and we were very pleased. I called them up, and they sent someone out in just a couple of days. We had no problems dealing with the representative, he was very good. I would highly recommend ACE to anyone."
ORRIN T - DALLAS, OR
