Fire and hazard insurance on your property comes in many shapes and types of coverage. It is up to you to shop around for the package that best suits your needs. You will then tell the escrow company who your agent and carrier are.

Your lender will require certain minimum coverage and will need to be named as additional insured on your policy; that is, if there is a problem (damage, injury, etc.), the insurance company will cover the lender as well. Your insurance agent will get the lender's requirements and deliver to the escrow officer a certificate of insurance showing the coverage and other details of your policy.