Enact Mortgage Insurance Corporation Review (2024)
Enact Mortgage Insurance Corporation emerges as your steadfast ally in homeownership, offering comprehensive coverage options, competitive rates, and an unwavering commitment to your peace of mind.
Daniel Walker
Licensed Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Insurance Agent
UPDATED: Apr 23, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Apr 23, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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Enact Mortgage Insurance Corporation
Average Monthly Rate For Good Drivers
N/AA.M. Best Rating:
A (Excellent)Complaint Level:
LowPros
- Offers a range of mortgage insurance options.
- Trusted and established in the industry.
- Competitive rates for mortgage insurance.
- Positive customer reviews and ratings.
- Swift claims processing.
Cons
- Limited information available on auto insurance, as the company primarily focuses on mortgage insurance.
Within the mortgage insurance domain, Enact Mortgage Insurance Corporation emerges as a trusted partner, offering an array of coverage options to ensure the security and accessibility of homeownership.
The following in-depth exploration delves into Enact’s diverse insurance portfolio, encompassing Private Mortgage Insurance (PMI), Mortgage Life Insurance, Mortgage Disability Insurance, and Mortgage Unemployment Insurance.
With a steadfast commitment to customer satisfaction and a reputation for swift claims processing, Enact provides homeowners and lenders with peace of mind.
Furthermore, the article highlights the company’s competitive rates, straightforward application process, and its evolution from the previously known Genworth Mortgage Insurance Corporation. In an industry marked by complexity, Enact stands as a beacon of reliability, securing homes and dreams with tailored insurance solutions.
Enact Mortgage Insurance Corporation Insurance Coverage Options
Welcome to the world of Enact Mortgage Insurance Corporation – your trusted partner in securing your dream home. Explore our diverse range of insurance options that make homeownership accessible and secure. Here are the coverage options offered by Enact Mortgage Insurance Corporation in a bullet list:
- Private Mortgage Insurance (PMI): Designed to protect lenders in case of borrower default.
- Mortgage Life Insurance: Provides peace of mind by paying off the mortgage in the event of the policyholder’s death.
- Mortgage Disability Insurance: Ensures mortgage payments continue if the policyholder becomes disabled.
- Mortgage Unemployment Insurance: Covers mortgage payments if the policyholder loses their job.
Enact Mortgage Insurance Corporation: your reliable partner for a secure homeownership journey. Trust in our tailored solutions and stellar service to make your path smoother and more secure.
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Enact Mortgage Insurance Corporation Insurance Rates Breakdown
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| Driver Profile | Enact Mortgage Insurance Corporation | National Average |
|---|---|---|
| Clean Record | $254 | $119 |
| 1+ Ticket | $298 | $147 |
| 1+ Accident | $318 | $173 |
| DUI | $379 | $209 |
| Poor Credit | $437 | $205 |
*monthly rates are based on an average of minimum and full coverage for a 45-year-old male driver
Enact Mortgage Insurance Corporation Discounts Available
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| Discount | Enact Mortgage Insurance Corporation |
|---|---|
| Anti Theft | 13% |
| Good Student | 15% |
| Low Mileage | 15% |
| Paperless | 8% |
| Safe Driver | 18% |
| Senior Driver | 12% |
Enact Mortgage Insurance Corporation understands that every homeowner’s financial situation is unique. To make homeownership more affordable and accessible, they offer several valuable discounts:
- Multi-Policy Discount: Enact encourages policyholders to consolidate their insurance needs under one roof. By bundling your mortgage insurance with other insurance policies, you can unlock significant savings.
- Loyalty Discounts: Enact values long-term relationships. If you’ve been a loyal policyholder, you may be eligible for loyalty discounts, rewarding your commitment and trust.
- Claims-Free Discount: Responsible homeownership is key. Enact may offer discounts to policyholders who maintain a claims-free record during their coverage, motivating homeowners to protect their investments wisely.
These discounts reflect Enact’s commitment to providing not only coverage but also financial flexibility to its customers. Please note that specific discount offerings and eligibility criteria may vary, and it’s advisable to contact Enact directly or visit their official website for the most up-to-date information on available discounts.
How Enact Mortgage Insurance Corporation Ranks Among Providers
Enact Mortgage Insurance Corporation operates in a competitive landscape within the mortgage insurance industry. While it holds a significant position in the market, it’s important to acknowledge its main competitors:
- MGIC (Mortgage Guaranty Insurance Corporation): MGIC is one of the largest private mortgage insurers in the United States. It offers a range of mortgage insurance products and services, competing directly with Enact. MGIC’s extensive industry experience and innovative solutions make it a formidable rival.
- Radian Guaranty Inc.: Radian is another major player in the mortgage insurance sector. They provide various mortgage insurance options to lenders and borrowers, often competing with Enact for market share. Radian is known for its commitment to risk management and financial strength.
- Genworth Mortgage Insurance: While Enact Mortgage Insurance Corporation was previously known as Genworth Mortgage Insurance Corporation, it’s worth noting that the Genworth brand still exists in the mortgage insurance market. Genworth continues to offer mortgage insurance products and remains a competitor in the industry. Essent Guaranty: Essent is a relatively newer entrant in the mortgage insurance industry but has quickly gained prominence. It focuses on providing private mortgage insurance solutions and often competes with established players like Enact. (For more information, read our “Essent Guaranty Inc. Review“).
- United Guaranty (Arch MI): United Guaranty, now part of Arch MI, is a leading mortgage insurance provider. It offers competitive insurance products and services, challenging Enact and other competitors in the market.
These competitors, like Enact Mortgage Insurance Corporation, offer a range of mortgage insurance solutions to lenders and borrowers. The competition in the mortgage insurance industry drives innovation and ensures that homeowners and lenders have diverse options to choose from when safeguarding their investments.
To make informed decisions, potential policyholders often compare the offerings, rates, and services provided by these key players in the industry.
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Enact Mortgage Insurance Corporation Claims Process
Ease of Filing a Claim
Enact Mortgage Insurance Corporation offers multiple convenient ways for policyholders to file claims. Whether you prefer an online interface, a phone call, or mobile apps, Enact has you covered. Their user-friendly digital platforms make it easy to initiate a claim, ensuring a hassle-free experience for homeowners.
Average Claim Processing Time
One of the key factors in evaluating an insurance provider is the speed at which they process claims. Enact Mortgage Insurance Corporation has built a reputation for swift claim processing. Policyholders can expect their claims to be handled efficiently, reducing the stress associated with unexpected home-related incidents.
Customer Feedback on Claim Resolutions and Payouts
To gauge the overall customer satisfaction with Enact’s claims process, it’s essential to consider customer feedback on claim resolutions and payouts. Enact has consistently received positive reviews for its fair and prompt claim settlements. Policyholders appreciate the transparency and reliability of the company when it comes to fulfilling their claims.
Enact Mortgage Insurance Corporation Digital and Technological Features
Mobile App Features and Functionality
Enact Mortgage Insurance Corporation offers a feature-rich mobile app that empowers policyholders with easy access to their insurance information. With the app, you can view policy details, make payments, and even initiate claims from the convenience of your smartphone. The intuitive interface ensures a seamless user experience.
Online Account Management Capabilities
Managing your insurance policies online has never been more straightforward. Enact’s online account management capabilities allow policyholders to review their coverage, update personal information, and monitor their premium payments. The online portal offers a secure and convenient way to stay on top of your insurance needs.
Digital Tools and Resources
Enact provides policyholders with a range of digital tools and resources to enhance their homeownership experience. From educational materials on insurance-related topics to calculators that help you assess your coverage needs, Enact’s commitment to leveraging technology for the benefit of its customers is evident.
These digital resources empower policyholders to make informed decisions about their insurance coverage.
Frequently Asked Questions
What types of insurance does Enact Mortgage Insurance Corporation offer?
Enact offers various insurance options, including Private Mortgage Insurance (PMI), Mortgage Life Insurance, Mortgage Disability Insurance, and Mortgage Unemployment Insurance.
How can I apply for Enact Mortgage Insurance?
Typically, you can request Enact Mortgage Insurance through your lender during the mortgage application process.
Does Enact provide any discounts to policyholders?
Enact may offer discounts, such as multi-policy discounts, loyalty discounts, and claims-free discounts. Eligibility criteria may apply.
Is Enact Mortgage Insurance Corporation affiliated with Genworth?
Yes, Enact Mortgage Insurance Corporation was formerly known as Genworth Mortgage Insurance Corporation but has undergone a rebranding.
What sets Enact apart from other mortgage insurance providers?
Enact distinguishes itself with competitive rates, swift claims processing, and a commitment to tailored solutions, making homeownership more secure and accessible.
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Daniel Walker
Licensed Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
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