THE National Housing Trust (NHT) is advising mortgagors that they will continue to pay the existing peril insurance premium for the upcoming period, September 1, 2026 to August 31, 2027.

Manager for the Loan Portfolio Management Unit within the NHT, Leighton Taylor said the peril insurance premium is already included in the total mortgage payment.

“Your peril insurance premiums will remain the same despite the massive hurricane that hit our island last year and the increased costs of construction. We won’t be sending out written notifications so if you want information on this and on your mortgage and loans you can always visit NHT Online and find that information available to you, at your discretion,” he said.

Taylor was speaking at a recent JIS Think Tank at the agency’s Television Department, 5-9 South Odeon Avenue in Kingston.

The NHT provides peril insurance to protect properties against events such as natural disasters, fire, theft, and civil unrest.

For non-strata homeowners, they will benefit from increased coverage under their peril insurance arrangement.

“Coverage is the cost to replace what you have. [It takes into account] the price of inputs, labour, cement… so the NHT is keeping your insurance coverage in tandem with the changing environment in terms of the cost of construction. You are not disadvantaged should you, unfortunately, have an event where you need to make a claim, so we are keeping the coverage current,” he said.

Each year, the NHT and its insurers review coverage and rates and update replacement values to reflect current construction costs.

Meanwhile, the customary annual peril insurance letter, which outlines the annual peril insurance premiums and property coverage for individuals, will not be issued.

After September 1 mortgagors will be able to check NHT Online to view their updated coverage information once the renewal has been processed and the information is accurately reflected on the system.

Manager of corporate communications and public affairs at the NHT Danielle Edwards, who also spoke at the JIS Think Tank, said this is part of the continuous push to increase the use of the platform.

“We are not going to be sending out individual correspondence; you can check your coverage status on NHT Online. A lot of our supplementary services are online — getting a loan statement, applying for your refunds, and submitting your queries can all be done through NHT Online,” she said.

For more information persons can call 876-929-6500, visit
nht.gov.jm, or visit the nearest NHT branch.

— JIS News