No. Why would they? You are required to have insurance when you have a loan on a property. The insurance rates could actually drop due to lower cost to replace

No. Why would they? You are required to have insurance when you have a loan on a property. The insurance rates could actually drop due to lower cost to replace your house. Underwater property just means you owe more than it is worth. However, if your interest rate is low, you might be paying less than someone who is not underwater.