Partners Insurance Agency Blog: forced-placed insurance
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Friday, March 1, 2019Your Mortgage, Your Homeowners Insurance and Forced Placed Coverage When you take out a mortgage, part of the agreement is that you will purchase adequate homeowners insurance coverage. Adequate coverage usually means that you are insured for the replacement of your home to 100% of replacement value or that your home has enough coverage to address the amount of the loan. READ MORE >>
Friday, March 16, 2018Force-Placed Insurance and What it Means for Homeowners? Mortgage lenders require borrowers to carry insurance on their properties. They do this so they will be repaid if fire, windstorm or some other disaster damages the property. If the borrower does not comply, the lender has the right to buy a policy and pass the cost on to the borrower. READ MORE >>
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