Force Placed Insurance
As a lender, force placed insurance from National Real Estate Insurance Group will protect you if a borrower does not meet property insurance standards.
A force placed insurance policy is designed to protect lenders if a borrower’s insurance policy lapses. The lender will take out the policy but the expenses are passed along to the borrower. National Real Estate Insurance Group writes forced place insurance for lenders in the real estate market across the country. The most common type of forced place insurance we supply is lender placed hazard insurance, which protects the interest of the lender in the event of a direct physical loss or damage to real properties in which an interest is held.
For many reasons, uninsured/underinsured homes and mortgages are simply an unacceptable risk. As a lender, uninsured losses can devastate your bottom line. National Real Estate Insurance Group can help you alleviate that risk with a forced place insurance policy. Lender placed hazard insurance is a fundamental risk management tool for any lender with exposure to uninsured or underinsured real estate losses. If a mortgagor’s insurance lapses, a force placed insurance policy is often the only way to guarantee continued protection.
A force placed insurance plan from National Real Estate Insurance Group can offer the following benefits to lenders across the country:
- Immediate coverage of vacant and uninsured properties
- Fast and reliable claims service
- No policy cancellation without prior notification to lender
- Simplified accounting and refunds
- Liability Coverage
National Real Estate Insurance Group is the leading expert on real estate risk management solutions for lenders and investors alike. The most effective way to ensure your investment is sufficiently protected is to team with us. Give us a call today at 800-900-5324 or fill out our online form to learn more about our forced place insurance services.