Did you know if you have a partner family who lets their Homeowners Insurance lapse or is unable to get a Homeowner’s policy, and you (the affiliate) hold the mortgage, you can purchase a Mortgage Hazard policy to protect the affiliate’s interest in the property?
We offer a program, through Kistler Financial Insurance Group, to provide Mortgage Hazard Insurance policies for affiliates, at very competitive rates.
The program allows 45 days of cost-free coverage while you notify the homeowner of their need to provide insurance. If coverage is provided by the homeowner during the first 45 days, no premium is charged. If coverage is not provided, an annual policy is issued, typically for the outstanding value of the loan, but can be purchased for full replacement cost.
To learn more about this Force-placed Insurance and how this coverage can help protect your affiliate, please contact our office at (888) 553-9002.