Forced Placed Blanket Fire Coverage: Coverage for real estate loans with lapsed property and casualty coverage or on foreclosed and REO properties.
Benefits of Coverage:
- Improves control of exposure on real estate.
- Requires no up-front costs or minimum premium.
- Pays premium refunds if proof of coverage supplied.
- Convenient billing system, monthly or annually.
- Offers optional liability coverage.
- Reduces insurance administration costs.
Flood Insurance: Flood insurance coverage for real estate loans requiring flood coverage.
Benefits of coverage:
- Offers forced placed options for loans requiring flood coverage.
- Assists with compliance of flood insurance.
- Offers optional flood determination services.
Insurance Tracking/Verifying continuous Coverage:
Benefits of Tracking:
- By outsourcing your tracking to us, we take over the administration of this critical task.
- Tracking insurance to ascertain that policies remain in force has become a major part of lenders' administration efforts.
- Renewal notices, cancellation notices, payment notices, mortgagee changes all need to be monitored.
- Tracking allows the financial institution to protect its collateral.
Lenders Single Interest (VSI): Coverage for collateral that is repossessed and damaged.
Benefits of Coverage:
- Saves time by reducing insurance administration costs.
- Offers optional coverage to insure existing loans.
- Offers "GAP" coverage on new car loans.
- Requires no insurance tracking or follow-up.
DeLong Associates has earned the trust of our Connecticut-based clients by serving as an INDEPENDENT agency that provides beneficial programs, integrity, and a level of service that is hard to find in today's marketplace.