LENDER PLACED WIND
MAJOR BENEFITS
- Backed by the world’s largest insurance market
- Up to $3 billion in insuring capacity
- Covers losses caused by hurricane, hail, windstorm, wind gusts, tornadoes and cyclones
- Immediate coverage – no waiting period
- Minimal property and loan information required to place coverage
- Coverage can be backdated up to 30 days – giving you up to 90 days of critical interim coverage pending borrower response
- Automatic coverage (subject to eligibility criteria)
- Flexible borrower notification letter cycle
- Blanket coverage available
- Coverage automatically renews
COVERAGE INFORMATION
1-4 Family Residential Properties
- Replacement Cost coverage on building
- No co-insurance requirement
- Debris Removal and Loss Avoidance Measures coverage
- Temporary Housing Expense up to $1,000 per loss
- Mobile home coverage
- Unit Owner loss assessment coverage
- Up to $1,000,000 in building coverage (higher limits available)
- Deductible: The greater of 2% of the coverage amount of $2,000
Commercial Properties
- Replacement Cost coverage on building
- Coverage for commercial condominium units
- Coverage for hotels, motels, retail stores and other business establishments
- No co-insurance requirement
- Up to $1,000,000 in building coverage (higher limits available)
Deductibles
- The greater of 5% of the coverage amount or $5,000 if occupied
- The greater of 5% of the coverage amount or $10,000 if vacant