If you have force placed insurance and need cheaper insurance, get a quote!
If you need force placed insurance, see below for more details.
Heritage Insurance provides cheap homeowners insurance for Mobile and Baldwin County!
What Is Force Placed Insurance?
Force Placed Insurance is also known as lender-placed, creditor-placed, or collateral protection insurance. Insurance is “force placed” when a lender buys insurance for their borrower. After buying the insurance, the borrower must pay the lender back. Unfortunately, the lender may not buy cheap house insurance.
How Did My Home Get Force Placed Insurance?
Here are a few reasons why you have force placed insurance:
- You don’t have homeowners insurance. Either you didn’t buy it, or it was canceled. If your insurance was canceled, call your insurance agent and ask why. If you don’t have insurance, call 251-945-6666 and request a quote! You can replace force placed insurance with our cheaper insurance!
- The lender didn’t receive proof of insurance. If you have insurance, request your insurance company send a declaration of insurance (aka Dec Page) to your lender. When the lender receives it, they should cancel the force placed insurance and you should expect a refund.
- Your homeowner’s policy doesn’t provide enough coverage. Your lender received a certified appraisal that says it costs more to rebuild your home than your insurance covers it for. They probably tried to contact you, but failed to reach you. If you are satisfied with your force placed insurance, you should cancel your other insurance. Otherwise, do this: First, call your lender and ask how much your home must be covered for. Next, call your insurance agent and request more coverage. Finally, pay the difference, get a Dec page from your agent, send the lender the dec page, and request the force placed insurance to be cancelled.
Insurance for Lenders in Alabama
If you are a lender that needs force placed insurance in Southern Alabama, you’ve come to the right place. Heritage Insurance of Alabama can provide:
- Tenanted or landlord insurance
- Flood insurance
- Wind Insurance
- Vacant house Insurance
If your home has foreclosed, been repossessed, or had bankruptcy, contact Heritage Insurance for a quote! 251-945-6666