Lender Placed Hazard Insurance

 

houseLender placed hazard insurance is a fundamental risk management tool for any lender with substantial exposure to uninsured real estate losses. When a mortgagor’s insurance lapses, a lender placed hazard insurance policy is often the only way to guarantee continued protection against the most common insurable perils. Berkshire’s Forced Placed Mortgage Insurance program may be combined with full service insurance tracking for a seamless risk management solution, or coverage may be ordered by the lender as needed.

Most properties are insurable, including:

  • 1-4 Family Residential dwellings
  • Commercial buildings
  • Multifamily residential
  • Mobile homes
  • Foreclosed properties/REO

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Highlights

  • Per property limits up to $10 million
  • Many coverage extensions and enhancements to meet lender’s specific insurance needs
  • Many deductible options
  • Monthly or annual premiums