What is Force-Placed or Lender-Placed Insurance?
When proof of sufficient insurance coverage has lapsed, been canceled or has not been received, as a last resort, we will obtain coverage on your property through a selected insurance company. Force-placed insurance is almost always more expensive than insurance coverage you can purchase yourself, and it only covers the structure. Personal property is not covered.
When proof of sufficient insurance coverage has lapsed, been canceled or has not been received, as a last resort, National City Mortgage will obtain coverage on your property through a selected insurance company. Force-placed insurance is almost always more expensive than insurance coverage you can purchase yourself, and it only covers the structure. Personal property is not covered. Again, this coverage is a safeguard to protect both your interest and National City Mortgage’s interest in the property should any damage or loss occur.
