What is forceplaced coverage?
Forceplaced insurance is insurance coverage purchased by a mortgage servicing company to protect the mortgage servicing company against risk of damage to your property serving as collateral for your mortgage. Forceplaced coverage is necessary because a mortgage servicing company does not have proof that you have an active, valid insurance policy covering the property. Reasons for this could be your mortgage servicing company did not receive a copy of your insurance policy from a company other than Best Insurors or Best Insurors did not receive payment to continue your policy with Best. Forceplaced insurance is purchased as a result of a homeowner’s failure to provide evidence of insurance coverage on the home as required by the contract documents. The cost of forceplaced coverage is initially paid by the mortgage servicing company, but it is wholly the responsibility of the homeowner to pay for the coverage. If your insurance coverage is forceplaced, you will ultimately be paying the p
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