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Combine all your lender-placed insurance with one provider
Loan Protector, a leader in lender-placed hazard and flood insurance,
would like to help. The following is a brief description and explanation
of how Loan Protector will facilitate your use of the NFIP. |
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Why use the Loan Protector program?
Since all flood insurance carriers in the National Flood Insurance Program
(NFIP) provide the same product at the same rate, the differences between
carriers are customer service and value-added services. Loan Protector
is known for its excellent customer service. In addition, we are able
to provide the following services for our clients:
- Same-day quotes and application processing
- Standard or life-of-loan Flood Zone
Determinations
- Standard or life-of-loan portfolio audits
- Internet access to your flood insurance information |
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| What is the NFIP? The
National Flood
Insurance Program is charged by FEMA (Federal Emergency Management
Agency) to help reduce flood losses. Until the NFIP, flood insurance was
difficult to find in the private market. Uninsured flood losses were a
large drain on Federal Disaster Relief Funds. The NFIP is a nationally
regulated program that enables a property that is located in a special
Flood Zone to obtain flood insurance.
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| Who underwrites Flood Insurance?
NFIP flood insurance is underwritten by our insurance carriers called
WYO (Write Your Own) companies. All policy terms and conditions, as well
as rates, are the same for all NFIP-underwritten insurance. Obtaining
your flood insurance through Loan Protector helps your borrowers retain
lower rates. |
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- Top 10 Facts Every Lender Needs to Know About the National Flood Insurance Program (NFIP)
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Non NFIP Flood Coverage
Loan Protector is now able to offer flood coverage outside of the NFIP program
if that is more effective for the client. This program is available from
Lloyd's and some domestic insurers. |
