Loan Protector’s hazard insurance protects mortgage lenders and services when a borrower fails to maintain their own property insurance. With coverage written through numerous lender-placed carriers, we offer coverage limits up to $5 million per residential property and $35 million per commercial property. Higher limits may be available with additional underwriting information.
Residential Coverage Highlights:
- All Risk – Special Form Coverage
- Replacement Cost Settlement
- Standalone Wind Coverage is available when wind is excluded from your borrower’s homeowner’s policy
- Vandalism & Malicious Mischief Coverage included
- (Optional) Blanket Condominium Endorsement provides coverage for condos while eliminating the need to track insurance on these loans
- (Optional) Blanket Second Mortgage/HELOC Endorsement provides coverage for second mortgage/HELOC loans while eliminating the need to track insurance on these loans
Commercial Coverage Highlights:
- All Risk – Special Form Coverage
- Replacement Cost Settlement
- Standalone Wind Coverage is available when wind is excluded from your borrower’s commercial property policy
- Vandalism & Malicious Mischief Coverage Included
- TRIA – Terrorism Risk Insurance Act Coverage
- (Optional) Business Income/Loss of Rents
- (Optional) Equipment Breakdown/Boiler & Machinery
- (Optional) Course of Construction/Builders Risk
- (Optional) Increased Cost of Construction