Increased insurance policy default exposes you to uninsured losses. Protect your portfolio today with van Wagenen’s Lender-Placed Insurance (also known as Force-Placed Insurance) and insurance tracking services. We are the industry leader with over 85 years of experience. Contact us today at sales@vanwagenen.com to receive a risk analysis and customized solutions to managing your risk.
Our Lender-Placed Insurance, also known as Force-Placed insurance, includes:
• Immediate coverage with no waiting period.
• Covers losses caused by hurricanes, hail, windstorms, tornadoes, flood and wind gusts.
• Fast, efficient and expert claims processing.
• Decreased losses in your mortgage portfolio.
• Underwriting by an AM Best “A” rated carrier.
Lender Placed Hazard Insurance
The insurance can be supported by our proven insurance tracking capability or without tracking as a stand-alone policy. The van Wagenen team of insurance, technology and compliance experts have what it takes to:
• Meet requirements of wholesale lenders, auditors and regulatory agencies
• Tailor plans for small or large commercial lenders
Available Coverage:
Residential Properties: All-risk dwelling coverage, including vandalism and malicious mischief, plus replacement cost settlement provisions. Optional contents/personal property coverage is available for up to 50% of the building’s value.
Commercial Properties: Named peril coverage, including vandalism and malicious mischief, plus actual cash value loss settlement provisions. Optional endorsements are available for all-risk commercial coverage, replacement cost settlement, and commercial business property coverage for up to 50% of the building’s value.
Lender Placed Flood Insurance
The risk of properties in a special flood hazard area not having adequate flood insurance protection can be expertly mitigated by van Wagenen’s tracking system and lender placed flood insurance coverage. This dual interest policy:
• Provides protection on mortgage property and foreclosed real estate property located in a special Flood Hazard Area or a Coastal Barrier Resource System Area.
• Provides flood protection for residential and commercial properties.
• Requires no underwriting or elevation certificate.
• Assists in achieving compliance with Federal regulatory flood guidelines.
• Includes Increased Cost of Compliance coverage up to $30,000.
Deficiency coverage is also available at partial cost, providing the ability to place “excess” flood insurance on underinsured properties in accordance with GSE or FA guidelines.
Lender Placed Wind Insurance
van Wagenen has the stand-alone wind insurance you need to cover your exposures quickly. Don’t risk another minute without protection. Get the coverage you want while borrowers receive the coverage they need.
• Covers residential and commercial properties
• Offers replacement cost coverage on buildings
