Lender-Placed Insurance
Protection for lenders or mortgagees in situations where the borrower’s coverage has lapsed or is inadequate.
Lender-Placed Insurance for Landlords
Our Lender-Placed Insurance alternative coverage is designed to protect the interests of lenders or mortgagees in situations where the borrower’s coverage has lapsed or is inadequate. When a property is uninsured or under-insured, it can impede the borrower’s ability to repay the loan after a loss. In the worst-case scenario, the lender may become responsible for repairing damages to the property.
To avoid such situations, Cabana Insurance offers LenderGuard, which helps lenders place property and liability coverage. With this coverage, you can rest assured that your interests as a lender are protected.
To receive a custom proposal, simply provide your property information through our online proposal request. One of our agents will then contact you to review your insurance options and guide you in selecting the most suitable coverage for your needs.
Don’t leave your investments at risk – start your proposal request today and obtain the protection you need with our Lender-Placed Insurance alternative coverage from the National Real Estate Insurance Group.
What does Lender-Placed Insurance cover?
If you opt for lender-placed alternative dwelling coverage, your property can be safeguarded against direct physical damage caused by various incidents such as fire, lightning, windstorm, hail, vandalism, theft, and others. When discussing available choices with our insurance agents, you can select between Basic and Special form coverage.
Lender-Placed
Liability insurance
To safeguard both the owner and lender from potential claims that may arise at the property, Premises Liability coverage is essential. This coverage includes incidents such as slip and fall accidents on the property or tenant injuries caused by carbon monoxide leaks. It also covers pools and spas, as long as they meet the required code. Medical expenses are covered under this policy.
Our liability insurance options start at an affordable rate of $7 per month, per property and offer a $1,000,000 limit of liability per occurrence and $2,000,000 limit of liability in aggregate.
