Insurance Policy

What is Force-Placed Insurance?

What is Forced-Place Insurance?

By Mario E. Lopez, Esq. Most people use lenders, or mortgage servicers, to secure mortgages when purchasing a home. In mortgage contracts, there are generally provisions that require borrowers to maintain property insurance on their homes. Force-placed insurance, also known as creditor-placed, lender-placed or collateral protection insurance is an insurance policy placed by a lender,…

Read More

What is a Proof of Loss?

By Wesley J. Farrell, Esq.  After a loss, an insurance company will sometimes request that you complete and sign a form called a Proof of Loss. A proof of loss is a statement of the amount of money being requested in your insurance claim and it must be signed and notarized. A Proof of Loss is…

Read More

Understanding Different Types of Homeowners Insurance Policies

By Jesmany Jomarron, Esq. Homeowners coverage provides financial protection against loss due to disasters, theft and accidents. Most standard policies include four essential types of coverage: Coverage for the structure of your home; Coverage for your personal belongings; Liability protection; and Coverage for Additional Living Expenses. Depending on your home and which insurer you choose,…

Read More