Simple Insurance Question
Hello all,
How is everyone canceling the previous insurance policy?
I have my new Landlord policy set up, do I just send in my seller signed cancellation letter?
Or, do I have to send in the proof of insurance to the mortgage company before canceling the old policy?
Thanks a million,
Wes
Hey Wes,
I would send in the proof/certificate to the mortgage company first. May save you a lot of trouble with force-placing by the mortgage company. Seems like they never know what their right hand is doing from their left (especially in the insurance areas). Just my 2 cents.
Tim
Tim,
I have read several of your other posts. Thanks for all of the advice.
How would you go about aproaching the mortgage company? Should I just call up as I was an owner and ask where I can fax my new insurance policy?
Thanks a lot,
Wes
That's what I would do. (You ARE the owner)...Can't guarantee it will always be simple, but I think it's better to be pro-active than reactive in this scenario. Tim[ Edited by norrist on Date 04/15/2004 ]
Wes,
I would contact your mortgage company and ask for the fax number of the insurance department. i would then call your insurance agent and ask them to fax a declaration page and a paid receipt to the mortgage company. I would then follow up a few days later to verify they have received it.
Wes:
In addition to the above post I would also send a copy of the policy return reciept requested mail. This way in the event of a screw up on the mortgage company's end you have " Federal Proof" ( U.S. Mail) .
Kerry
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