More Value-Added Advice from Your “Raleigh Real Estate Experts,” The Freeman/Davis Team at Allen Tate Realtors!
Force Placed Coverage
When the bank force place’s a homeowner’s policy they do not take into consideration the individual’s need for replacement cost on the home, liability, personal property, coverage, etc… For example; let’s suppose that someone is purchasing a home that would cost $150,000 to rebuild and the outstanding loan amount at the bank is $50,000. The lender will most likely purchase a $50,000 homeowner’s policy. If the home burns down the loan on their books will be paid off. Needless to say the homeowner is not going to be pleased if this is the outcome.
The Freeman/Davis Home Team at Allen Tate can connect you with Meredith Owen with Allen Tate Insurance. As an independent agent she will design a homeowner’s policy that will meet your individual needs appropriately. After putting together a custom insurance plan, she will shop the market with all of our insurance companies in an effort to find the best coverage for the best premium.
Contact us today for more information. Yes, we’re Raleigh Real Estate agents, but we’re Full Service, meaning that “if is has to to with your home, contact us first for trusted home and realty advice!”
When the bank force place’s a homeowner’s policy they do not take into consideration the individual’s need for replacement cost on the home, liability, personal property, coverage, etc… For example; let’s suppose that someone is purchasing a home that would cost $150,000 to rebuild and the outstanding loan amount at the bank is $50,000. The lender will most likely purchase a $50,000 homeowner’s policy. If the home burns down the loan on their books will be paid off. Needless to say the homeowner is not going to be pleased if this is the outcome.
The Freeman/Davis Home Team at Allen Tate can connect you with Meredith Owen with Allen Tate Insurance. As an independent agent she will design a homeowner’s policy that will meet your individual needs appropriately. After putting together a custom insurance plan, she will shop the market with all of our insurance companies in an effort to find the best coverage for the best premium.
Contact us today for more information. Yes, we’re Raleigh Real Estate agents, but we’re Full Service, meaning that “if is has to to with your home, contact us first for trusted home and realty advice!”