Mortgage and Loan Changes

April 4, 2012 at 9:12 AM | Posted in Auto, Home, Insurance Policy, Motorcycle, Personal Insurance | Leave a comment
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Did you realize that, when you pay off your mortgage or vehicle loan, the banks rarely notify your insurance agent? In addition, banks sell loans to other banks and don’t provide insurance agents and companies with the new bank information to update your policy.

If your bank information changes in any way, please be sure to contact your customer service representative to update your policy. Taking this step will help ensure that your lender receives a copy of your policy. It will also help avoid a claim check being issued to both you and the bank in the event of a loss.

Review your policy to make sure your information is accurate.


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