Lee & Mason Financial Services, Inc.

Guaranteed-Issue Physical Damage - physical damage coverage written at the inception of the loan, protecting the lender's and the borrower's interest in loan collateral.

Features

Voluntary coverage: Borrower elects coverage in lieu of providing evidence of physical damage insurance
May be written Single or Modified Dual Interest (limited borrower protection)
Renewable coverage written for any term: Monthly, Annual or Remaining Term of the loan.
Simple rating methods: flat monthly amount or percentage of the loan balance
All borrowers qualify for coverage, regardless of credit or driving history
Deductible options; with $500 per claim as standard
Quick and easy coverage enrollment via website

Benefits

Speeds up the loan approval process and funding
Insures physical damage protection in place at outset of the loan
Reduces the portfolio’s uninsured loans and uninsured collateral loss write-offs
Borrower pays for coverage; not the lender
Can be combined with Blanket Single Interest or Tracking & Force-Placed Coverage

Downloads for this product

Product Summary Brochure

Proposal Request Form