Update your insurance
Keep us informed - keep you covered.
In addition to protecting your property, most insurance policies include clauses that also protects your lender. Because TLC has a financial interest in your home or auto loan it is required that you have sufficient coverage and that TLC is listed on your insurance policies. This is true for all titled collateral until the loan is fully paid.
Usually this is set up when the loan is made. However, you may need to update this if you change insurance companies or if you let your insurance lapse. If you don't have proper insurance, you risk having insurance force-placed which would be added to your loan. Luckily, updating it is easy!
Update your consumer loan insurance policies
Update your home loan policies