Simply Explaining Insurance #142- Forced Placed Insurance

When you take any sort of loan out for a home or a car, it’s up to you the client, to make sure it’s insured properly. It’s buried deep in the paperwork that you sign. Also buried in the contract, is the right for the bank to insure it properly if you don’t. They will put their own policy in place if you don’t hold up your end of the bargain.

This episode explains how this works.