December 10, 2024
Why Mortgagee Changes Require Your Immediate Attention
As a homeowner, you may not realize that when your mortgage is sold or transferred to another company, your insurance provider doesn’t automatically get notified. This can lead to complications if important details are missed or payments are overlooked. At Brenda Heulitt Agency LLC, we want to make sure you avoid unnecessary headaches when changes happen with your mortgage. Keeping us informed ensures your coverage stays intact and up to date.
We Can’t Help If We Don’t Know
Many homeowners assume that when their mortgage is sold, the new mortgagee will handle the transfer of all related documents, including insurance. However, that’s not always the case. Mortgage companies typically don’t notify insurance agencies directly. If we don’t know about the change, we can’t update your records to reflect the new mortgagee, which could lead to serious issues like missed premium payments. Unfortunately, many carriers are no longer reinstating policies after lapses caused by these missed payments. That’s why it's crucial for you to notify us about any mortgage changes promptly.
More Than Just Your Mortgage: Keeping Us Informed About Property Updates
Your insurance policy is designed to protect your home as it stands, but what happens if you’ve made significant changes? Any property updates—whether it’s adding new living space, installing a pool, or even acquiring valuable items like jewelry—need to be communicated to your insurance provider. These changes can affect your coverage needs, and without updating your policy, you could be left underinsured in the event of a loss. Even fun additions like trampolines or playground equipment can impact your policy, so it's best to let us know as soon as these updates are made.
Take Action Today
To avoid lapses in coverage or inadequate protection, it’s essential to keep your insurance updated. Whether your mortgage has been sold or you’ve made changes to your property, we’re here to help you navigate the details and ensure your coverage fits your current needs.
Contact Brenda Heulitt Agency LLC
to update us on any changes and safeguard your home and assets effectively.