Important Insurance Update for Realtors and Mortgage Lenders
Credit: www.capecodhrg.com Please be advised of some major changes in the insurance world. Waiting until the last minute to set up insurance is never a good idea, even in the best of times. However, because of recent changes in the insurance marketplace , please advise your clients to begin the insurance process i mmediately after the house goes under contract. · Several carriers have suspended operations across entire states . · Other carriers are tightening their underwriting standards and adding additional binding requirements. · These things are prolonging the insurance process. · Please take this into account when scheduling the closing process. I would advise you to plan for the process to take a few extra days. If you or your clients have established relationships with insurance agents, I don’t want to interfere with what is working. However, I am always here to help. And please take 2 minutes to read about five things every real