What is an additional insured/loss payee?
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Written on: 03.12.2009 [14:12]
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Amie
Amie
Topic creator
Posts: 3
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I don’t understand the additional insured/loss payee clause on my insurance policy. It names my mortgage lender but I don’t understand why. What does my insurance have to do with my mortgage lender? |
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Written on: 06.12.2009 [13:11]
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Vits
Vits
Posts: 4
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Well your insurance company has to include them on the policy to make sure that if something were to happen to the house ie fire, the mortgage would still be paid off. Otherwise loads of people would set fire to their houses and just take the money and buy a new house. Obviously they want to make sure that this doesn’t happen. |
| Also very interesting: | |
