For unique coverage such as Force Place Property and Mortgage Protection, R.B. Jones has you covered.

Force Place Property

Force Place Property is for lending institutions. It offers direct property coverage for locations in which the lending institution knows the borrower is no longer carrying insurance, where it feels the borrower is carrying inadequate amount of insurance or where the lending institution has simply foreclosed.

Coverage Available:

• Either on an AIl Risk Basis (Excluding Flood and Earthquake) or All Risk (Including Flood and Earthquake).
• The policy is set up so the lending institution has a blanket policy listing property locations on a basic reporting form (form is submitted monthly, showing the limit desired, or each property).
• Overall basic limit is $1 million (higher limits of $5 million are available) Deductibles are provided separately for residential and commercial properties
• The policy is set up with a minimum and deposit premium and once the insured has exhausted this deposit, they are then billed monthly for premiums thereafter during the policy term.
• Coverage is available on a 12-month basis and underwriters set the rating structure. The rates made available to the lending institution are quite competitive with other similar markets offering this type of coverage.
• Rates are available separately for residential property (occupied and unoccupied) and commercial property (occupied or vacant).

Information to Quote

Complete the two page application form and a list of properties that are in need of coverage. The list should consist of the full address, limit desired and the type of property (residential or commercial and whether it's occupied or vacant).

Mortgage Protection

The R.B. Jones mortgage protection plan is the broadest approach to All Risk Mortgage Protection for owned loans as well as those serviced by the insured for others. Our plan eliminates the need to check the borrower's insurance after closing. It also substantially reduces the costs incurred by your client in maintaining a full policy checking department after closing.

Coverage Highlights:

• Policy type:
• Complete All Risk coverage against the non-existence of insurance, which is vastly superior to the simple E&O form that requires policy checking.
• Unique Features:
• Provides coverage for all perils including Flood and Earthquake in addition to many liability exposures.
• Coverage also may be extended to include foreclosed property on a continuous and unlimited basis with no loan reporting provisions required.

Information to Quote

The approximate number of loans and loan balance, subject to completion of the Mortgage Impairment Application.

Note: In order to obtain a premium quotation from R.B. Jones, you must be a qualified producer. To be considered as a producer, please complete and return the Producer Agreement packet. For more information, contact us at producerinfo@rbjonesinsurance.com.