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Contact Us: (785)271-2300, Toll Free (800)777-1513, Fax (785)271-2341, kfp@colinsgrp.com |
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BILL THE MORTGAGEES |
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If the mortgage company is responsible for paying the insurance premium, the policy can be set up to bill the mortgagee direct. This must be indicated on the application or requested in writing if the application has already been submitted.
Invoices will be mailed to the mortgage company and any applicable return premium checks will be made payable to them.
The insured may need to submit the required premium with the application if coverage is needed before the mortgage company is billed. The mortgage company cannot be billed until after the inspection of the property is completed, and the property is accepted by the FAIR Plan. Normally, this process takes up to 60 days.
Under no circumstances will coverage be bound until the application is accepted and the required premium is received in the FAIR Plan office. |
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