Insurance on Collateral

 

 

When you obtain any type of collateral loan you are required to maintain insurance on the collateral until it is paid in full. If you are not in the habit of maintaining annual insurance we will force place coverage on your loan. If this is placed on your loan it will be very expensive for you and your loan payments may increased. So please make sure that you maintain adequate insurance for all your collateral loans. (EX: Auto Loan, Boat Loans, Motorcycles, ATV's, RV's, etc..)