When getting a loan through rec lending and they need insurance info do they mean the type of policy your gonna be getting or do they expect you to put insurance on it before you get the loan. Any help please. Thank you
When getting a loan through rec lending and they need insurance info do they mean the type of policy your gonna be getting or do they expect you to put insurance on it before you get the loan. Any help please. Thank you
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by wildmanII »</td></tr><tr><td class="quote"> When getting a loan through rec lending and they need insurance info do they mean the type of policy your gonna be getting or do they expect you to put insurance on it before you get the loan. Any help please. Thank you
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Thank you for the question. The insurance requirement is not ours, it is the lenders. The reason it is requred is that in case of a loss (theft, accident) the banks want to know they will get thier money. Part of a loan package is a form called "agreement to provide insurance" and it needs to be completed and signed before the contract funds. Also, in todays sue happy world, even without having a loan, having insurance seems to be a really good idea.
Let us know how we can help,
Ken, Todd & Chris
Modified by reclending.com at 9:24 AM 9/21/2010
There is a good insurance guy here on BBC. Contact Bob at World Wide, those guys do a nice job with bass boaters. Tell Bob you got his name from us.
Thank you,
Ken, Todd & Chris
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