COMPARE YOUR INSURANCE
LOAN LANGUAGE for “DEDUCTIBLE” PERCENTAGE AMOUNTS !
From “Trade Only Today”
... “Two major insurance
underwriters have announced they will increase named-storm deductibles from the common 2 percent to as high as 5 percent
Jan. 1, says NMBA. Other insurers are expected to follow.
The problem, Parkhurst said, is that “Many banks have a 2-percent
insurance deductible maximum in their notes. So, banks will need to begin the process at once to update this provision, and service
companies will need to reprogram details of their documentation
preparation systems.” ...