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Lender Placed Coverage is a policy obtained by the lender when a cancellation notice has been received on your present policy. Lender Placed Coverage protects the home only, with no personal contents or liability coverage and is generally more expensive than your normal homeowner's insurance policy.
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A Lender Placed policy is coverage obtained by the lender when a cancellation notice has been received on your present policy. Lender Placed coverage is to protect only the lender's interest in the property. Lender Placed coverage is generally more expensive than normal homeowner's insurance and does not provide protection for the personal property or furnishings inside the home.
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What is Lender Placed Coverage?
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