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Why do we put lien holders, mortgagees, and additional insureds on settlement checks?

April 26, 2017additional checks HOLDERS insured lien mortgagees

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Why do we put lien holders, mortgagees, and additional insureds on settlement checks?

1 Answer

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Lien holders, mortgagees, and additional insured’s have a financial interest in the property that is damaged. Under the terms of your policy, they share an interest with the named insured.