Your mortgage requires you to maintain insurance on your property and notify us in the event you reduce or increase the amount of insurance, terminate it for any reason, or make a change in the agency now insuring your property. You should be certain the amount of insurance you carry is sufficient at today’s replacement cost. Consider contacting your agent to thoroughly review the adequacy of your coverage, including flood coverage should your property now be in a special flood hazard area.
Substitution policies are due in our office 30 days prior to the expiration of your existing policy. We assume no responsibility for maintaining insurance coverage on your property. If you or your insurance agent fail to renew the insurance policy (or policies) on your property or forward the premium notice to us, you will have no insurance coverage on the property to protect your equity and interests.
If you are in receipt of your hazard or flood policy renewal, please provide us with this information. It can be faxed to 866-515-7510, email to email@example.com or mailed to the address below. Please ensure the documentation references your loan number, and that the Mortgage-Payee Clause reads:
Standard Mortgage Corporation
P.O. Box 792107
San Antonio, TX 78279
If you have any questions about the requirement to provide insurance for your property, please contact us at (866) 515-7503, Monday through Friday, 7 a.m. to 9 p.m. Central Time.
For information on life insurance that could pay your mortgage debt in the event of death and/or accident and health insurance that could pay your monthly mortgage payments (subject to certain guidelines), please contact our customer service department.