Provides protection for Personal Property/household items (other than a vehicle) pledged as collateral for a loan.
What are the benefits?
- Peace of mind. Credit Property Insurance gives you peace of mind knowing that the collateral you pledge for your loan will be protected in the event that it is damaged or destroyed. If your collateral is damaged due to a covered event, your loan will be paid off which will help protect your credit from unforeseen circumstances.
- Reasonable premiums. Rates vary from state to state and the actual cost of your particular coverage depends on where you live, your loan amount, and the coverage selected. Please contact your financial institution for specific rate information.
- Convenient. Application is easy and usually done at time of loan application. And, your one time premium may be conveniently included in your loan amount.
When can I apply for Credit Property Insurance?
You may apply for Credit Property coverage at the time of your loan application. Your insurance becomes effective as soon as your loan is finalized.
How long does it take to process a claim?
Unless your claim requires additional information, your claim is generally processed within 10 days after receipt of all required information.
No obligation for 30 days
When you apply for Credit Property insurance, you have a 30 day Free Look period following receipt of your insurance certificate to review your plan and make sure it meets your expectations. If, during this period, you decide you don’t want the coverage, you can cancel it without obligation and any premiums paid will be refunded.
Who underwrites the coverage?
Insurance is underwritten by Plateau Casualty Insurance Company, a member company of The Plateau Group. The Plateau Casualty Insurance Company is highly rated by the major independent rating agencies that analyze the financial soundness and claims-paying ability of insurance companies. For more information about the rating agencies and to see where the Plateau Group ranks relative to other companies, please visit our website at: www.800plateau.com