Mortgagee Clause


Definition of "Mortgagee clause"

Attachment to a property insurance policy to protect the interest of the mortgagee in the mortgaged property. If the property is damaged or destroyed, the mortgagee is indemnified up to his or her stated interest in the property.

Have a question or comment? We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 

Search Real Estate Terms

 

Popular Real Estate Terms

Net Worth

Total assets minus liabilities. It is used by underwriters to evaluate the financial standing of applicants for surety bonds. ...

Occupational Disease

Illness contracted as the result of employment-related exposures and conditions. Coverage for such diseases is found under workers compensation insura ...

Administrative Expenses

Costs associated with the general administration of the insurance organization to include such items as utilities, rent, salaries, postage, furniture, ...

Experience Modification

Adjustment of premiums resulting from the use of experience ratings. Experience rating plans take the form of retrospective plans or prospective plans ...

Risk Identification In Property Exposures

Process of discovering sources of loss concerning the property risk faced by individuals and business firms. The first step is to analyze possible per ...

Written Premiums

Total premiums generated from all policies written by an insurance company within a given period of time. ...

Popular Real Estate FAQ

What Do I Need To Know About RV Insurance?

Your motor home can be both your transportation and your home away from home. So like your auto and your home, you need to safeguard it with the prope ...

What Do I Need To Know About Watercraft Insurance?

You need separate coverage for the variety of risks you face when storing, launching, hauling or running your seaworthy vessel. Boats, and other water ...

How Do I File An Insurance Claim?

Call your Insurance agent or Insurance Company \"Claims Hotline\" as soon as possible. Getting your agent\'s help, may speed things along. ...

What Should I Do If I'm In An Accident?

1.- Stay Calm. Determine the injuries and or damage. 2.- Call the police. File an accident report and obtain medical assistance if needed. 3.- L ...

What Do I Need To Know About Motorcycle Insurance?

You need an insurance policy that is tailored in your needs in mind. Take liability for example. Guest passenger liability helps protect you bodily in ...

What Do I Need To Know About Auto Insurance?

Choosing the auto insurance requires consideration of manyfactors- Take into account everything you own and the reasons to protect them. The year of ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

Down Payment: Everything You Wanted to Know Luxury Real Estate Forecast Furnished Rental Tips for Real Estate Investors How to Buy a House Quickly What is a Credit Score and How Does it Impact Real Estate?

FAQ

What is a lien? What is an agent? What do I need to know about Business Insurance? What do I need to know about Watercraft Insurance? Why should I use a real estate agent?