Real Estate Owned Property (also known as REO) provides lenders with either Named Peril or All Risk physical damage for any portion of their portfolio of owned properties, foreclosed properties, and properties in the process of foreclosure. Coverage may also extend to properties held in trust for others.
Real Estate Owned (REO) Property Insurance is available on an admitted basis in all states for all types of residential and commercial property. Unique and customized programs are available on a surplus lines basis in any state.
Knox Insured’s Real Estate Owned (REO) Property Insurance program offers a wide variety of limits, deductibles and coverage options. Standard Limits of Liability are $1,000,000 per location. Limits up to $10,000,000 or greater are available.
Real Estate Owned (REO) Property Insurance may be purchased on either a stated value or total insurable value.
Real Estate Owned (REO) Property Insurance may be purchased on either a replacement cost or actual cash value basis; with or without co-insurance penalties.
Real Estate Owned (REO) Property Insurance coverage may be term, annual, monthly with various billing options.
Optional coverage to the basic Real Estate Owned product include:- Broad Form or All Risk Commercial Perils
- Flood and Earthquake
- Demolition Expense
- Pollution Extraction and Removal
- Ordinance or Law
- Mine Subsidence
- Freeze, Discharge and Leakage
- Builders Risk
- Real Estate Owned Contents
Blanket Real Estate
Blanket Mortgage Insurance provides mortgagees with either Named Peril or All Risk physical damage protection for any segment of the mortgage portfolio or for the entire mortgage portfolio. In the event that the mortgagor is not carrying contractually required hazard insurance naming the lender as mortgage holder, this coverage protects the mortgagee's security interest or servicing interest for others.
Blanket Mortgage Fire Insurance is available on an admitted basis in all states for all types of residential and commercial property. Unique and customized programs are available on a surplus lines basis in any state. Coverage may be purchased on first mortgages, second mortgages and/or home equity lines of credit.
Our Blanket Mortgage Fire program offers a wide variety of limits, deductibles and coverage options. Standard Limits of Liability is $300,000 per location. Limits up to $5,000,000 are available. Coverage is generally limited to the mortgage loan balance. Coverage may be annual or monthly with various billing options.