Helping protect tax lending portfolios

The Facts about Insurance for Tax Loans

Tax Lenders are governed by the Texas Finance Code which authorizes the Lender to implement a "Collateral Protection Insurance" program. If implemented correctly, this program allows a Tax Lender to fully charge the homeowner for any insurance needed to cover the loan amount in addition to those fees associated with that insurance.

Coverage Types

The two  most important types of coverage for a tax loan portfolio are fire and wind coverage. There are many times where fires completely destroy a house and leave the Tax Lender with little to no collateral to cover a loan. Windstorm coverage is especially important when a large number of counties are in Tier 1 & Tier 2 counties which are much more likely to be hit with wind damage from hurricanes.

B&L Insurance

B&L Insurance has helped cover thousands of properties over the years and been able to help submit claims in recovering over five million dollars for Tax Lenders. In addition to helping implement a CPI program, B&L helps monitor the program and provides any necessary help in running the program efficiently.