Insurance companies. Insurance Brokers. Love them or hate them….
If you are in the mortgage business, you hate them.
Example? Today, I am doing a refinance for a customer and need the Association’s insurance policy.
We called the current broker and they said that the current policy expires on Friday and they have not picked a new company to bind coverage yet. Problem? Yes! My customer’s rate expires and needs to close. The lender needs to know that there will be coverage and what that coverage is.
The insurance broker won’t return calls, is out to lunch and doesn’t give a hoot.
Also, the Homeowner’s Association is not aware that this is an issue and they don’t care either.
CAn’t we all just understand who needs what and when? It’s no skin off anyone’s back to communicate and understand the situation.
Working together is important. As real estate and mortgage professionals, it’s time to educate Associations and Insurance companies about the fact that they are making people miserable and someone will show up that does great customer service and eventually make them unemployed.
So today, call your favorite insurance and condo association friends and foes and let them know that timing is important, return calls is important and getting us what we need in a timely fashion is imperative.
And, play them this song from our friends from the group #War.