Miami Forced Place Insurance Lawyers
If you are a homeowner and have had “forced placed insurance” (insurance purchased by the bank/loan company for you) on your loan, you may have a case against the bank/loan company.
Banks and loan companies that provide mortgages and car loans have a practice of purchasing insurance and charging the borrowers of either home mortgages or car loans prices far above market value. That means that the banks or loan companies purchase insurance for the homeowners or the car owners when the banks/loan companies believe that the borrower has not purchased the proper insurance. Many times the policies that they purchase and charge to the borrower are much more expensive than a policy that the borrowers could have purchased on their own. The types of policies that have been purchased include hazard insurance and flood insurance for homes and lender placed insurance for automobiles.
If you have been a victim of this practice, you may have a cause of action to recover the difference between what you were charged and what a policy would have cost in the open market. For a free consultation please call Dolan Dobrinsky Rosenblum Bluestein, LLP for a free consultation. We do not charge a fee unless we obtain a recovery for you.