Our Loan Protection coverage is not a one-size-fits-all style policy. Our personalized policies translate to better coverage and premiums that are, on average, 30-50% lower than traditional Creditor Insurance. We also give you the ability to lock in your rates, so you will not be faced with expensive increases down the road.
Creditor Insurance policies purchased from lenders are designed to protect the lender first and foremost, so they are the beneficiary. In the unfortunate event that you become injured, sick, or die, Loan Protection through Harvard Western Insurance pays the beneficiary that you have assigned.
Policies are underwritten at the time of application and not at the claim time. This differs from Creditor Insurance, where you are underwritten only after suffering a claim. Unfortunately, this could result in you not being covered for what you thought – but you will not know until it’s too late.
Freedom to Go Wherever You Choose
If you decide to move your loan to a different financial institution, you will not be able to take your Creditor Insurance with you. This means you would have to reapply for coverage with the new lender. With Harvard Western Insurance, you can move your loan to any financial institution you choose without losing your coverage and leaving you vulnerable to coverage gaps while you get your new policy.
We are an insurance brokerage, not a bank. Our employees are licensed insurance experts and spend countless hours to continue educating themselves.