Form: Acord 25, Acord 27, Acord 28 (If all required coverages can be listed on one form, separate forms are not necessary).

Protects building and construction material during construction or leasehold improvements in the event of damage or destruction by fire, theft, vandalism, explosions, and/or water damage due to burst pipes (flood and earthquakes not covered, unless added).

• Full replacement cost or maximum insured value.
• Minimum coverage must equal total construction costs.
• Lender’s Loss Payable endorsement (438 BFU, CP 12 18 or equivalent).
• List Lender as Mortgagee (1st or 2nd mortgage).

• A provision indicating that Lendistry will receive at least 30 days advance written notice from the insurer prior to cancellation or reduction of the policy, and a 10-day advance written notice of cancellations for nonpayment of premiums.

Form: Acord 28

Protects the business’s assets in the event of damage or destruction by fire, theft, vandalism, explosions, and/or water damage due to burst pipes (flood and earthquakes not covered, unless added). Assets protected include equipment, inventory, furniture, and computers.

• Full Replacement Cost.
• Lender’s Loss Payable endorsement (438 BFU, CP 12 18 or equivalent).
• Maximum deductible allowed is $5,000.

• A provision indicating that Lendistry will receive at least 30 days advance written notice from the insurer prior to cancellation or reduction of the policy, and a 10-day advance written notice of cancellations for nonpayment of premiums.

Form: Acord 27 or Acord 28

Protects commercial building and its contents from damage or destruction by fire, theft, vandalism, explosions, and/or water damage due to burst pipes (flood and earthquakes not covered, unless added).

• Full replacement cost or maximum insured value.
• List Lender as Mortgagee (1st or 2nd Mortgage).
• Lender’s Loss Payable endorsement (438 BFU, CP 12 18 or equivalent).
• Maximum deductible allowed is $25,000.

• A provision indicating that Lendistry will receive at least 30 days advance written notice from the insurer prior to cancellation or reduction of the policy, and a 10-day advance written notice of cancellations for nonpayment of premiums.
• Policy cannot specifically exclude Wind/Storm Damage.

Form: Acord 25

Protects the exterior parts of the condominium such as roof, exterior walls, and any landscaping from loss due to fire, wind, and hail.

• Lists address of Owner’s Unit/Suite.
• Full replacement cost or maximum insured value of Exterior/Shell.

• Condo Association and/or Vested Owner (if not listed as insured, must be listed as the owner in the remarks section).

Form: Acord 27 or Acord 28

Protects the interior parts of the condominium from the studs in (such as appliance and light fixtures) from damage or destruction by fire, theft, vandalism, explosions, and/or water damage due to burst pipes (flood and earthquakes not covered, unless added).

• Full replacement cost or maximum insured value.
• List Lender as Mortgagee¹ (1st or 2nd mortgage).
• Lender’s Loss Payable endorsement (438 BFU, CP 12 18 or equivalent).
• Betterments and Improvements.

• A provision indicating that Lendistry will receive at least 30 days advance written notice from the insurer prior to cancellation or reduction of the policy, and a 10-day advance written notice of cancellations for nonpayment of premiums.
• Policy cannot specifically exclude Wind/Storm Damage.

Flood Insurance is required for real estate properties in areas at risk for flood; areas identified by Federal Emergency Management Agency (FEMA).

• Outstanding principal balance or maximum limit of coverage available under the National Flood Insurance Act of 1968, whichever is less.
• The maximum for businesses is $500,000 in building coverage and $500,000 in contents coverage.

• A provision indicating that Lendistry will receive at least 30 days advance written notice from the insurer prior to cancellation or reduction of the policy, and a 10-day advance written notice of cancellations for nonpayment of premiums.

Flood Insurance is required for real estate properties in areas at risk for flood; areas identified by Federal Emergency Management Agency (FEMA).

• Outstanding principal balance or maximum limit of coverage available under the National Flood Insurance Act of 1968, whichever is less.
• The maximum for residential structures for a family of one-to-four is $250,000 in building coverage and $100,000 in contents coverage.
• For residential structures of five or more units, the maximum is $500,000 in building coverage and $100,000 in contents coverage.

• A provision indicating that Lendistry will receive at least 30 days advance written notice from the insurer prior to cancellation or reduction of the policy, and a 10-day advance written notice of cancellations for nonpayment of premiums.

Form: Acord 25

• Minimum requirement: $1MM each occurrence; $2MM aggregate.
• For loans $2,000,000 to $5,000,000: additional excess/umbrella coverage (XLIB) of at least $1,000,000 is required and cannot be combined with the aggregate.
• Lender referenced as Additional Insured.

• A provision indicating that Lendistry will receive at least 30 days advance written notice from the insurer prior to cancellation or reduction of the policy, and a 10-day advance written notice of cancellations for nonpayment of premiums.

Document: Fully executed copy of the life insurance policy showing the assignment of collateral.

Protects the business by paying out a certain dollar amount in the event of the death of an owner or key man employee.

• Face amount must be equal to or greater than Loan amount.
• Add Lender as “Assignee”.
• Complete an Assignment of Policy as Collateral Security.

• For new policies: Generate policy and assignment of collateral generated simultaneously to expedite the process.

Form: Acord 25

Protects professional individuals in the event they are stricken with a disabling medical condition.

• For Operating Company or Doctor.

Form: Acord 27

Protects residential building and its contents from damage or destruction by fire, theft, vandalism, explosions, and/or water damage due to burst pipes (flood and earthquakes not covered, unless added).

• Full replacement cost or maximum insured value.
• List Lender as Mortgagee (1st or 2nd mortgage).
• Lender’s Loss Payable endorsement (438 BFU, CP 12 18 or equivalent).

• A provision indicating that Lendistry will receive at least 30 days advance written notice from the insurer prior to cancellation or reduction of the policy, and a 10-day advance written notice of cancellations for nonpayment of premiums.

Form: Acord 25

Protects the vehicle owner in the event of an unforeseen accident to pay for medical bills, property, and vehicle replacement.

• VIN must be listed on Acord form.
• Maximum deductible allowed is $500.00.

• Confirm liability is part of coverage.
• Include Comprehensive and Collision.

Form: Acord 25

Protects the business by paying a percentage of an employee’s salary in the event they are injured while performing their duties and responsibilities.

• For Operating Company.