Third-Party Provisions (UT-PC)

A mortgagee has a right to purchase insurance on the mortgaged property–if the mortgagor fails to do so.

A mortgagor will often require a mortgagee to purchase and maintain property insurance on the mortgaged property.

The mortgagee retains its right to recover damages and be paid for losses, regardless of any act, violation, or neglect on the part of the insured.

The mortgagee has the right to be notified if the insured does not pay the policy premium or if the policy is canceled.

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