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6 December, 12:05

A mortgage clause insurance a. gives the same protection as a loss payable clause b. entitles mortgages to payment even when insured have prejudiced their own rights under the policy c. bestows rights and obligations on mortgages and insured d. is an agreement between the mortgage and the insured

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  1. 6 December, 16:05
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    Mortgage clause insurance entitles the mortgages to make payment even when the insured have prejudiced their own rights under the terms of the policy.

    Explanation:

    A mortgage clause is one in which the property insurance policy states that the company of property insurance will pay out the claims to both the parties that is mortgagor (mortgage holder) and the mortgagee (mortgage lender).

    It serves the purpose or objective of making sure that the parties will not suffer the losses who give mortgage loans if something happens to the property which is mortgage is for.
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Home » Business » A mortgage clause insurance a. gives the same protection as a loss payable clause b. entitles mortgages to payment even when insured have prejudiced their own rights under the policy c. bestows rights and obligations on mortgages and insured d.
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