Lease Tracking Services started in 1987 to provide contingent excess liability insurance to leasing companies. Over the years, we have shifted our priorities to lease tracking, but that original focus goes to show our expertise in the insurance industry. Thanks to our decades of work in the insurance industry, we have access to a broad network of insurance professionals throughout the United States.
Since LTS is no longer a licensed insurance agency, we do not receive commission based on the recommendations that we make. This independence allows us to make partnerships with the best agencies for each of our clients, and gives our clients peace of mind that we are making the best choices for them. We’ve worked hard to build and nurture our customer relationships and industry relationships, and we are pleased to provide our customers with top-notch insurance industry knowledge.
Even if you are using insurance tracking services, are your interests protected? Force-placed insurance allows lenders, banks and loan servicers protection in the event that the lessee’s own insurance policy is insufficient, lapses or is canceled. Unfortunately, even if you do everything right in ensuring your customer has a policy, if something happens during a one-week gap between insurance policies, you will not be protected without additional coverage.
Force-placed insurance can be used to protect your investment in a broad range of property and loan types, including residential properties, flood-zone properties, commercial properties, consumer loans and automobile loans. Ideally, when you use force-placed insurance, the buyer or lessee will keep their own insurance policy active the entire time that they have possession of the property. However, this policy will protect you in the event that they allow their insurance to lapse or cancel it. We make sure that your bottom line is safe even when lessees are going through economically uncertain times.