yes

Yes, they are required by law to notify your lien holder of any change in coverage.

Yes they can. If the lien holder had to advance the premium to pay for the insurance, the amount is added to your finance note with the interest.

Force Placed Insurance is coverage obtained by the lien holder to cover their interest in the financed property when the buyer fails to meet the required coverage conditions of the finance note. No coverage is provided to the buyer at all, only the lien holder.

Basically if the finance company has obtained force placed insurance coverage then the buyer is already in default on the terms of the finance contract.

The cost of the coverage is added to your bill or finance note without benefit of coverage to the buyer.

Force Placed Insurance is coverage obtained by the lien holder to cover their interest in the financed property when the buyer fails to meet the required coverage conditions of the finance note. No coverage is provided to the buyer at all, only the lien holder.

Basically if the finance company has obtained force placed insurance coverage then the buyer is already in default on the terms of the finance contract.

The cost of the coverage is added to your bill or finance note without benefit of coverage to the buyer.

More than likely your lien holder will require you to carry collision and comprehensive coverage in addition to liability coverage, this is to protect them/their investment.