You’re required to maintain full replacement cost coverage, or coverage equivalent to your loan amount.

REQUIREMENTS

• Provide M&T proof of coverage
• Maintain required level of coverage
• Instruct insurer to list M&T under your policy's mortgagee clause
• Have policy invoices directed to M&T
• Notify M&T timely whenever you change insurance providers
• For condominiums: a “Master Policy” is also required from your homeowners’ association or similar governing body

POLICY MORTGAGEE CLAUSE INFORMATION

M&T Bank
ISAOA loan #: (M&T loan number)
P.O. Box 5738
Springfield, OH 45501-5738

WHEN CHANGING INSURANCE PROVIDERS

Notify M&T and have bills directed to:

M&T Bank
Attn: Insurance Services
P.O. Box 5738
Springfield, OH 45501-5738

Please call us at 1-888-882-1847 if you have any questions. Or chat with a live agent online at mycoverageinfo.com/mtb.

If your insurance lapses, or your coverage amount is insufficient, M&T may purchase insurance on your behalf and bill you for it. This IS NOT recommended.

LOOK FOR

Letters from M&T requesting proof of insurance. Without a timely response from you, M&T may begin the process of force placing insurance.

DISADVANTAGES OF FORCED PLACED INSURANCE

• May be more expensive than the insurance you could obtain on your own due to limited information about your property
• May cause your monthly payment to increase significantly
• Coverage can be limited compared to insurance you could obtain on your own. It typically does not provide for:
  • The replacement value of your property
  • Coverage for contents, possessions and belonging

Please call us at 1-888-882-1847 if you have any questions. Or chat with a live agent online at mycoverageinfo.com/mtb.

If you need help getting insurance, your state insurance department can be a valuable resource.

STATE INSURANCE DEPARTMENT RESOURCES MAY INCLUDE

• A list of insurers in your area
• Fair Access to Insurance Requirements Plan - which could provide coverage at a lower cost

The Insurance Information Institute can help you access these resources.

UNABLE TO AFFORD THE INITIAL INSURANCE PREMIUM?

We can pay the initial premium on your behalf and bill you in your monthly mortgage payment.

COVERED INSURANCE

With Covered Insurance, M&T Bank customers can shop and compare insurance quotes from over 50 top-rated insurance carriers to find you multiple insurance options in just minutes{{d1319*}}.

Visit Covered >

Please call us at 1-888-882-1847 if you have any questions. Or chat with a live agent online at mycoverageinfo.com/mtb.

Providing proof of insurance can be done in whatever way is most convenient for you.

ONLINE
www.mycoverageinfo.com/mtb

BY EMAIL
mtb@mycoverageinfo.com

BY FAX
1-937-525-4125

BY MAIL
M&T Bank
Attn: Insurance Services
P.O. Box 5738
Springfield, OH 45501-5738

BY MAIL
M&T Bank
Attn: Insurance Services
P.O. Box 5738
Springfield, OH 45501-5738
 

Please call us at 1-888-882-1847 if you have any questions. Or chat with a live agent at mycoverageinfo.com/mtb.

The Federal Emergency Management Agency (FEMA) maintains maps designating these areas as “A” or “V” Flood Zones.

FEMA flood zone maps are continuously updated and available at www.fema.gov/flood-maps.

If you have a condominium, the floor the property is located on does not matter. If the foundation of the building is compromised, the whole building is compromised .

Please call us at 1-888-882-1847 if you have any questions. Or chat with a live agent online at mycoverageinfo.com/mtb.

Your policy must provide coverage equal to the lesser of:                                             

• The unpaid principal balance of any liens on the property
• The replacement cost of the structure, plus improvements                                                
• Or, the maximum insurance available from the National Flood Insurance Program which is $250,000 for a residential property

NOTE: If you have a condominium, you can typically determine the amount of coverage you have by dividing your Association’s master policy amount by the number of condominium units.

IF YOUR INSURANCE LAPSES OR IS INSUFFICIENT

M&T may be required to purchase insurance on your behalf and charge you for it. This is not recommended.

• It can be significantly more expensive – impacting your monthly payments
• Coverage can be limited compared to borrower obtained coverage

Please call us at 1-888-882-1847 if you have any questions. Or chat with a live agent online at mycoverageinfo.com/mtb.

Providing proof of insurance can be done in whatever way is most convenient for you.

ONLINE
www.mycoverageinfo.com/mtb

BY EMAIL
mtb@mycoverageinfo.com

BY FAX
1-937-525-4125

BY MAIL
M&T Bank
Attn: Insurance Services
P.O. Box 5738
Springfield, OH 45501-5738

Please call us at 1-888-882-1847 if you have any questions.