FAQs

What do I need to do if my insurance is canceled?

If your homeowners insurance is canceled, you must take action immediately to ensure your home remains protected and you stay in compliance with your loan agreement.

Please follow these three steps:

1. Secure a New Policy: Contact your insurance agent or a new carrier right away to purchase a replacement policy.

2. Provide the “Mortgagee Clause”: Ensure your agent lists Pennymac as the mortgagee on your new policy using this exact wording:

PennyMac Loan Services, LLC
Its Successors and/or Assigns
PO Box 6618
Springfield, OH 45501-6618

3. Send Us Proof of Coverage: Once you have your new Declarations Page, send it to us immediately via mycoverageinfo.com/pennymac or email it to pennymac@mycoverageinfo.com.

Why speed matters:

If we do not receive proof of a new policy, we are required by your loan terms to purchase “lender-placed” insurance for the property. This coverage is generally much more expensive than a policy you can purchase yourself and provides less protection for your personal belongings.