Simplifying Home Insurance Management with Third Federal’s Provide My Insurance

Owning a home is an exciting milestone. But it also comes with the responsibility of properly insuring your valuable asset against risks like fire, theft, and natural disasters. As a leading mortgage lender, Third Federal understands this and aims to simplify home insurance management for borrowers through its Provide My Insurance platform.

What is Provide My Insurance?

Provide My Insurance is an online portal offered by Third Federal where borrowers can conveniently submit and manage their home insurance information. This helps ensure continuous coverage as required by their mortgage agreements.

Some key features of Provide My Insurance include:

• Easy uploading of insurance documents, certificates, and declarations pages. Supported file types include PDF, JPG, PNG, and more.

• Submit details on your insurance agent if you don’t have documentation on hand. Provide My Insurance will reach out to verify coverage.

• 24/7 accessibility on desktop and mobile devices. Monitor insurance status and receive reminders when policies are nearing expiration.

• Secure storage of insurance documents with SOC 2 Type II certification. No need to keep hard copies or share sensitive information via email.

• Direct integration with Third Federal’s servicing system. Insurance details are automatically updated on your mortgage loan once submitted.

Why is Home Insurance Management Important?

Maintaining adequate home insurance is a requirement spelled out in mortgage contracts. Without proper coverage, borrowers risk significant financial exposure if disaster strikes. Common scenarios include:

• Lapsed policies – Letting home insurance expire, even briefly, is considered a default on the mortgage. This allows the lender to purchase costly “force-placed” insurance and charge the premiums back to the borrower.

• Insufficient coverage – If insured amounts fall below what’s owed on the mortgage, the lender may again force-place insurance with higher limits. Or they may call the full loan amount due immediately.

• Policy changes – Failure to notify the lender of changes like switching insurance providers can also trigger force-placed insurance.

Beyond contract requirements, continuous home insurance is critical to protecting your own interests. According to Insurance Information Institute data, the average home insurance claim for property damage is nearly $15,000. Having coverage can make the difference between minor inconvenience and financial catastrophe in the event of a large loss.

How Provide My Insurance Streamlines Home Insurance Management

Juggling mortgage obligations on top of life’s other priorities is challenging enough. Provide My Insurance takes the hassle out of home insurance management through:

Convenient Document Upload

• Access Provide My Insurance from any device and upload insurance documentation directly. No need to print, scan, or email documents.

• Supported file formats include PDF, JPG, PNG, and GIF. Easily take pictures of declaration pages or certificates using a smartphone camera.

• Documents are immediately available for Third Federal to review and update their records, with no mail delays.

Proactive Status Monitoring

• Check coverage status and expiration dates 24/7 through the Provide My Insurance dashboard.

• Receive automatic email reminders when policies are about to lapse or need updated documentation.

• Rest assured that Third Federal has current insurance information on file, avoiding any force-placed insurance risk.

Direct Carrier Integration

• Many major insurance carriers now offer direct data feeds to lenders and servicers. When available, Provide My Insurance automatically pulls policy data without any effort by the borrower.

• If direct integration is not available, simply snapping photos of your declarations page is all that’s needed to keep coverage current.

Agent Information Backup

• What if you need to submit updated insurance information but don’t have immediate access? Provide My Insurance lets you enter agent contact details as a backup.

• Third Federal contacts the agent directly to verify active coverage on your property. No risk of coverage gaps or force-placed insurance.

• Once you obtain the proper documentation, it can still be uploaded at your convenience.

Secure Cloud Storage

• Insurance documents are stored in Provide My Insurance’s secure online vault, eliminating paper clutter.

• User access and data transmission are safeguarded by SOC 2 Type II certification, one of the most rigorous data security standards.

• You can download copies of submitted documents anytime for your own records.

By removing hassles and coverage gaps from the insurance management process, Provide My Insurance protects borrowers and gives Third Federal customers one less thing to worry about.

Who Can Use Provide My Insurance?

Provide My Insurance is available exclusively to Third Federal mortgage customers. To access the portal, you must have:

• An active Third Federal mortgage loan number
• Property address matching loan records

If you meet these requirements, simply visit ProvideMyInsurance.com and click “Submit Insurance Info” to begin.

Provide My Insurance currently only supports homeowner’s insurance submissions. Other coverage like flood and wind policies still need to be managed directly through Third Federal’s insurance department.

Getting Started with Provide My Insurance

Ready to start enjoying simplified home insurance management? Just follow these steps to begin using Provide My Insurance:

Step 1: Visit ProvideMyInsurance.com

• Go to https://thirdfederal.providemyinsurance.com/ in any modern web browser.

• The site is mobile-friendly, so you can also access it from smartphones and tablets.

Step 2: Click “Submit Insurance Info”

• From the Provide My Insurance homepage, click the blue “Submit Insurance Info” button.

• This will take you to the document upload form.

Step 3: Enter Your Loan Details

• On the upload page, you’ll need to enter your Third Federal loan number, property address, and contact information.

• This allows Provide My Insurance to match your policy to the correct mortgage loan.

• You’ll only need to enter this info once for subsequent logins.

Step 4: Upload Your Documents

• With your loan validated, it’s time to upload insurance documentation. You have two options:

  1. Upload documents – Drag and drop or browse to select PDF, JPG, PNG, and GIF files from your computer or device storage.

  2. Enter agent info – If no documents are available, you can enter your insurance agent’s name, company, phone, and policy number for verification.

• Be sure to include all page(s) showing property address, coverage amounts, and policy effective dates.

Step 5: Confirm Your Upload

• Once finished selecting documents or entering agent details, click “Submit” to complete your insurance submission.

• Provide My Insurance will display a confirmation message with details of what was uploaded.

And that’s it! Provide My Insurance will now digitally deliver your insurance documentation directly to Third Federal for processing. You can log in anytime to check status, view past submissions, or upload new documents.

Provide My Insurance Support Resources

Along with simplified self-service access through the website, Provide My Insurance also offers support resources like:

• Live customer service – If you have questions or need assistance, licensed insurance agents are available at 855-792-8722, Monday to Friday from 8:30am to 8pm Eastern.

• FAQ knowledgebase – Answers to frequently asked questions about Provide My Insurance can be viewed at https://thirdfederal.providemyinsurance.com/FAQ. Topics include registration, uploading documents, website features, and more.

• Secure messaging – You can send private messages to the Provide My Insurance support team through the website’s secure contact form. Expect a response within one business day.

• Third Federal website – Additional details on insurance requirements and force-placed policies can be found on Third Federal’s website at https://www.thirdfederal.com/resources/mortgage-help-center/maintain-insurance/.

Reaching out to a Provide My Insurance agent is recommended for any urgent issues like upcoming policy expiration dates. Otherwise, the self-service website has everything needed to successfully monitor and submit insurance documentation 24/7.

The Benefits of Streamlining with Provide My Insurance

Transitioning home insurance management to Provide My Insurance offers many benefits for Third Federal borrowers:

• No coverage gaps – Uploading documents or agent details as soon as you receive them prevents any lapses in required coverage.

• Avoid force-placed insurance – By maintaining continuous coverage, you won’t be subject to force-placed policies with high premiums.

• Document storage – Insurance documents are stored digitally in the secure cloud, eliminating clutter and giving you access anytime.

• 24/7 access – Monitor status and submit documentation on your schedule through the Provide