A #lien is a legal claim or charge on real or personal property, used as security for a debt or duty. In the context of #insurance, a #lienholder (such as a lender or creditor) has a financial interest in the property until the debt is fully paid.

For example, if you finance a car, the lender (lienholder) has a lien on the vehicle until you pay off the loan. It’s important for the insured to disclose any existing liens to the insurer, as this can affect the terms and conditions of the #insurancepolicy.

Do you have any specific questions about liens or how they might impact your insurance coverage? Sincerely,

Harpreet Singh, Most lovable ❤️ Insurance Broker in Ontario

Phone – 6476217890

Email – insurancechampion@outlook.com

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