Repossession Coverage: streamline your repossession process
As an equipment lessor, you are occasionally faced with repossessing assets. The process can be streamlined with this quick, easy solution for ensuring coverage on repossessed equipment and commercial-titled vehicles. In most cases, coverage can be quoted and bound in as little as three days.
Repossession Coverage protects you from uninsured risk
Repossession Coverage protects you from the risk of direct physical loss to repossessed assets. You or your assigned third party must be in possession of the leased equipment with the intent of leasing or remarketing it to others. The coverage begins when you or your assigned third part take possession and have care, custody and control of the covered equipment. It is typically provided for 30, 60, or 90 days; however, it can be available for a longer period of time, depending on parameters.