Vendors Single Interest
SUI’s Vendors Insurance Program helps lenders looking to simplify the management of monitoring and protecting varied automobile or commercial equipment interests.
This coverage offers customizable blanket protection from top-rated carriers and is an alternative to lender placed insurance that is administrated at the point of loan origination. Most states allow for this coverage to be passed onto the borrower adding ease of processing and payment collection. Borrowers can benefit from a reduced or eliminated charge-off for the balance of the loan additionally.
Standard VSI
- Automobiles
- Motorcycles
- Motorhomes
- RVs
- ATVs
- Watercraft (under 30 ft)
- Small farm equipment
Commercial VSI
- Commercial Trucks
- Construction Equipment
- Business Equipment
- Inventory
- Farm Equipment
- Aircraft
- Watercraft (over 30 ft)
Standard VSI
- All Risk Physical Damage
- Instrument Non-Filing E&O
- Repossessed Collateral
- Skip and Confiscation
Commercial VSI
Coverages include:
- All Risk Physical Damage
- Repossessed Collateral
- Removes administrative burden of monitoring a loan portfolio for insurance coverage
- Coverage need only be verified at loan closing
- Eliminates additional customer outreach and complaints
- Customizable deductible and limit options are available
- Competitive coverage from top-rated carriers
- Claims category experience (collateral must be repossessed to file a claim)
- Easy monthly reporting
- Optional outsourced tracking program available to reduce losses
How can we help you?
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