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Blanket
Lenders Single Interest
BLANKET
LENDERS SINGLE INTEREST COVERAGE SUMMARY
Blanket
Lenders Single Interest (LSI) insurance provides specific
coverage to the lender at loan inception. Coverage is
provided on a blanket basis for all vehicle loans. Our
agency represents over 500 auto dealerships and our
partnership can provide you with a source for vehicle loans
and protect your portfolio from loss resulting from:
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All Risk
Physical Damage Installment Loan Insurance - Comprehensive
and Collision
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Skip and
Confiscation Insurance
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Physical
Damage Loss to Repossessed Vehicles
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Title
Errors & Omission and Instrument Non-Filing Insurance
The premium
is based on a one-time flat charge per vehicle at loan
inception and covers the entire length of the loan. The
cost may be "passed through" to the auto dealership
or other source of loan origination.
Coverage is
also available for the outstanding loans in your portfolio
that were initiated prior to the effective date of your LSI
policy. Blanket LSI eliminates the high administrative
cost of tracking your customers' insurance and force placing
coverage.
Your LSI
policy is provided by Bancinsure, Inc., an admitted carrier
rated "A-" (Excellent) by A.M. Best Co. Bancinsure,
Inc. provides insurance services to over 2,200 lending
institutions nationwide and is the only company that can
provide all product lines to banks.
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