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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. All of your loans, including leases, are covered at loan inception from loss resulting from:
All Risk Physical Damage Installment Loan Insurance - Comprehensive and Collision
Skip and Confiscation Insurance
Physical Damage Loss to Repossessed Vehicles
Title Errors & Omissions 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. Regulation Z permits the low one-time premium charge at loan inception to be passed through to the borrower or other source of loan origination.
Coverage is also available for the outstanding loans in your portfolio that were initialized 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 Great American Insurance Group, an admitted carrier rated "A" (Excellent) by A.M. Best Co.
Lenders Single Interest Application
