Auto Repossession Insurance

Businesses that repossess automobiles (cars, trucks - personal or commercial auto repossession) have specialized liability exposures and require expert insurance advice and subsequent handling.

General liability for an auto repossession business, especially personal and advertising injury liability, is required by law. Adequate coverage is needed to cover the exposure from operating an auto repossession company.

Another insurance coverage requirement for these types of operations is auto liability for tow truck operations.

A specialized Drive-away coverage is needed to cover the liability exposure on the automobile that is being repossessed (towed away). In addition to that, garage-keepers legal liability is a coverage that is needed to cover the repossessed vehicles that are in the repossession company's care, custody, and control (normally housed in a garage or storage yard).

These are some of the typical coverages available for auto repossession companies -
  • Liability Insurance
  • Auto liability
  • Drive-away coverage
  • Personal and advertising injury liability
  • Garage liability insurance
  • Pollution Liability (if chemicals or environmentally hazardous substances are on site)
  • Commercial Auto Insurance
  • Workers Compensation Insurance
  • Tow truck operations insurance

repossession business looking to get insurance would normally need to produce a business licence, any loss or claim history; any special requirements for the business.
Amwins Underwriting
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Repossession Insurance Program Offered by Amwins Underwriting Trinity Underwriting Managers, part of the Amwins Underwriting division, has been specializing in underwriting the repo business for over 15 years.  The Repossession insurance progra...

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