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Colonial General Insurance Agency

Colonial General Insurance Agency, Inc. is a wholesale General Agency providing quality insurance products to the Independent Insurance Agent. We specializes in standard and non-standard business. We can write Property and Casualty business as well as Commercial Auto, Commercial Garage, Preferred and Brokerage.

Pawning with Colonial!

Rolland Wiegers Rolland Wiegers , 9/21/2016
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Desperate times call for desperate measures. In a financial time of need, people will do whatever it takes and start to pawn off items to make some extra cash. Whether it is to pay a utility bill, buy groceries, or even if you just need a cash advance; a pawn shop is a great place that can help out fast and in a time of need.

While this is a fast way to get cash many problems can arise! Let’s say a customer comes in and pawns off their laptop, but they plan on coming back to get it out of pawn once they have the cash to do so. During the time the pawn shop is holding that laptop; someone else may come in and buy it for the same if not higher price, then what happens? Mistakes can be made, and Items that shouldn’t have been for sale at all, can sometimes accidentally be sold, or damaged.           

If the customer was to return to buy it back, chances are they are going to be extremely upset and possibly even threaten to sue. Another example; let’s say the pawn shop was robbed, not only will the customers be upset if they planned to get those items back, but your client will be responsible for the costs and damages made.

In a time of need Colonial General Insurance is here to help!

We can provide Property and Liability Coverages available on mono-line or package basis for operations lending money on articles of personal property which have been left as security or purchasing personal property for resale.

Policy Highlights:
• Accounts Receivable
• Basic, Broad or Special Form—Excluding Theft
• Building—Replacement Cost or ACV
• Business Income
• Business Personal Property—Subject to Evaluation Clause
• Products/Completed Operations Excluded
• $5,000 Medical Payments Coverage—Included
• Additional Interests—included at no charge
• Excess or Umbrella limits up to $25,000,000
• No deductible required
• Inside the Premises—Theft of Money and Securities
• Inside the Premises—Robbery or Safe Burglary of Other

Our Pawn Shop program is available in the following states: AZ, CA, CO, ID, NV, MN, UT and WY.

To learn more about the coverage we can provide for you please visit our Pawn Shop Insurance storefront or send us an email.