Vendor Single Interest...
Vendor Single Interest (VSI)
Blanket Vendor Single Interest Insurance (VSI), sometimes called
Blanket Single Interest is an insurance product that has proven its
value-proposition to automobile financers since 1972. The benefit to
the lender is a reduction of net charge-offs from 7% to 17%. The lender
is reimbursed when a delinquent borrower’s collateral is repossessed
and there is either uninsured physical damage or the collateral is
unrecoverable (skip).
WHAT IS COVERED?
VSI provides a blanket policy
that protects the lender or lessor when the borrower's primary
insurance has lapsed or been canceled.
COVERAGE HIGHLIGHTS:
All Risk Physical Damage Insurance
Non-Filing Errors and Omissions
Skip Insurance
Confiscation Insurance
Repossessed Vehicle Insurance
OPTIONAL ENDORSEMENTS:
Waiver of Subrogation
Mechanical Liens and Storage Charges
Waiver of Actual Cash Value
Borrower Deductible Coverage
Insurable collateral includes automobiles, motorcycles, watercraft, recreational vehicles, mobile homes, and other chattels.
Premium rates and remittance are calculated per lending institution. We provide for simplified premium remittance. | 
