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What insurance is required for the auto repo business and what is the normal cost of this insurance?
Wiki User
∙ 6y ago
MOST FINANCIAL INSTITUTIONS REQUIRE YOU TO HAVE AT LEAST A MILLIoN DOLLaR LIABILiTY COVERAGE POLICY. SOME ALSO REQUIRE YOU TO BE BONDED. YOU CAN GET ANSWERS TO A LOT OF THESE QUESTIONS BY GOING TO REPOMAN.COM. THE COST IS, OF COURSE GOING TO VARY FROM COMPANY TO COMPANY AND THERE ARE VERY FEW THAT ACTUALLY PROVIDE THE NECESSARY INSURANCE TO DO REPOSsESSIONS. I'VE SEEN COSTS AVERAGE BETWEEN $800 - $1000 A MONTH FOR A POLICY. ALSO, SOME INSURANCE COMPANIES THAT PROVIDE THIS INSURANCE HAVE A REQUIREMENT THAT YOU BE IN BUSINESS ANYWHERE FROM 2-3 YRS BEFORE THEY WILL EVEN WRITE YOU A POLICY. GO CHECK OUT THE WEBSITE MENTIONED ABOVE WHERE THERE IS QUITE A BIT OF INFORMATION THAT IS EXTREMeLY HELPFUL.
Wiki User
∙ 6y ago
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Business Auto Insurance?
form_title=Business Auto Insurance form_header=Business auto insurance covers vehicles used for all types of business purposes. Hit the road today with the right insurance plan for your business. How many autos will be insured?=_ How is this vehicles(s) used in normal business practices?=_
How can I get into the auto insurance business?
You must get a master degree and additional license to get into the auto insurance business.
Is auto insurance required in the state of PA?
Auto insurance is a state law requirement in PA. You are only required to carry liability insurance.
Is full coverage auto insurance required for auto financing?
Yes, full coverage auto insurance is required for auto financing. This rule protects the bank if you have an accident.
What type of training do I need to open my own auto insurance business?
You will need an insurance license and the associated traiing to open an auto insurance business
What is the difference between Business auto insurance vs personal auto insurance?
Business auto insurance coverages commercial vehicles or vehicles used for work. Personal auto insurance coverages a personal automobile that is not used for work related activities.
How do you know if you can be insured to drive a company vehicle?
If you are the owner/operator of your own company vehicle, you purchase auto insurance intended for business. If you're working for a company, they are required by law to either have fleet insurance (insuring large amounts of vehicles), or auto insurance intended for business use regardless of driver.
Is SR22 auto insurance required in the state of Florida after an auto accident?
SR22 auto insurance is definitely required to get through an auto accident in florida, as it is an essential part of paying off the debts of the crash.
What auto insurance is required by Georgia?
You are required to have a minimum of 25/50/25 auto liability coverage.
Where can you find business insurance for vehicles?
One can find business insurance for vehicles or commercial auto insurance at a variety of insurance providers. Some of the companies that offer commercial auto insurance include Progressive and Allstate.
Commerical Auto Insurance?
form_title=Commerical Auto Insurance form_header=Commercial auto insurance is necessary to protect the vehicles used in conducting your business. Have an qualified insurance professional help you decide what type of coverage is right for your business. Type of Business Entity= {(),Corporation, LLC, Sole Proprietorship, Partnership, Non Profit, Trust, Other} Years In Business=_ Do you currently have commercial auto insurance?= () Yes () No
Do I need to purchase auto insurance if I live in PA?
Yes, you are required by law to have auto insurance in the state of Pennsylvannia.
