Where can a new repo company find insurance?

Repo Business Insurance

Here are opinions and answers from FAQ Farmers:

• There is a list of insurance companies who write repo insurance at www.procra.com. Some write new companies but not all of them will. You will likely have trouble obtaining insurance until you have a "loss record" or track history for an insurer to examine. There are less than 10 insurance companies that will write/sell repo coverage. DO NOT CONFUSE tow insurance with repo insurance. If you have a tow policy you are not covered for things like wrongful repossession. Go talk to the guys over at www.procra.com and they will help you out.

• You are required to have wrongful repossession, commercial liability and auto insurance, as well as a dishonesty bond in most states when operating a repo business. Most insurance companies provide both bonding and insurance. You best bet is to go with an agent that you are familiar with or one that was given as a referral by a close friend, relative or business associate. If you are new to the insurance world, call your membership organization (if you belong to one) or your local chamber of commerce for a list of names of reputable agencies. Shop around from there. Make sure all quotes that you receive are provided to you in writing.

• Any company that writes wrecker insurance should do this. Progressive comes to mind.

• What happens if you have passenger insurance on a my truck registered passenger. I use the truck to do landscaping and get in accident will i still be covered?
• What is the price of niobium per tonne?
• Which insurance companies cover non-emergency transportation for transportation providers?