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| Products -> Transportation -> Towing & Recovery Program -> Recovery Specialist & Repossessor Program
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Recovery Specialist & Repossessor Program
The 5Star Repossessors Program provides coverage for GL, garagekeepers, on-hook, personal effects and drive away.
This protection is offered through an admitted A.M. Best A XI carrier with in-house underwriting for quick turnaround. We have solutions for the specialized insurance needs for most repossession recovery operations.
Eligible ClassesAvailable Products
- Auto Liability
- Crime
- Drive Away Liability
- Garagekeepers
- General Liability (including wrongful repossession)
- Inland Marine (including personal effects)
- Property
Program Highlights
- Provides required limits set forth by the industry for wrongful repossession and on-hook cargo
- A.M. Best A XI rated carrier
- Competitive rates
- Flexible package policy
- In-house binding authority for quick turnaround
Program Parameters
- Limits:
- Auto Liability: $1,000,000 CSL
- General Liability: wrongful repossession $1,000,000/$3,000,000 aggregate (AL and GL excess available)
- Drive Away Liability: $1,000,000
- Garagekeepers: $1,000,000
- Property: no min/max
- On-Hook Cargo: $1,000,000 per vehicle
- Deductibles:
- Comprehensive/Collision: $1,000 min/$5,000 max
- On hook cargo: $1,000 min (except in Oklahoma, $500 deductible applies)
- Personal property of others: $500 or $1,000 (subject to limit of coverage)
- Account Size:
- Non-fleet operations (policies with 4 or less trucks)
- Fleet operations (policies with 5 or more trucks)
- Premium referral parameters set by carrier
- Minimum 5 years in business with established contracts in place through major lenders
Ineligible Classes*
- Any operation that:
- Has been in business less than 5 years
- Performs 100% drive away
- Is not a member of a national affiliated association
- Permits drivers/adjusters to carry hand guns during the course of a repossession (a weapons policy must be in place)
- *Including but not limited to those listed
Submission Requirements
- A completed submission should include but not limited to the following:
- Fleet and non-fleet accounts - completed application
- Fleet- MVRs ( for quote purposes these do not have to be current)
- 4 years current loss runs and must be currently valued (ran/dated within the last 60 days)-- Loss runs should be provided by the prior carriers and should include descriptions for all claims listed. If descriptions of losses are not provided please include this detail with the submission
Availability
- Nationwide except AK, HI, LA, MA
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