Vendors Single Interest

Overview

There is an alternative to lender placed collateral protection insurance.

Vendors Single Interest (VSI) or as it is often called Lenders Single Interest (LSI) insurance is blanket protection for a lender's interest in most types of loan collateral including vehicles, equipment, and other personal property. The product has numerous coverage options including:
  • All Risk Physical Damage
  • Instrument Non-Filing Errors and Omissions (E & O)
  • Skip and Confiscation
  • Repossessed Collateral Coverage
  • Mechanics Lien and Repossession Expense Reimbursement
  • Actual Cash Value (ACV) Waiver

Premium is rated and collected on a per new loan basis or as a factor of monthly outstandings. In most states, the per loan fee may be disclosed and collected from the debtor at loan origination. A number of deductible and limit options are available. To submit an application for the program click VSI Vendors Single Interest Quote under Product Quotes, or click here to submit a quote.