Collateral Protection Insurance

If you finance or lease cars, trucks, and equipment you take on plenty of risk. Your collateral is highly mobile, easy to hide, easy to wreck – and all too often – uninsured. Berkshire Risk’s Collateral Protection Insurance (CPI) will minimize the risk of uninsured physical damage, and lets you directly insure collateral when your customer’s insurance cancels, expires, or is missing.

 
 

Quick & Easy

  • Identify your uninsured autos, new sales with no insurance, and/or existing accounts with cancelled policies

  • Order CPI coverage through daily or weekly DMS reporting

  • Report and remit CPI premium monthly in arrears as collected with no credit risk or cash flow burden

  • Berkshire Risk mails CPI placement disclosures

CPI Benefits

  • Broad “All-Risk” physical damage coverage with no excluded drivers

  • Fixed monthly premiums

  • Lightning fast claim turnaround

  • CPI is re-insurable

  • Additional optional lender coverages

CPI IS:

  • Physical damage insurance

  • Added by the creditor, and charged to the debtor

  • Protects the creditor’s interest in the collateral

  • Due to the debtor’s insurance default