Auto Physical Damage Coverage

damaged vehicle service

Guaranteed-issue physical damage coverage for autos and other consumer collateral.

Features

Physical damage coverage (collision and comprehensive)

Voluntary enrollment or placed when borrower lacks auto insurance

Monthly pay or annual renewable premium

Simple rating methods: flat monthly amount or percentage of the loan balance

All borrowers qualify for coverage, regardless of credit or driving history

Quick and easy coverage enrollment or cancelation via website

Benefits

Speeds up the loan approval process and funding

Insures physical damage protection in place at start of the loan

Avoid repossession by repair of partially damaged vehicle

Reduces uninsured collateral loss write-offs

Borrower pays for coverage; not the lender

Can be combined with a Blanket Single Interest coverage

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