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Blanket portfolio protection of commercial loan or lease collateral without the need to monitor insurance.
Features
Uninsured physical damage and theft coverage, with no insurance tracking required
High limit of loss available
Covers all types of commercial equipment / collateral and business lease assets
Simple monthly or annual premium
Benefits
Blanket portfolio protection of various commercial loan collateral or leased assets
Eliminates insurance tracking resulting in internal cost savings
Shields the lender from an unexpected and significant write-off
Types of Collateral Covered
Truck/Equipment
Construction
Excavation
Agricultural
Medical / Dental
Computers / Telecom
Office Furniture / Equipment
Fitness & Sports
Dry Cleaning
Retail Fixtures
Restaurant
Specialty Tools
Maintenance
Entertainment
Livery / Delivery
Landscaping
Raw Materials
Landscaping
Manufacturing
Printing
Auto Repair
Audio Visual
Logging
Milling
Machining
Inventory
What Lenders Should Know About Commercial Blanket Lenders Single Interest Coverage
Commercial property owners, developers, and investors can’t afford to be without blanket portfolio protection. Not only can Commercial Blanket Lenders Single Interest coverage eliminate a major source of headaches and expenses for lenders, but it can also provide them with all-inclusive protection against an unexpected write-off if a covered property is damaged or destroyed. Without this coverage, a loss that occurs to an investor’s property could jeopardize the developer or owner’s ability to repay the outstanding loan balance.
What is Commercial Blanket Lenders Single Interest Coverage?
Blanket Lenders Single Interest (LSI) coverage guards a lender’s entire consumer portfolio against uninsured losses and repossessed collateral. When a lender purchases a Commercial Blanket LSI policy, it will automatically cover both new and existing loans, essentially eliminating the need to track insurance coverage for each project and request force-placed policies when necessary. Commercial Blanket LSI coverage can even include skip-tracing and tracking services for lenders who wish to exercise their option to locate and repossess their collateral.
Although the construction and commercial real estate industries have been in a market upswing since the Great Recession, everything from zoning regulations to tariffs and material shortages can make these projects risky for lenders. Luckily, a blanket insurance policy (often referred to as Vendors Single Interest) can provide greater peace of mind by protecting against any uninsured losses and delegating the duty to track insurance to prevent lapses in coverage.
View our Blanket Lender Single Interest Policy coverage page to read more about how this coverage can affect your business’s bottom line.
Types of Coverage Under a Commercial Blanket Lenders Single Interest Policy
Commercial Blanket Lenders Single Interest coverage includes:
- Blanket coverage from all uninsured physical property damage and theft, including vandalism.
- Coverage for all types of commercial equipment and collateral, including business lease assets (like trucks and equipment, computers and telecom systems, office furniture and equipment, and specialty tools).
There’s no one-size-fits-all policy that’s right for every lender, which is why we offer flexible plans that can be customized to meet your needs. Contact us today to learn more about our services or to request an individualized quote from one of our agents.