Inventory Protection Program
Our Inventory Protection Program is a lender-focused product that provides physical damage coverage for several classes of inventory including:
- Industrial
- Marine
- Computers
- Motorcycles
- Snowmobiles
- Golf Carts
- Lawn & Garden Equipment
- Music Equipment
- Office Automation
- And other types of inventory
(as approved)
The lender is the named insured on the group master policy and a certificate is issued for each dealer/borrower participating in the program. Coverage may include:
- Broad Form – Covers against perils such as fire, lightning, windstorm, hail, explosion, riot or civil commotion, smoke, vandalism or malicious mischief, theft, earthquake, forced landing or falling of aircraft, and flood.
- Comprehensive Coverage – Except collision, upset, or those causes of loss listed in the exclusions.
- Collision Coverage – While property is in transit.
Benefits
- Excellent coverage underwritten by an insurance carrier with an A.M. Best Rating of "A".
- Risk management and risk reduction.
- Profit-enhancing opportunity.
- Flexible deductibles at affordable prices.
- Financial interest protection of both lenders and dealers.
- Convenient monthly premium payment options for the insured.
- Options for including the premium in the dealer’s monthly invoice.
- Prompt and fair claims settlements.