What is repossession insurance?

Answer by  Rubberchicken (819)

Repossession insurance is a policy that an entity or individual in the repossession industry obtains to provide liability coverage, wrongful repossession coverage, garage keepers, and other general business coverages in the same policy.

Answer by  ravishanker (155)

It is a type of insurance for recovery,tow truck,trucking,garage and employment practices insurance by the Aeon insurance group. It is a recovery specialist insurance group(RSIG)- specializing in Repossession insurance and Repo certification for the professional repossessions.

Answer by  alexacalhoun (17)

Repossession insurance is carried by professionals in the repossession business, which covers a variety of possible liabilities that may occur, such as wrongful repossession.

Answer by  ATOZXROD (19)

Repossession insurance protects you from the risk that your property will be repossessed as a result of your inability or unwillingness to fulfill your promise to repay the lender according to the terms of the agreement.