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How can I make sure that a repossession agency is properly insured?

April 26, 2017agency insured properly repossession sure

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How can I make sure that a repossession agency is properly insured?

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Have the agency instruct its insurance company to provide you with a certificate of insurance. The certificate should show your lending institution as the Certificate Holder, and should be sent to you directly from the insurance company. You should never accept certificates without your institution’s name shown as Certificate Holder (Blank Certificates), and you should be very skeptical of the validity of certificates not sent directly to you by the insurance company. Additionally, you should make sure that coverage includes drive-away and wrongful possession.