Vendor Single Interest

Blanket Auto Insurance: Vehicle Single Interest (VSI).

Arcana’s Vehicle Single Interest (VSI) automobile insurance provides lenders with flexible programs designed to cover virtually any type of risk, including physical damage, skip, repossessed property, and non-filing errors and omissions. Our program includes :

  • Coverage for new and existing loans
  • Simple, monthly reporting form
  • No insurance tracking or follow-up required

Key coverages include :

  • Physical damage
  • Instrument non-filing insurance
  • Skip and confiscation
  • Damage after repossession

Optional coverages include :

  • Assumption of risk
  • Mechanic’s lien
  • Repossession expensive reimbursement
  • Waiver of ACV settlement option for totals or unrecovered thefts

Plan features include :

  • Premiums based on number of loans per month or portfolio outstanding balance
  • Low deductibles available
  • Additional types of collateral eligible on request
  • Rate flexibility based on loss experience
  • Loan coverage up to 84 months
  • ACV loss settlement waived with addition of GAP coverage