Best Answer

Here are a few ideas:

  • Some insurers write new companies, but not all of them will. You may have trouble obtaining insurance until you have a "loss record" or track history for an insurer to examine. DO NOT CONFUSE tow insurance with repo insurance as they are different for example, if you have a tow policy you are not covered for things like wrongful repossession.
  • You are required to have wrongful repossession, commercial liability and auto insurance, as well as a dishonesty bond in most states when operating a repo business. Most insurance companies provide both bonding and insurance. It is usually best to use an agent that you are familiar with or one that was given as a referral by someone that you trust. If you are new to the insurance world, call your membership organization (if you belong to one) or your local chamber of commerce for a list of names of reputable agencies. Shop around from there. Make sure all quotes that you receive are provided to you in writing.

    Be certain that any insurer with which you do business is authorized (licensed) to transact insurance in the state in which the policy is issued. There are many entities that look like real insurers, but are fake and which only exist to take premium dollars. The only way to be sure is to verify with your Department of Insurance.

    You need a insurance broker that specializes in this line of insurance.

Few companies will give the coverages that are required by the banks to run a Reposession company. Many companies that do towing risks will tell you that they will look at the risk and quote it for you but will not offer the Drive away coverage, wrongful tow coverage.

User Avatar

Wiki User

โˆ™ 2010-12-16 16:51:00
This answer is:
User Avatar

Add your answer:

Earn +5 pts
Q: Where can a new repo company find insurance?
Write your answer...

Related Questions

Where can I find a list of insurance company names?

The best way to find a new insurance company is to look in the yellow pages at the local insurance companies and then compare the reviews for them on the internet.

Where can I find information on new driver insurance?

You can get information related to young driver insurance at compare market insurance.

What is the best value insurance company in NJ?

To find the best value insurance company in New Jersey visit the New Jersey dmv site. This site will guide anyone looking for insurance to contact the right companies or agents to find cheap insurance.

If 182 is the insurance code in New Jersey what is name of the insurance company?

New Jersey Manufacturers Insurance Company

How do you find the Name of insurance company with the insurance code?

You can enter a search on Yahoo or google for Insurance Company Codes and your state. I entered a search for New York and New Jersey and Was able to get the name of the insurance companies I was looking for. Hope this helps.

What insurance company has 999 company code?

New Jersey Automobile Insurance is the Insurance Company that has 999 Company Code.

Does an auto insurance company have to pay for a deaf interpreter to find a new vehicle after yours has been totaled?

What. Why would you think this is required? An insurance company will not find you a new vehicle is your is totaled, they will pay you the actual cash value of the vehicle you had.

What is the motto of New York Life Insurance Company?

The motto of New York Life Insurance Company is 'The Company You Keep'.

If you are moving to another state how can you change your automobile insurance?

If your insurance company is a nationwide company, simply update your address with them. If it is a smaller company that does not have coverage where you are moving to, then find a new insurance carrier where you are moving to, then cancel your old one.

When was car insurance company Prudential established?

The car insurance company, Prudential, was established in 1875 in Newark, which is in New Jersey. You can find this information in online encyclopedias such as Wikipedia.

What insurance company has insurance code number426?

New Jersey Manufacturers Insurance Company is code 426.

What do you need to start a repo company in New Jersey as far as licensing and such?

You have to pay for that information. The repo biz is a private and sercet biz.

What is the population of New Jersey Manufacturers Insurance Company?

The population of New Jersey Manufacturers Insurance Company is 2,500.

When was New Jersey Manufacturers Insurance Company created?

New Jersey Manufacturers Insurance Company was created in 1913.

When was New York Life Insurance Company created?

New York Life Insurance Company was created in 1845.

Is there a low-cost, popular car insurance company in New Jersey?

There is a low-cost, popular car insurance company in New Jersey. Allstate, a very popular insurance company, has offices in almost every state in the country. You could find them, and they have a very low cost insurance plan that is perfect for everyone.

What if you have new insurance and were in an alone accident will the new Insurance company investigate you?


Where is the best place to find new insurance?

There are many places one might go to find new insurance. In addition to online companies such as eSurance, one might also try the Progressive company.

How you can find out car insurance with policy no if you delete your mail information by mistake?

Just telephone your insurance company and they will give the information you need as well as a new insurance card.

What company in New York offers the best auto insurance?,, and will allow you to find the least expensive insurance in your area.

Where is the headquaters for the New York Life Insurance Company located?

The headquarters for the New York Life Insurance Company is located at 51 Madison Avenue, New York. The insurance company has been in business for many years.

Is Allstate Insurance Company a Public company?

Allstate insurance company is a public company traded on the New York Stock Exchange.

Where can one find cheap car insurance in New York?

Car Insurance in New York must be purchased from a legally authorized company within the state of New York. Authorized companies included Geico and Nationwide Insurance.

What company has new york state insurance code 459?

Progressive Direct Insurance Company

As a New York statedriver who pled guilty to a speeding ticket in Virginia and is about to switch car insurance companies with no points on your license will the new insurance company find out about y?

== == If you fail to be TRUTHFUL in your application to the new company, and they do FIND OUT ABOUT IT, they will drop you like a dead fish. And then you will be out in the cold, with no hope of getting ANY insurance coverage. Tell the truth, and get on with it, and remember to slow down.