0
Where can you obtain bonding and insurance for a repossession business?
Wiki User
∙ 7y ago
Repo Business Insurance You can also contact me! I represent an Industry driven Program that was designed to package all of the coverages that are required by the major lendors. The hard coverages to acquire through your average broker are the wrongful Repossession and the Drive away coverage. This is a national program and writes as an admitted carrier in all but 5 states. Feel free to contact me with any questions that you may have i will be happy to help you out. My contact info is Michael@glbins.com 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. You best bet is to go with an agent that you are familiar with or one that was given as a referral by a close friend, relative or business associate. 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. Here is an additional opinion from another FAQ Farmer:
- Most schools that offer licensing of insurance and sorts would be the best place to call, they will tell you where you can get them and they are not motivated by price.
Wiki User
∙ 7y ago
Add your answer:
Earn +20 pts
What are the Repo business requirements in Florida?
In Florida, repossession businesses are regulated by the Florida Department of Agriculture and Consumer Services. To become a licensed repossession business in Florida, you must meet certain requirements: Complete a training course: All applicants must complete a 40-hour training course on repossession techniques, legal procedures, and safety. Obtain a surety bond: Applicants must obtain a surety bond in the amount of $25,000. Pass a background check: All applicants must pass a background check, which includes a criminal history check and a credit check. Obtain insurance: Applicants must obtain liability insurance in the amount of at least $50,000 per person and $100,000 per incident. Submit an application: Applicants must submit an application to the Florida Department of Agriculture and Consumer Services, along with the required fees and supporting documents. Obtain a license: Once the application has been approved and all requirements have been met, the Florida Department of Agriculture and Consumer Services will issue a repossession business license.
What are the benefits of doing business with the Hartford Life Insurance Company?
The Hartford Life Insurance Company has numerous benefits including different plans with various prices that can help anyone to obtain life insurance at a reasonable price.
What is needed to start a vehicle repo business in Illinois where would I obtain the insurance for the business?
Some useful links to Illinois' small business information: http://business.illinois.gov/ http://www.ilsmallbizadvisor.biz/ilsttemp/ http://www.illinoisbiz.biz/dceo/
How can one obtain premium whole life insurance?
One can obtain premium whole life insurance through their current insurance company. Several companies such as TD Insurance and BMO Insurance, offer great rates.
Can one obtain life insurance coverage from Prudential?
"Yes you can obtain life insurance from Prudential. Questions you should ask yourself include how much life insurance do I need, Do I need life insurance for my family."
What are the Repo business requirements in Florida?
In Florida, repossession businesses are regulated by the Florida Department of Agriculture and Consumer Services. To become a licensed repossession business in Florida, you must meet certain requirements: Complete a training course: All applicants must complete a 40-hour training course on repossession techniques, legal procedures, and safety. Obtain a surety bond: Applicants must obtain a surety bond in the amount of $25,000. Pass a background check: All applicants must pass a background check, which includes a criminal history check and a credit check. Obtain insurance: Applicants must obtain liability insurance in the amount of at least $50,000 per person and $100,000 per incident. Submit an application: Applicants must submit an application to the Florida Department of Agriculture and Consumer Services, along with the required fees and supporting documents. Obtain a license: Once the application has been approved and all requirements have been met, the Florida Department of Agriculture and Consumer Services will issue a repossession business license.
Where can one obtain business commercial insurance?
One can obtain business commercial insurance from many of the same insurance companies people use for home or auto insurance. Some of these companies include Nationwide, All State, Farmers, State Farm, and Progressive.
How do you become a Repossession Agent or Repoman in Miami FL?
Usually Repossession agencies look for Repoman that have their own truck with a wheel lift and show proof of insurance. Recovery agents should obtain a Class A license.
How do you get business insurance for your security company?
Im looking into starting my own security company and may employ persons with concealed weapons permits....how do obtain insurance for such business?
Can a repossession agent cut locks or cables to obtain a repossession?
if i understood what i have been told they can not destroy your property to obtain the investment they are repossessing.The recovery papers are to obtain legal possession of the vehicle mentioned in the orders.
Where can one purchase internet business insurance?
One can purchase internet business insurance online by visiting the Tech Insurance website. One can also visit the Net Quote website to obtain a quotation for a specific term of insurance.
What type of insurance can one obtain from Unity Insurance?
Unity Insurance Group offers all types of insurance policies including home insurance, auto insurance, liability insurance, health insurance, and even business insurance.
How do you get bonded and insured?
You can purchase business insurance and bonding through an insurance broker which can be found online or by a referral from a friend who also owns a business. It is easy to purchase insurance but bonding can be more difficult as bonding is a form of credit. If you have poor credit, you may want to pull your credit and work out any credit issues before you try to apply for bonding. The process of getting insurance or bonding are both basically the same, fill out applications which the broker submits to different carriers to get you quotes. You review the quotes, select which ones you want, then sign all the forms and cut a check for the insurance broker to buy the bonds or policies for you.
Do you have to have a business name to take out general liability ins?
A business name is not required to obtain general liability insurance for your business. It is recommended that you incorporate your business to limit your liability.
How do you obtain a Pennsylvania Vehicle Repossession License?
you have to get a speeding ticket in Pennsylvania
Can you obtain a repossession license if you have a criminal record?
http://wiki.answers.com/Q/Can_you_obtain_a_repossession_license_if_you_have_a_criminal_record"
Where can one get insurance from More Than?
The insurance company More Than offers personal and business insurances. One can obtain an insurance online by filling out their insurance form on their website. They offer life insurance, car insurance, pet insurance, travel insurance, home insurance and many more.
