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Contact a few agents in your area if they do not sell this product they will likely be able to refer you to an agent that does.
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∙ 16y ago
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What type of insurance do you need in Wisconsin to do vehicle repossession work?
Not sure if Wisconsin requires any special type of insurance, however, most states do have a minimum required limit. Check with your state department of public safety. Also, many lenders won't use you unless you have $1,000,000.00 plus insurance, $1,000,000.00 plus professional liability (wrongful repo insurance). It is NOT a cheap business to get into.
If your car has been repossessed do you have to keep car insurance on it?
no, but it is recommended. the repo co has insurance and is bonded for this type of situation. you will have to provide proof of repo to your insurance co.
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/
Is it hard to start your own repo business?
Any business is hard work to open so a repo business would be hard to open as well.
Can your car be repo if you have no insurance?
The repo man will not care if your car has insurance or not. If you haven't been paying for your car, the finance company or bank will take their car back.
Where can you purchase the required insurance in Illinois for your repo business at reasonable rates?
I dont know what you consider "reasonable", but, IF they can write in IL, this is a good bet. http://www.ocalainsurance.com/
Can you repo an auto in Mississippi for no insurance?
Yes, If your auto finance contract requires you to have insurance on the vehicle and you fail to meet that obligation they can certainly repo the car for violation of your contract terms.
How do you start a car repo business in new york?
do I need to be bonded in nystate for repo cars
How much is the average price of repo insurance?
1 mil
Can you be charged a repo and insurance fee when the original owner never notifid you of the repo and drove the vehicle away herself?
I'm not sure what your question/situation is but... The Finance company can do what's called "forced insurance" meaning if you do not have insurance they will put insurance on the vehicle at a hefty cost to you. They can also repossess the vehicle even if you are up to date in payments but do not pay them their insurance rate.... and that money is still owed after the repo.
Do you have to be bonded to repo cars in Ohio?
bonded .... no.... but you must have the correct insurance... ask any insurance agent for help with this.... i am a repo man and to work for any Bank you must carry a million dollar insurance policy.... yes... i said 1 MILLION DOLLARS
What is repomo?
Repo is an agreement in which one party sells a security to another party and agrees to repurchase it on a specified date for a specified price. A repurchase agreement, also known as a repo.
