What does repo insurance cover?

Repossession policies can be customized to include a number of coverages, depending on your needs. Standard coverage usually includes auto and general liabilities (like property damage and bodily injury), but in most cases, repo packages also include some or all of the following coverages:

• Wrongful repossession. This covers losses related to negligence, like repossessing the wrong vehicle or following improper procedure.
• On-hook (and cargo). This covers losses related to towing a repossessed vehicle.
• Drive-away. This covers losses related to driving a repossessed vehicle.
• Garage keepers (direct primary). This covers losses related to storing a repossessed vehicle at your location.

How much does repo insurance cost?

Repossession policies vary greatly in cost depending on your business and the coverage you choose. We know that’s vague, but it’s hard to provide an estimate without accidentally misleading anyone. If you have a minute, give us a call and we can give you a better answer based on your specific details.