The Dealer Risk Management Group
A Simpler Way of Doing Things
What is Single Interest Insurance?
Single-Interest Insurance, also known as collateral protection insurance (CPI), is a type of coverage that a used auto dealer or lender places on a vehicle when the buyer fails to maintain the required insurance.
The main goal of single-interest insurance is to protect the lender’s investment. This policy protects the dealer’s financial interest in the vehicle.
If a customer allows their insurance to lapse or provides insufficient coverage, the dealer can enforce this insurance to ensure the asset is still protected from loss or damage.
Benefits
Covers All-Risk Physical Damage
Risk Mitigation
Premiums may be pass on to the borrower
Customization Options
Claims Processing Support
Accounting
Compliance
Web-Based Portal
