Where can a new repo company find insurance?

* Personal lines insurance: This type covers accidents involving vehicles that the repossession agent drives.

* Garage keepers liability insurance: This type compensates for damage to vehicles in the repossessor’s care, custody or control.

* General liability insurance: This covers personal injuries that happen on locations associated with the repossessor’s business.

* Errors and omissions insurance: This type covers mistakes or negligence by your employees or agents that result in financial losses.

* Worker's compensation insurance: This type covers your employees for work-related injuries and illnesses.

* Surety bonds: Some states require repo agents to secure a surety bond.

*The best way to find affordable repo company insurance is to shop around and compare quotes from different companies.* Many factors will affect your insurance rates, such as the size of your business, the number of vehicles you repossess, and your claims history.