Protects from uninsured losses and eliminates tracking insurance on loans/leases when equipment is held as collateral. The blanket aspect of this policy eliminates negative contacts with the borrowers/lessees as well as time and resources required to adequately track collateral policies. The coverage also satisfies auditor and examiner requirements for collateral insurance.
Physical damage and forcible entry theft evidenced by a police report are covered provided the claim is submitted within 60 days of the date of loss. Common causes of physical damage include collision, rollover, and fire. All losses are covered unless excluded and common claims occur when:
- Equipment is damaged
- Borrower/Lessee does not have adequate insurance at date of loss
- Secured interest has been impaired by repossession
INSURANCE VERIFICATION AND TRACKING
Administrative steps for verifying and tracking insurance policies may be eliminated.
Our insuring partner has maintained an “A” (Excellent) rating or higher from A.M. Best Company for over 100 years.
Golden Eagle Insurance Claims are easy to file and we are here to help every step of the way. Our dedicated claims director follows the claim from start to finish.