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The Collateral Protection You Need

Does your institution have the financial protection it needs? If you are somewhat unsure of the answer, turn to the professionals at R. G. Courter & Co. of Kansas City, Missouri. We provide lenders like you with single interest insurance that offers the collateral protection you want. In addition to Missouri, services are available for lending institutions in Colorado, Nebraska, Kansas, Wyoming & Iowa.

Lender's Single Interest (L.S.I.) Insurance

This is an insurance product financial institutions utilize for protection against uninsured collateral in their loan portfolio. The insurance is written on a "blanket" basis and provides insurance on all eligible collateral in the loan portfolio. Some of the advantages of this insurance product for the lender are:

  • Physical Damage Insurance for All Eligible Loans in the Portfolio
  • Coverage for Impairment of Interest on Titles
  • Coverage for Skips, Confiscation, and Repossessed Property
  • Eliminates the Costly Insurance Follow-Up
  • Impacts the 'Bottom Line' on Repossessions
  • No Adding or Refunding Premiums on a Customer's Loan
  • No Deductible to the Lender
  • No Computer Program to Install or Keep Updated

Additional Advantages

R. G. Courter & Co personally handles all sales, service, and claims. This gives us the ability to make sure everything is done right and claims are processed quickly and settled correctly.

Lender's Single Interest Insurance complies with the legal requirements of Regulation Z. The financial institution will need to consult with their state to determine the legality of passing the premium on to their customers.

Insurance Coverage

All Risk Physical Damage
Direct, sudden, and accidental loss to the insured property caused by an external source except as excluded by the Master Policy.

Instrument Non-Filing
Indemnifies the lender against any impairment of interest by reason of having in good faith and in the usual course of business extended credit upon a legally executed and enforceable instrument as security for a loan.

Confiscation and Skip
If the collateral is confiscated by any legal authority and they will not return the collateral, we will pay the loss per the claim settlement options in the Master Policy.

The property and/or the customer must be located within 60 days after the complete claim is submitted to the insurance company. If either is located within the 60-day period, the company shall have no further liability.

Repossessed Property
Any insured property has coverage for 60 days after repossession.

Optional Coverage

Broad Form Skip and Conversion
The property must be located within 60 days after the complete claim has been submitted to the company. If the property is located within the 60-day period, the company shall have no further liability. If the customer converts any or all of the collateral, we will pay for the loss as outlined in the claim settlement options in the Master Policy.

Extended ACV Settlement
The claim settlement option of Actual Cash Value will use N.A.D.A. Retail Value, instead of the average between N.A.D.A. Retail and Wholesale Value.