Kirkland, WA, June 20, 2019 -- instaCOVER, LLC announced today the release of their new Vehicle Protection Program providing specialized insurance for leased and financed commercial vehicles and trailers. The new program utilizes instaCOVER’s technology to allow lease brokers and funders to acquire coverage. The coverage fulfills the insurance requirement for funding and expediting the process. “The leasing industry has been asking us for a titled vehicles solution for a long time. We are thrilled to now have vehicles and trailers as part of our program,” said Craig Wainscott, instaCOVER’s CEO.
The coverage is underwritten by Great American Insurance Company, an A+ rated insurance company (rating affirmed by A. M. Best, as of 8/17/18) and member of Great American Insurance Group. Great American offers specialty products and services for the equipment lease and finance industry. “We are proud of our long-standing relationship with instaCOVER, and we are excited to underwrite their new commercial titled vehicle program, which accelerates the leasing transaction,” said Vic Villegas, President of the Specialty Equipment Division at Great American.
The Vehicle Protection Program (VPP) protects lease & finance companies against the risk of uninsured physical loss or damage to titled vehicles and trailers. It also provides optional single interest vicarious liability for most types of trailers, satisfying the insurance requirement in the finance agreement. VPP can be used by lease brokers and vendor programs to offer point-of-sale coverage to expedite the funding process. Funders can also use VPP to proactively cover individual assets if there is insufficient or lapsed coverage.
Lease brokers, funders and vendor program managers who lease titled vehicles should contact Craig Wainscott, instaCOVER’s CEO, for more information: craig.wainscott@instacover.com
About instaCOVER, LLC
instaCOVER is an insurance agency and technology company offering innovative programs to a variety of industries. They offer the most advanced insurance platform in the leasing industry allowing lease brokers, funders and vendor programs the ability to offer customers specialized insurance for their leased/financed assets. In addition to leased assets, instaCOVER has specialized products for medical equipment, rental programs, and they are a program administrator for warranties and service contract programs.
About Great American Insurance Group
Great American Insurance Group’s roots go back to 1872 with the founding of its flagship company, Great American Insurance Company. Based in Cincinnati, Ohio, the operations of Great American Insurance Group are engaged primarily in property and casualty insurance, focusing on specialty commercial products for businesses, and in the sale of traditional fixed and fixed-indexed annuities in the retail, financial institutions, registered investment advisors and education markets. Great American Insurance Company has received an “A” (Excellent) or higher rating from the A.M. Best Company for more than 100 years (most recent rating evaluation of “A+” (Superior) affirmed August 17, 2018). The members of Great American Insurance Group are subsidiaries of American Financial Group, Inc. (AFG), also based in Cincinnati, Ohio. AFG’s common stock is listed and traded on the New York Stock Exchange under the symbol AFG.
Policies are underwritten by Great American Insurance Company, an authorized insurer in all 50 states and the D.C. Great American Insurance Group, 301 E. Fourth St., Cincinnati, OH 45202.