As a lender, you extend credit to your customers every day, but how insulated is your financial institution from risk?
Securian offers several insurance products to help your institution protect against damage or loss to collateral upon which you have a lien. Products are available for individual loans, multiple loans or your entire loan portfolio.
Collateral protection insurance (CPI)
Manage risk to your institution and mitigate potential losses associated with uninsured loan collateral – automobiles, boats (pleasure only), motorcycles, RVs and many others – with our collateral protection insurance product.
In the event a borrower does not maintain adequate comprehensive and collision coverage, collateral protection insurance transfers the risk to Securian. You can add the cost of the insurance to the borrower’s loan balance.
Coverage is available on an individual or blanket basis. We offer a variety of deductibles and additional features including tracking services and conversion, secretion and confiscation coverage.
Vendor single interest (VSI)
Insure your institution’s loan portfolio against losses from uninsured autos, mobile homes, motorcycles, watercraft, RVs, personal property, machine and equipment and other eligible types of collateral using our vendor single interest collateral protection plan.
We offer a variety of coverage options, deductibles, limits and pricing customized to fit your institution’s specific needs.