In the U.S. more than two million vehicles are repossessed every year. Over the past five years, an expanding economy and consumer spending have resulted in a larger volume of debt, increasing the market for repossessions while growing industry revenue by an annualized rate of 4.3% to $1.6B. With yearly repossession rates at 65% compared to yearly new car sales, this means that for every 2.4 cars sold, one existing vehicle on the road will be repossessed.
TUMI, part of the Amwins Underwriting division, offers an exclusive repossession program that is distributed through a select group of retail brokers. Repossession contractors deal in a line of work that involves unpredictable risk and varying degrees of volatility. Our experts have been underwriting repo business since 2008, providing tailored solutions for both small and large fleet accounts. We offer a wide range of insurance solutions that save your clients time, hassle, and money so they can focus on the day-to-day operations of their business.
The program is available in most states
A.M. Best rated "A" (Excellent)