Tri-Arc Financial Services, Inc.

The BVSI policy provides all-risk physical damage protection for the Lender for the most common types of collateral. Eligible collateral includes private passenger automobiles and light trucks, motorcycles, commercial vehicles, motor homes, boats, and trailers. Real property, home investments, securities, animals, collections, and household goods are not covered under the BVSI policy.

The following represent the major coverages in the BVSI program:

All Risk Physical Damage Insurance
This coverage protects the Lender from all risks of physical loss or damage from any external cause to vehicles held as collateral for an installment loan. Coverage is continuous on loans originating on or after the effective date of the BVSI program, as long as the BVSI policy remains in force.

Repossessed Property
The protection afforded by the BVSI policy is automatically extended for a period of ninety days after you take possession of your collateral.

Instrument Non-Filing Insurance
Provides coverage in the event the Lender is prevented from repossessing the vehicle or exercising its rights solely because the Lender has unintentionally not filed its lien with the proper public office.

Conversion and Confiscation
Covers the Lender against losses due to the inability to locate the collateral, owner, or cosigner. Previous experience shows that losses under this blanket coverage may be very high, and may threaten the program’s stability.

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