Automatic Insurance: a managed program for automated protection

The easiest, most efficient way for you to ensure protection for all equipment and commercial-titled vehicles is with Great American’s Automatic Insurance Program. It automates placement, tracking, and verification of insurance when exposure is detected on leased and financed assets.

Simple process

Your business receives a Master Policy* that allows your customer’s leased and financed equipment to be protected under it, thus waiving the requirement for the customer to obtain insurance. This is in exchange for a Program Charge paid by the customer. Coverage is automatically placed and remains in force unless your customer chooses to provide their own insurance. Additionally, placement at the time of contract origination expedites funding – no more delays due to lack of insurance or waiting on customers’ insurance verification.

Ongoing tracking and placement

Insurance is tracked on an ongoing basis and placed whenever a lapse in coverage occurs.

A new revenue stream

Your business can generate significant income in several ways using Automatic Insurance. You can choose to charge an administrative fee payable to your business that is included the customer’s Program Charge. You can also earn interest when you finance the amount owed by the customer. Depending on the structure of your program, other income-generating options may also be available.

Easy system integration

Automated tracking and enrollment in coverage take place through system data transfers between Great American systems and yours — all with the help and guidance of our expert systems integration team.

An easy way to:

  • Ensure coverage on all your assets and reduce risk of loss
  • Expedite funding – no more waiting on customers’ proof of insurance
  • Earn fee income by including an administrative fee in the customer’s Program Charge
  • Eliminate spending your FTE hours tracking insurance – rely on us instead
  • Provide customers a service to help them easily fulfill insurance requirements
  • Have peace of mind knowing that asset protection under your Master Policy* is often broader than coverage under a standard policy obtained by your customer

*Your customer is not an insured, additional insured or third party beneficiary under the Master Policy

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