In the wake of Hurricane Helene, we are witnessing an unprecedented level of devastation. Entire communities have been wiped off the map, leaving survivors struggling to find basic necessities like food and water. Over 2 million people are without power, and many bridges and roads are impassable or completely destroyed. The hurricane left a 500-mile path of destruction from Florida to North Carolina, leveling everything in its way—including repossession lots.
The repossession industry has been hit particularly hard. Many agents, the backbone of our industry, have been left without access to their lots, unable to assess the extent of the damage. They are facing a heartbreaking reality: their buildings, equipment, vehicles, and personal property have been destroyed. At this moment, these agents are fighting to support their families and employees amidst this catastrophe.
This was an Act of God. It was beyond anyone’s control. Yet, for far too long, agents have been expected to cover the costs of damage they couldn’t prevent. NOW is the time to address this unfair double standard.
The Harsh Reality for Repossession Agents
Agents did everything they could to prepare for the hurricane. They tried to move vehicles off their lots to safer locations, but many auctions refused to accept them, citing storage issues or insurance concerns.
If these vehicles had been moved to an auction lot, the auctions themselves would not have had Garage Keepers Direct Primary coverage to protect against the extensive damage caused by the hurricane.
Now, agents are left facing financial ruin. They have not only lost the vehicles they were storing (often at no cost to lenders), but also their own assets—trucks, equipment, and buildings. Garage Keepers Direct Primary coverage may respond to these losses, but this comes at a steep cost to the agents and the repossession industry as a whole.
If carrier partners require agents to file claims for the cars destroyed on their lots, they will face significant increases in their insurance premiums.
Moreover, the deductibles alone can be staggering, sometimes exceeding $50,000. For programs with no “Per Claim Cap,” the financial burden could be insurmountable. These agents provided free storage to lenders, and now they are asked to pay the price for an Act of God they had no control over.
A Call for Unity and Support
Now is the time for the repossession industry to come together and support one another. We call on lenders, auctions, and all stakeholders to recognize this situation for what it is: an extraordinary natural disaster that no agent could have prevented. We urge you not to capitalize on this tragedy by pushing financial responsibility onto agents who are already struggling to rebuild their lives and businesses.
Instead, we ask for your support. Donations to relief funds are desperately needed to assist those in the areas hardest hit by Hurricane Helene. This is an opportunity for the entire industry to show compassion and solidarity. Let’s work together to provide the relief and support our agents need to weather this storm and rebuild for the future.
It is time to end the double standard that has been putting good agents in financial jeopardy for too long.
Let us not compound their loss by cashing in on an Act of God that was beyond their control. The market has changed, and so must our expectations and support for the agents who serve it.
Together, we can rebuild stronger. But that strength will only come from unity and fairness.
Vaughn Clemmons
ARA PresidentÂ
Expectations from Carrier Partners After Hurricane Helene – Expectations from Carrier Partners After Hurricane Helene – Expectations from Carrier Partners After Hurricane Helene
Expectations from Carrier Partners After Hurricane Helene – Repossess – Repossession – Repossession Agency – Repossessor – American Recovery Association – ARA
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