Closing the Gaps Between Auction Possession and Insurance Liability
When a Collateral Recovery Agent is requested to take back a repossessed vehicle from the auction, the below must occur for insurance coverage to apply.
- The lender must reopen the closed order of repossession.
- There must be a new condition report completed and compared to the condition report that was done at the time the auction took receipt of the repossessed vehicle.
Note: The insured’s carrier is not responsible for damages that occur while the auction has possession of the vehicle.
If there is not a written request to reopen the case as well as two condition reports, any potential damages to the repossessed unit may be denied.
We are not able to accept a hold harmless agreement in place of the above requirements. Hold Harmless agreements are not always recognized by the courts and cannot prevent someone from pursuing a lawsuit or filing a claim.
If you have any questions, please feel free to contact me. 
Thank you,

Mike Peplinski
Vice President
315-214-5822 Phone
315-254-8211 Cell
www.hardingbrooks.com





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