Press Release
RSIG requires members and most national client contracts require repossessors to have $1,000,000 in commercial auto coverage for scheduled vehicles or “owned-autos” a/k/a your tow trucks, spotter vehicles and camera cars. Repossessors have often tried to minimize insurance costs by just having a towing policy, which they believe covers repossession activities. And for years towers have used their towing policy to try to get into doing repossessions, without having the same coverages and costs associated with their policies.
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