VSI
Vendor Single Interest
GAP
Guaranteed Auto Protection
CPI
Creditor Placed Insurance
EPD
Equipment Physical Damage
CPI is a single or dual interest collateral protection program for lenders. It protects lenders against loss on automobiles or other personal property pledged as collateral, in cases where the borrower has failed to secure or maintain required insurance coverage.
Collateral Physical Damage
Losses from theft or physical damage to repossessed collateral where the borrower has failed to secure and maintain required insurance coverage.
Waiver of Repossession
Waives the requirement for the lender to repossess the collateral to submit a claim creating a dual interest program.
Actual Cash Value Waiver
Increases the claim payment for total losses to be the loan balance rather than the Actual Cash Value of the vehicle.
Pro-Rata Coverage
Allows return premium for cancellations to be calculated on a pro-rata basis.