Vendor's Single Interest – VSI

VSI is a blanket vendor's single interest policy written to cover a lender's complete vehicle portfolio. It protects against the risk to certain loan collateral where the borrower has failed to secure and maintain required insurance coverage.

Since 1956, Ohio Indemnity Company has helped safeguard lenders as the leading provider of blanket VSI insurance using our trademarked program Ultimate Loss Insurance®.

What does VSI cover?
  • Collateral Physical Damage – losses from theft or physical damage to repossessed collateral where the borrower has failed to secure and maintain required insurance coverage.
  • Confiscation – loss due to the lender’s inability to repossess a vehicle because the vehicle has been confiscated by a government official or court and the vehicle cannot be released to the lender.
  • Skip – loss due to the lender’s inability to repossess a vehicle because the lender cannot locate the borrower, co-borrower or collateral.
  • Security Interest Non-Filing - loss due to the lender’s inability to repossess a vehicle due to an inadvertent failure by the lender or a government agency to protect the lender’s interest.
  • Conversion – loss due to the lender’s inability to repossess a vehicle because the transfer of ownership to an innocent third party.
  • Repossessed Property – loss due to damage or theft of collateral while in the care, custody and control of the lender after repossession has occurred.

VSI coverage is available for automobiles, light trucks, watercraft, recreational vehicles, personal property, farm equipment, motorcycles and mobile homes and other collateral types.

VSI Programs

Traditional VSI – Provides coverage for the lender's automobile portfolio from the inception of the policy through policy termination.

Life of Loan VSI - Provides coverage for the entire term of the loan, regardless of policy cancellation.