ADI has the experience to handle the unique ownership of a national fleet
Lenders are one of the largest owners and sellers of used heavy equipment. Through end-of-lease returns, voluntary customer returns and repossessions, banks, finance companies and leasing companies hold title to a huge fleet of equipment. The economy has a direct and immediate impact on the size and composition of a lenders' fleet. As one of ADI's target customers, insurance products have been created to deal with the constantly changing risk of ownership unique to a lender in the equipment industry.
Unlike virtually every other owner of equipment, lenders do not take physical possession of equipment when they take ownership of the title. Most often the equipment is stored on the lot of equipment dealers and auction companies where much of it will be sold. Equipment will be held in a bailee relationship in every city and state.
ADI has written policies, which address the unique ownership and storage of the equipment. The coverage is broad with coverage for all perils a national fleet will face.
National insurance companies are partners with ADI in the lenders inventory program to provide the service required of a national fleet. Claims and loss control expertise is dispersed across the country to provide service knowedgeable in the local storage and local perils.
Lenders can be assured they will have the coverage appropriate for their constantly changing fleets, the best service and the best pricing.