|* If you feel the agency you hire should be bonded, make sure you are issued a certificate of bonding.
** If the collateral you wish to have repossessed has any significant value, make sure you verify that their on-hook coverage exceeds the value of your collateral.
*** If you expect to hire the repossession agency to store your collateral, verify that their garage liability coverage is high enough.
**** If there is a possibility that the collateral contains personal effects that may need to be insured in case of claims of theft or loss, verify that their policy has coverage for personal property storage.
***** If you are concerned that you could be held responsible for any injury that should occur to the recovery agent while repossessing your collateral, verify that they have workman's compensation coverage, or the very least consider getting a waiver signed.
****** Many Lenders require coverage of ' 1 Million Dollars per Occurrence ' There is an insurance carrier that provides wrongful repossession insurance that has an aggregate of 1 million dollars on wrongful repo and auto liability with per person limits of $250K. BE AWARE OF THE LIMITS PROVIDED!