Ancillary Products, LLC. P: 785.452.5506
Ancillary Products, LLC. has relationships with many of the top rated insurance providers within the industry. We are able to customize programs to fit the needs of any lender, while delivering hassle free coverage for your customer/members and maximum profitability for your financial institution.
If we do not currently have a product or service that fits your needs, please contact us and we will work together to come up with a solution.
FINANCIAL INSTITUTION
AUTO EXTENDED WARRANTY
The longer you drive and the more miles you put on a vehicle after the manufacturer's warranty has expired, the more likely it is that you will need repairs. Provide your customers peace of mind by protecting their automobile and wallet with a
Vehicle Service Contract.
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Benefits of Coverage:
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Immediate Coverage
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30 Day free look
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Roadside
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Included in the loan or outside the loan
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Open enrollment
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Stated component to Factory type coverage​
POWER SPORT EXTENDED WARRANTY
Complete line of coverage designed to keep your power sports vehicle on the road. Protection for major mechanical expenses with No Deductible on covered parts and labor. All plans include Roadside Assistance.
Benefits:
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Towing
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Flat Tire assistance
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Fuel Delivery
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Rental Car Allowance
GUARANTEED ASSET PROTECTION (GAP)
GAP protection has become an important product for lenders today. With consumers borrowing more than ever before, and for longer terms, GAP protection takes the sting out of a big loss for both the customer and lender.
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Ancillary Products, LLC. represents several top tier Gap Insurance Administrators.
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Terms up to 84 months
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150% Loan to Value
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Coverage for Vehicles with up to $100,000 MSRP
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Commercial Use Coverage
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Insurance Deductible Reimbursement up to $1000
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Private Label options
AUTOMOBILE LOAN PROTECTION
Automobile Loan Protection enhances auto lending by:
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Improves loan yield and finance income by growing C, D, & E tier lending
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Protects loan portfolio at minimal cost
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Reduces losses on repossessed vehilces
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Easy application/ lender makes all loan decisions
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Available on new/used vehicles $1,000-$80,000
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Loan terms 1-8 years
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Lender's Option Corporation​
SUPER NON-LEASE
Prices on new vehicles continue to increase, forcing buyers to make higher monthly payments, delay vehicle purchases, or acquire used vehicles. As a result, leases and balloon loans offering low monthly payments and short term financing attract many new car buyers. Lenders can satisfy buyers' preference for low monthly payments and short term financing with Super Non-Lease, an innovative balloon loan program that provides superior benefits for both lenders and borrowers.
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Lender Benefits:
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Low monthly payments to increase auto lending
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Vehicle Titled in Member’s Name
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30% to 40% more finance income compared to a conventional loan
Borrower Benefits:
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Low monthly payments and shorter loan terms
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No upfront costs
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Generous mileage allowance
Options at loan termination:
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Sell or trade in the vehicle
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Refinance the remaining balance
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Turn-in vehicle to lender for purchase by administrator
BLANKET LENDERS SINGLE INTEREST
Broad coverage of loan collateral loss for the entire consumer loan portfolio with no need to track insurance.Verify coverage, and from that point on, insurance tracking ceases. Rates are extremely competitive, includes Assumption of Coverage.
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Coverage:
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Uninsured Physical Damage
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Skip and Confiscation
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Instrument Non-Filing
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Repossessed Property Coverage
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Eligible Collateral: All types of “consumer” or “rolling stock” loans such as auto, recreational vehicles, watercraft, etc….
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Limit of Loss: $50,000 - $75,000
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Deductible: deductible options available
COMMERCIAL LENDERS SINGLE INTEREST
Protects the Financial Institution from uninsured loss to commercial loan collateral of various types. Just like the Blanket Auto LSI program, the bank or credit union will verify insurance at closing and from that point on tracking ceases.
Coverage:
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Uninsured Physical Damage
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Skip and Confiscation
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Instrument Non-Filing
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Repossessed Property Coverage
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Eligible Collateral:
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All Kinds of Commercial Vehicles, Machinery and Equipment.
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Inventory (No art, livestock, etc.)
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Limit of Loss: $250,000 (increased limits offered in $250K increments, to $1M)
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Deductible: $2,500 per claim (higher deductibles available)
BLANKET MORTGAGE HAZARD INSURANCE
Coverage of the entire mortgage loan portfolio against uninsured physical damage without the aggravation and expense of tracking property insurance.
Features:
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Provides lender with uninsured property coverage on the entire portfolio
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Covers residential, commercial and mobile home loans
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Provides all-risk residential and commercial property coverage
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Covers second mortgages and equity loans
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Option to cover Real Estate Owned (REO) portfolios
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Benefits:
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Eliminates need for insurance follow-up after loan closing
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Eliminates need to track and report individual properties for coverage
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Covers uninsured physical damage without default or foreclosure
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Pays claims at replacement cost versus ACV if lender opts to repair property
LENDER-PLACED MORTGAGE HAZARD AND FLOOD INSURANCE
The lender goes to website and can easily place coverage and to cancel coverage on uninsured mortgage properties: residential, commercial, and REO.
Features:
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Lender easily places property coverage when borrower fails to insure property
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Covers residential, commercial and mobile home loans
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Provides all-risk residential coverage
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Pays claims at replacement cost on residential; ACV settlement for commercial properties
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Covers Real Estate Owned (REO) properties
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Carries option to include liability coverage
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Allows placement of Flood coverage when required
Benefits:
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Allows lender to insure specific, individual properties only
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Easy-to-use website for fast and efficient placement/cancelation
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Premium cost charged to the borrower
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Pays claims at replacement cost on residential; and ACV settlement for commercial properties