American Lease Insurance Agency Corporation (ALI) provides a program of Collateral Protection Insurance (CPI) to companies that finance or lease commercial vehicles, which includes tracking evidence of other insurance to verify that the finance or leasing company's assets are insured throughout the term of each agreement.
If you are providing insurance on a commercial vehicle financed or leased by a company we service, you will be asked by your insured customer to verify coverage. To streamline the process, you may email us or fax evidence of sufficient coverage to us at 888-228-8430. Here's what evidence of coverage should show:
Physical damage and theft coverage are required by the finance agreement or lease. You will need to provide the carrier name, policy number, and evidence that the finance or leasing company has been named as a "Loss Payee" under a "Lender's Loss Payable" endorsement to the underlying policy covering the vehicle.
If the agreement is a lease, liability insurance is required on the vehicle as well. You will need to provide us the carrier name, policy number, and liability limits on the policy. We will also need to know that the leasing company has been endorsed onto the policy as an "Additional Insured-Lessor of Commercial Vehicle."
Please be sure to include the lease or contract number on all documentation. This will ensure that your submission is applied to the correct lease or contract.
If you are providing insurance documentation by mail, correspondence should be addressed to the finance or leasing company, and mailed to the following address. Please do not submit duplicate documentation.
Finance or Leasing Company
c/o American Lease Insurance
654 Amherst Road
Sunderland, MA 01375
We appreciate your assistance. If you have questions, please contact us.