INSTALLMENT SALES COVERAGE is designed for those who sell merchandise to a purchaser on an installment sales plan or who offer merchandise for trial periods. The form insures all covered property sold by the insured on an installment sales plan or out on a trial period but only if their accounting records show their variable financial interest in the property. The policy covers all such transactions as of its inception date, whether the transactions are already in force or new, and coverage continues until the final payment on the merchandise is made or the policy expires. Coverage protects only the financial interest of the insured seller of the merchandise.
(Use ACORD Form #152)
Related PF&M Articles:
AAIS Installment Sales Coverage Analysis
ISO Installment Sales and Leased Property Coverage Form Analysis