R.V.I. America Insurance Company, Delaware: Overview, Contacts, Services, Coverage, Claims

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R.V.I. America Insurance Company is a subsidiary of R.V.I. Guaranty Co., Ltd., a Bermuda-based company that specializes in residual value insurance.

An image illustration of R.V.I. America Insurance Company
R.V.I. America Insurance Company was founded in 1989 as a Delaware corporation.

Residual value insurance is a type of insurance that protects the owner or lessee of an asset from the risk of depreciation or obsolescence.

In this blog post, we will review the company’s history, products, services, financial details, coverage, and claims process.

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R.V.I. America Insurance Company Overview

R.V.I. America Insurance Company was founded in 1989 as a Delaware corporation.

It is licensed to write residual value insurance in all 50 states and the District of Columbia.

The company is headquartered in Stamford, Connecticut, and has offices in London, Paris, Tokyo, and Shanghai.

The company is part of the R.V.I. Group, which also includes R.V.I. Guaranty Co., Ltd., R.V.I. National Insurance Company, R.V.I. Reinsurance Ltd., and R.V.I. Services LLC. The R.V.I. Group is affiliated with Group1001, a holding company that owns several insurance and financial services companies.

The company has a leading market share position in the residual value insurance sector, with over $2 billion of insured exposure as of December 31, 2022.

The company has a strong reputation for its expertise, innovation, and customer service in the industry.

R.V.I. America Insurance Company Contacts

The following table summarizes some basic information about the company:

Phone Number (203) 975-2100
Address 177 Broad Street Stamford, CT 06901
Customer Service Contact info@rvigroup.com
Policy Details Varies by product and customer
Email Address info@rvigroup.com
Fax Number (203) 975-2110
Operating Hours Monday-Friday, 9:00 AM – 5:00 PM (Eastern Time)

R.V.I. America Insurance Company Services & Products

The company offers residual value insurance for various types of assets, such as:

  • Commercial aircraft
  • Passenger vehicles
  • Commercial real estate
  • Equipment leasing
  • Renewable energy

The company’s products are designed to meet the specific needs of different customers, such as:

  • Asset owners or lessees who want to protect their investment or lease payments from depreciation or obsolescence
  • Asset financiers or lessors who want to enhance their credit quality or liquidity by transferring residual value risk to the insurer
  • Asset manufacturers or distributors who want to stimulate sales or leasing by offering residual value guarantees or buyback options to their customers

The company also offers special packages or bundled services for some products, such as:

R.V.I provides international coverage for some products, such as:

The company also offers temporary or short-term policies for some products, such as:

  • Equipment Leasing Residual Value Insurance (ELRVI), which covers equipment leased for periods ranging from six months to five years
  • Renewable Energy Residual Value Insurance (RERVI), which covers renewable energy projects for periods ranging from one year to 20 years

R.V.I. America Insurance Company Finances

The company’s premium costs vary by product and customer, depending on factors such as:

  • The type and value of the asset
  • The term and frequency of the policy
  • The expected residual value of the asset at the end of the policy
  • The historical and projected depreciation or obsolescence trends of the asset
  • The credit rating and financial strength of the customer

The company offers flexible payment options for its customers, such as:

  • Monthly, quarterly, semi-annual, or annual payments
  • Upfront, deferred, or installment payments
  • Fixed, variable, or indexed payments

The company has a high claim payout ratio, which reflects its commitment to honoring its obligations to its customers.

The company’s claim payout ratio was 99.8% in 2022, which means that it paid out 99.8% of the claims that it received.

R.V.I. America Insurance Company Coverage Details

The company’s policy exclusions vary by product and customer, depending on factors such as:

  • The type and condition of the asset
  • The use and maintenance of the asset
  • The legal and regulatory environment of the asset
  • The contractual and operational agreements of the customer

Some examples of policy exclusions are:

  • Loss or damage caused by war, terrorism, nuclear radiation, or natural disasters
  • Loss or damage caused by fraud, negligence, or willful misconduct of the customer or a third party
  • Loss or damage caused by normal wear and tear, deterioration, or depreciation of the asset
  • Loss or damage caused by modifications, alterations, or enhancements of the asset without the insurer’s consent
  • Loss or damage caused by failure to comply with the manufacturer’s specifications, recommendations, or warranties

The company’s coverage limits vary by product and customer, depending on factors such as:

  • The type and value of the asset
  • The term and frequency of the policy
  • The expected residual value of the asset at the end of the policy
  • The historical and projected depreciation or obsolescence trends of the asset
  • The credit rating and financial strength of the customer

Some examples of coverage limits are:

FAQs

What is residual value insurance?

Residual value insurance is a type of insurance that protects the owner or lessee of an asset from the risk of a decline in its market value at the end of a lease or ownership period. It covers the difference between the actual residual value and the predetermined residual value of the asset.

What are the benefits of residual value insurance?

Residual value insurance can provide several benefits, such as:

  • Enhancing the attractiveness and affordability of leasing or financing options for customers.
  • Reducing the exposure and volatility of residual value risk for asset owners, lessors, or lenders.
  • Increasing the liquidity and flexibility of asset portfolios.
  • Supporting the development and innovation of new markets and products.

What types of assets are covered by R.V.I. America Insurance Company Delaware?

R.V.I. America Insurance Company Delaware offers residual value insurance for a wide range of assets, such as:

  • Passenger vehicles, including cars, trucks, SUVs, and vans.
  • Commercial vehicles, including buses, trucks, trailers, and equipment.
  • Aircraft, including commercial jets, regional jets, turboprops, and helicopters.
  • Railcars, including freight cars, tank cars, and locomotives.
  • Real estate, including office buildings, retail centers, industrial properties, and hotels.

How can I get a quote from R.V.I. America Insurance Company Delaware?

You can get a quote from R.V.I. America Insurance Company Delaware by contacting them through their phone number, email address, or online form. You will need to provide some basic information about your asset, such as:

  • Type and model of the asset.
  • Location and market of the asset.
  • Lease or ownership term and structure.
  • Estimated residual value and depreciation rate.
Claims

How can I file a claim with R.V.I. America Insurance Company Delaware?

You can file a claim with R.V.I. America Insurance Company Delaware by following these steps:

  • Notify them of your intention to file a claim within 30 days of the end of the lease or ownership period.
  • Submit the required documents for your claim, such as:
    • A copy of the lease or purchase agreement.
    • A copy of the insurance policy and certificate.
    • A proof of payment of the premium.
    • A proof of disposal or sale of the asset.
    • An appraisal report or market survey of the asset’s residual value.
  • Wait for their claim approval process, which usually takes about 60 days.

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