what is single interest insurance coverage
What Is Single Interest Insurance? Single interest insurance, or vendor single insurance, refers to a type of policy that protects the property a vendor or lessor sells or leases to a customer on installment, according to AllBusiness.com. With single interest insurance, the insurance carrier pays the vendor in case of loss. The vendor can pass the cost of the insurance policy on to the customer in most states. Payment default by customers represents a major concern.