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$11K

$68.7K

$90.5K

How much do collateral protection insurance jobs pay per year?

As of Jun 8, 2026, the average yearly pay for collateral protection insurance in the United States is $68,749.00, according to ZipRecruiter salary data. Most workers in this role earn between $55,000.00 and $78,000.00 per year, depending on experience, location, and employer.

What is the difference between Collateral Protection Insurance vs Insurance Adjuster?

AspectCollateral Protection InsuranceInsurance Adjuster
CredentialsTypically requires licensing or certification in insuranceRequires state licensing and adjuster certification
Work EnvironmentOffice, field inspections, claims processingField inspections, claims assessment, office work
Employer & IndustryInsurance companies, lenders, auto dealershipsInsurance companies, independent agencies
Search & Comparison IntentUnderstanding coverage for financed assetsEvaluating claim adjustments and settlement processes

Collateral Protection Insurance focuses on insuring financed assets like vehicles, often used by lenders. Insurance Adjusters assess claims and determine payouts. While both roles involve insurance, they serve different functions within the industry.

What is Collateral Protection Insurance (CPI)?

Collateral Protection Insurance (CPI) is a type of insurance policy that lenders purchase to protect themselves against loss or damage to property used as collateral for a loan, such as vehicles or real estate, when the borrower fails to maintain adequate insurance. If a borrower’s insurance lapses or is insufficient, the lender may buy CPI and charge the premium to the borrower. This coverage ensures the lender’s financial interest is safeguarded, but it may not provide the same coverage or benefits as standard borrower-acquired insurance.

What are some common challenges faced by professionals working in Collateral Protection Insurance (CPI) and how can they be addressed?

Professionals in Collateral Protection Insurance often encounter challenges such as managing high volumes of policy tracking, dealing with incomplete borrower information, and ensuring regulatory compliance. Overcoming these obstacles requires strong organizational skills, proficiency with specialized CPI software, and effective communication with lenders and borrowers. Staying updated on industry regulations and participating in ongoing training can also help professionals navigate these complexities and deliver excellent service.

What are the key skills and qualifications needed to thrive as a Collateral Protection Insurance Specialist, and why are they important?

To thrive as a Collateral Protection Insurance Specialist, you need a solid understanding of insurance principles, financial regulations, and risk assessment, often supported by a degree in finance, business, or a related field. Familiarity with insurance management software, loan servicing platforms, and relevant certifications such as an insurance license are typically required. Outstanding attention to detail, analytical thinking, and strong communication skills help professionals excel when analyzing policies and interacting with clients or stakeholders. These skills ensure accurate policy administration, regulatory compliance, and effective risk mitigation for lenders and their clients.
More about Collateral Protection Insurance jobs
What cities are hiring for Collateral Protection Insurance jobs? Cities with the most Collateral Protection Insurance job openings:
What states have the most Collateral Protection Insurance jobs? States with the most job openings for Collateral Protection Insurance jobs include:
What job categories do people searching Collateral Protection Insurance jobs look for? The top searched job categories for Collateral Protection Insurance jobs are:
Collateral Protection Insurance jobs near you
Infographic showing various Collateral Protection Insurance job openings in the United States as of May 2026, with employment types broken down into 16% As Needed, 20% Full Time, 56% Part Time, 1% Contract, 6% Nights, and 1% Summer. Highlights an 96% Physical, 1% Hybrid, and 3% Remote job distribution, with an average salary of $68,749 per year, or $33.1 per hour.
Collateral Protection Specialist I

Collateral Protection Specialist I

b1BANK

Lake Charles, LA

Other

Posted 2 days ago

Job description

Collateral Protection Specialist I

The Collateral Protection Specialist I is responsible for protection of the bank's collateral and perform monitoring of insurance tracking (hazard, wind, hail, flood, vehicle, etc.), escrow tracking and payments, property tax tracking and payments. Additionally, the Collateral Protection Specialist I will serve as a liaison between the bank, insurance companies, and third-party tracking vendors (i.e., insurance and property taxes).

Specific Job Functions

  • Review loan documents for new, increased, renewed, and extended loan requests for compliance with flood insurance regulation and procedural requirements.
  • Review and analyze real estate appraisals to perform flood insurance requirements in accordance with flood insurance regulations and procedural requirements.
  • Monitor and process incoming insurance documents received by the bank.
  • Transmit insurance documents via secure file transfer to the bank's insurance tracking vendor.
  • Communicate with insurance companies to verify continuation of insurance coverage.
  • Work with banking center staff to resolve insurance tracking issues.
  • Work with banking center staff to resolve non-coverage or deficient coverage issues.
  • Review insurance tracking reports provided by the bank's insurance tracking vendor.
  • Produce payment change notification letters when forced placed insurance policies are issued.
  • Processing payment of force placed premiums.
  • Processing refund of force placed premiums.
  • Communicate with insurance companies for the collection premium notices for loans in which insurance is paid via escrow.
  • Process insurance & property tax payments on loans with escrow.
  • Communicate with tax assessors for the collection of property tax notices for loans in which property taxes are paid via escrow.
  • Communicate with tax assessors for research and payment verification information.
  • Monitor unpaid property tax report provided by the bank's property tax tracking vendor.

Minimum Job Requirements

  • High School diploma or equivalent is required.
  • Associates Degree in business, finance, or risk management & insurance is preferred.
  • 0-2 years of property insurance experience is required.
  • Must demonstrate good understanding of loan application policies and procedures, as well as documentation required by federal and state regulations.
  • Must demonstrate good understanding of insurance documents (i.e., policies, applications, etc.).
  • Must demonstrate strong oral and written communication skills to effectively communicate with co-workers and clients.
  • Must be organized, attentive to detail, and self-disciplined to work independently.
  • Proficient in computer skills and Microsoft Suite.
  • Maintain a professional demeanor and dependable work ethic.

Equal Opportunity Employer/Veterans/Disabled

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