Can I rent other vehicle and still be covered near my livery insurance?
I own a small livery company and own two vehicles. I now want to rent vehicle from personal owners and rental places but am not sure what I should do for insurance. Basically, my plan is to have people near vans and cars drive their own vehicles around and pick people up for money. These relations won't have their own livery insurance but my insurance includes, i believe it's called "for hire," which say I can rent out other vehicles and have liability coverage. My compassion is that I can hire these people and rent their vans. If they get into an happenstance I am not covered for the damage of the vehicles but am for the liability if anyone get injured. From an insurance perspective does it sound like I'm doing things correctly and officially? Any other problems you see or suggestions?
"> OK, you need to be SURE you've got "hired auto" coverage, and you really want to verify if it's liability, or physical damage. It's EXTREMELY UNUSUAL to have a commercial livery policy, a public vehicle policy, that includes hired and/or nonowned auto liability coverage.
It's RATED on a "cost of hire" basis. BE SURE you know what the rate is, because it WILL be audited at the end of the year, and you might be shocked at the actual rate.
Keep surrounded by mind, just because your INSURANCE is carrying over onto a rented car, that does NOT stingy the rental car is legal doing a tour as a public vehicle - it STILL needs the city license and tags for public vehicle.
If you DO have "hired auto liability", it only covers when YOU OR YOUR EMPLOYEE is driving the vehicle. If you are hiring the sports car and the driver, or hiring the employee to use their vehicle, it is NOT covered.
Hired auto liability, is for SHORT TERM VEHICLE HIRES - where you hire a vehicle, next to a rental contract, for less than 30 days.
It really sounds to me like you're trying to subcontract this out. I don't reckon it's going to work - I would be shocked, actually, if the commercial policy you have, is rate for public vehicles, AND has hired auto liability on it. Either it's not rate for public vehicles, or it doesn't have hired auto.
But YOUR EMPLOYEE will hold to drive, if your hired auto liabiltiy is to count. That means, you have to buy them workers comp coverage.
And again, you've get that little issue of having to get livery tag for the car - which you won't be able to do, in need having a taxi/limo policy specifically naming that vehicle.
Don't believe me? Talk to your agent. Your policy isn't set up right. I haven't seen it, but I'd be feeling like to put money on it. Source(s): agent, 21+ years
Related Questions:
"> OK, you need to be SURE you've got "hired auto" coverage, and you really want to verify if it's liability, or physical damage. It's EXTREMELY UNUSUAL to have a commercial livery policy, a public vehicle policy, that includes hired and/or nonowned auto liability coverage.
It's RATED on a "cost of hire" basis. BE SURE you know what the rate is, because it WILL be audited at the end of the year, and you might be shocked at the actual rate.
Keep surrounded by mind, just because your INSURANCE is carrying over onto a rented car, that does NOT stingy the rental car is legal doing a tour as a public vehicle - it STILL needs the city license and tags for public vehicle.
If you DO have "hired auto liability", it only covers when YOU OR YOUR EMPLOYEE is driving the vehicle. If you are hiring the sports car and the driver, or hiring the employee to use their vehicle, it is NOT covered.
Hired auto liability, is for SHORT TERM VEHICLE HIRES - where you hire a vehicle, next to a rental contract, for less than 30 days.
It really sounds to me like you're trying to subcontract this out. I don't reckon it's going to work - I would be shocked, actually, if the commercial policy you have, is rate for public vehicles, AND has hired auto liability on it. Either it's not rate for public vehicles, or it doesn't have hired auto.
But YOUR EMPLOYEE will hold to drive, if your hired auto liabiltiy is to count. That means, you have to buy them workers comp coverage.
And again, you've get that little issue of having to get livery tag for the car - which you won't be able to do, in need having a taxi/limo policy specifically naming that vehicle.
Don't believe me? Talk to your agent. Your policy isn't set up right. I haven't seen it, but I'd be feeling like to put money on it. Source(s): agent, 21+ years
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