Sentences with phrase «policy on a leased vehicle»

Additional insured is often appropriate for commercial policies, and even appropriate for a personal auto policy on a leased vehicle.

Not exact matches

The vehicles covered by a business auto insurance policy are ones that are owned, hired, leased or borrowed by a business and designed to be driven on public roads.

If you do not obtain a non-owners policy, the North Carolina Department of Motor Vehicles will place a restriction on your license that allows you to only drive fleet vehicles, which are automobiles that are owned or leased by a business or government agency.

While your minimum coverage required by your state may be $ 25,000 for injury to others and $ 10,000 for damage to other vehicles or property, leasing companies typically require more — often $ 100,000 for bodily injury and $ 50,000 for property damage, on a policy with low deductibles.

Reps can also advise drivers on how to manage a household budget with a group policy for family members or for covering multiple bought or leased vehicles.

The company leasing the vehicle still owns it, and is listed on the insurance policy as an insured party.

The leasing company retains ownership of the vehicle and must be shown on your insurance policy as an insured.

If you are leasing or financing a vehicle, the lending company may require that you have both comprehensive insurance and collision insurance on your auto insurance policy.

Remember, if you are leasing or financing a vehicle, the lending or leasing company may require that you have both comprehensive insurance and collision insurance on your car insurance policy.

NOTE: Most states require you purchase collision and comprehensive policies if you lease your vehicle or don't yet own it outright (i.e., you are still making payments on it).

For drivers who finance or lease their car, these are mandatory as long as the policy holder still owes money on the vehicle.