Contingent Auto Lease
Vehicle Protection in Third-Party Liability Claims
In the complex world of commercial auto insurance is this specialized coverage for leasing operations. Our program is designed to cover a multitude of potential exposures on a contingency, excess, physical damage and interim basis for a minimum 12-month term.
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The program offers secondary insurance that typically protects the lessors—the owner of the vehicles. Our extensive experience in a broad range of auto exposures combined with our proactive claims management partners have a demonstrated track record of success. It is a combination of this service driven approach to leasing operations that has led to an average annual retention rate of over 90%.
Who We Cover
• Independent leasing companies
• Automobile manufacturers
• Local dealerships
• Financial institutions
Program Details
• Underwritten with top A.M. Best “A” rated carriers
• All claims handled in-house
• Minimum 12-month term
• New ventures considered
Lessors Contingent Liability
• Bodily Injury $100,000 per person, $300,000 per occurrence
• Property Damage $50,000 per occurrence ($100/$300/$50)
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Lessors Only Excess Liability
• The difference to $1,000,000 CSL (or higher) per occurrence
• Minimum required underlying coverage is $100,000 per person, $300,000 per occurrence, Bodily Injury; and $50,000 per occurrence, Property Damage
Lessors Contingent Physical Damage
• Comprehensive $1,000 deductible / Collision $1,000 deductible with a maximum limit of $50,000 per vehicle
Interim Car Coverage
• Bodily Injury $100,000 per person, $300,000 per occurrence
• Property Damage $50,000 per occurrence ($100/300/50) to include $1,000 deductible Comprehensive and Collision coverages
• Maximum Physical Damage limit of $50,000 per vehicle
• If purchased, the excess policy will provide excess liability over the Interim Liability at no additional charge
Available to retail agents in all states except LA and NY at this time.
Need a Quote?
As a GMI Appointed Agency / Agent, you can submit your quote requests online. Send us a completed application and we'll get you a quote. It's that easy!
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To become an Appointed Agency / Agent, please fill out and return our agreement, and provide your agency’s insurance license(s), E&O and W-9 along with your quote submission.
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Required forms and information:
• GMI Contingent Auto Lease Application
• Copy of current lease agreement
• Loss runs for the past five (5) years preferred, will accept three (3) years
Program Contact
Mark Trudel
President
For a complete contact information, click here.