Contingent and Excess Liability Insurance

Purpose: To protect Lessor or its finance source as the owner of the vehicle in the event that they are named defendant resulting from the lessee’s involvement in an accident. The liability may be due to either the lessee failing to maintain his own insurance (Contingent) or for suits greater then the 100/300/50 the excess.

Excess Liability protects the lessor from the loss above the primary liability policy to $1 million or more.

• Pricing: Annual Policy will run $4,500 (minimum premium pricing) As the portfolio grows the premium will increase.
• Firm quote will follow separate Document