Question
I am considering renting a truck and trailer on a weekly basis as my sole piece of equipment. This would give me the ability to meet a lucrative short term contract where I would otherwise not be able to. What if any Insurance is required to haul commercial freightunder these circumstances?
Answer
I'm sure Connie will correct me if I am wrong, but you need the same insurance as if you own the thing. I rented a truck for a week and just called my insurance agent, gave them the VIN # and was set to run. The truck I rented was worth less than my own, so I didn't have to change the declared amount. (amount of coverage)
Truck safe.
Windshields are expensive, please leave me plenty of room when passing. Wait for the lights, I'll give 'em when it's safe to come back over. I like all dogs I meet, and some people too!!
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Guardrail from viewing earlier posts I can see you know your stuff but a confirmation would be cool. Any comment connie
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J.D.,
Guardrail is correct. Renting or leasing equipment for your exclusive use is treated the same way as if you owned it. Insurance should reflect the rental company as an Additional Insured Lessor and be sure to get the value from them as to the amount of coverage. Liability and Cargo are not affected by value of the equipment, but they too should be made aware of the rental vehicle.
For all who have not quite figured it out, Guardrail is in secret training for his next career...selling truck insurance!
Mike, I'm going to be on vacation from May 23 til May 30. Any chance I can get you to cover for me in the office?
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Is it going to cost the same as in "normal"? circumstances i.e.: owned eqipment. How do Insurance companys feel about rentals if theres no other eqipment on the policy? Where should I look? I'm right at 2 yrs with a few points on my record.
Answer
When you rent a vehicle you sign a contract making you responsible for that equipment. When you purchase a vehicle, you're responsible.
Any vehicle in your care, custody and control will be viewed as "yours".
But, you say you're "right at 2 years with a few points on your record", just what does that mean?
Do you have 24 months of experience? Not 20 1/2, I mean 24 months.
And a few points? What are we talking about, speeding?
Your experience and driving record will have a huge impact on premium. There's no getting around it. Two minor speeding tickets on the driving record of a 20 year veteran driver cost him $1100 for one year. And that was just the surcharge for one ticket.
Depending on your MVR and experience, perhaps you should see if you can get insurance before you get a vehicle.
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Can I get insurance? I've got two at faults and two tickets. one ticket is for one of the accidents and one is for failure to obey something or other(some of these may have cleared my record by now, if not they will soon). Marginal at best.
Who would you reccomend?
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J.D.
I will be glad to answer your question, but would feel more comfortable doing so over the phone. I think the things we need to touch on are confidential and better for you to be handled privately. Feel free to call me at 800-933-7911?
Connie
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Sorry Connie, my one job is too much for me. The only reason I do it is to support all my bad habits. If it wasn't for them I could quit and live off the land.
Truck safe.
Windshields are expensive, please leave me plenty of room when passing. Wait for the lights, I'll give 'em when it's safe to come back over. I like all dogs I meet, and some people too!!
Answer
This is not a job....this is an ADVENTURE!
Answer
Originally posted by Connie the Insurance Lady:
This is not a job....this is an ADVENTURE!
I think you're confused... are you sure you're not in the Navy?
Truck safe.
Windshields are expensive, please leave me plenty of room when passing. Wait for the lights, I'll give 'em when it's safe to come back over. I like all dogs I meet, and some people too!!