Does my car insurance cover rental cars?
If you already have car insurance for a personal vehicle, the liability will extend to any vehicle that you rent as long as it is a car or truck under 10,000 lbs. If you carry Comprehensive and Collision coverage on your policy, your personal coverage limits will also apply. If you only carry liability coverage on your current policy, you will need to purchase the physical damage insurance offered through the rental car location. If you are traveling abroad or renting any type of a commercial vehicle you will probably need to get rental insurance. You will want to confirm with your agent prior to rental to determine your coverage limits. Please note that loss of use and diminished value would typically not be covered with your policy. If you rent the vehicle using a major credit card, you will want to check with your card company to see if they would cover these charges.
If I am using my vehicle for rideshare services does my policy cover this?
Rideshare insurance covers you if you are driving for Uber or Lyft on top of the coverage provided by the company. This coverage MUST be added by endorsement to cover usage of your personal auto when the driver is signed into a ridesharing app, but before coverage starts by your Uber or Lyft insurance. It still might not cover you 100%, so please contact your agent to confirm the exact amount and timing of coverage. This also includes usage of your personal vehicle for such services as Uber Eats and Door Dash.
If I let someone borrow my vehicle, are they covered?
Insurance follows the vehicle, and yes, your policy would cover a friend, neighbor, or associate that borrows your vehicle on a temporary basis. If that person ends up using your vehicle on a regular basis (weekly or more than a few times per year), that person should then be added as a driver on your policy. An example of this would be an elderly client who has his son drive his vehicle to doctor appointments and errands a few times a week. The son should be listed as a driver on his policy at that time as it happens regularly and frequently.
Is it necessary to have an Umbrella policy, and what is an Umbrella policy?
Umbrella insurance is not required by law but is most often purchased by people who have higher assets to protect, or people whose public career or lifestyle make them more likely to be involved in a lawsuit should some form of negligence occur. Umbrella policies add anywhere from an additional $1 million up to $5 million in personal liability coverage. They go over, or are in addition to your current home, auto, boat, recreational vehicle, or dwelling fire policies’ liability limits.
Cyber Insurance helps to cover damage that is done by either malware or hackers when a data breach occurs. On a personal insurance policy, it can help to cover fees resulting from having to investigate and rebuild your credit. On a business insurance policy, it covers the liability from having your customers’ personal information stolen while engaging in business practices.
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