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Hello:
The car that I own is on its last legs. It has a full insurance
policy (collision, comprehensive, etc).
I need a reliable, presentable car for the next 3 months
for business reasons. Monthly rental rates are affordable
for me, except - the extra insurance cost is outrageous
for collision and damage. An extra $600 per month.!
If I keep my old junker, with its policy in force, will all
of its coverage extend to the rental car for 3 months ?
In the alternative, the rental agency said they can do a
short term legal lease, which also would allow me to get
a policy through my insurance company on this lease -
is this legal ?
Thanks
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Keep your own insurance if it covers rental vehicles. It'll most likely be much
cheaper.
"If life were like a box of chocolates, everyone would be black and expire in 2
years."
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Hello:
The car that I own is on its last legs. It has a full insurance
policy (collision, comprehensive, etc).
I need a reliable, presentable car for the next 3 months
for business reasons. Monthly rental rates are affordable
for me, except - the extra insurance cost is outrageous
for collision and damage. An extra $600 per month.!
If I keep my old junker, with its policy in force, will all
of its coverage extend to the rental car for 3 months ?
In the alternative, the rental agency said they can do a
short term legal lease, which also would allow me to get
a policy through my insurance company on this lease -
is this legal ?
Thanks
Stupid question . . . considering it's going to cost somewhere between $1800
and $3600 (maybe more) to rent a car for three months . . . wouldn't it be
smarter to apply that money toward the purchase of a new car? There are
zero down loan programs for new cars. Most manufacturers offer financing
options also for new cars with very little down. Renting for three months
makes almost no sense whatsoever, financially speaking. Your monthly
payment on a new car will be no more than 30% of the price to RENT a car for
a month. Even if your car insurance goes up, you'll still save 60% or so
just by purchasing a new car now, rather than renting. -Dave
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Call your insurance agent and ask.
On Sun, 18 Jan 2004 18:32:23 -0500, "Lance Mannion"
<lancemannion@nospam.net> wrote:
Hello:
The car that I own is on its last legs. It has a full insurance
policy (collision, comprehensive, etc).
I need a reliable, presentable car for the next 3 months
for business reasons. Monthly rental rates are affordable
for me, except - the extra insurance cost is outrageous
for collision and damage. An extra $600 per month.!
If I keep my old junker, with its policy in force, will all
of its coverage extend to the rental car for 3 months ?
In the alternative, the rental agency said they can do a
short term legal lease, which also would allow me to get
a policy through my insurance company on this lease -
is this legal ?
Thanks
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It seems "Lance Mannion" wrote in misc.consumers in article
<pOSdnR1y29lCipbdRVn-ig@comcast.com>:
If I keep my old junker, with its policy in force, will all
of its coverage extend to the rental car for 3 months ?
We can't answer that, because the answer depends on your policy.
Your insurance agent can, and that's who you should ask.
It's a near certainty that you will get a better rate with your
present company than you would from the rental company.
(followups set to misc.consumers)
--
Stan Brown, Oak Road Systems, Cortland County, New York, USA
http://OakRoadSystems.com/
"For many Americans the danger of tyranny lies not in government but
in employers or insurance companies or HMOs, from which we need
government to protect us. To say that any worker is free to escape
an oppressive employer by getting another job is about as realistic
as to say that any citizen is free to escape an oppressive govern-
ment by emigrating." -- Steven Weinberg, in /Facing Up/ (2001)
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Stupid question . . . considering it's going to cost somewhere between
$1800
and $3600 (maybe more) to rent a car for three months . . . wouldn't it be
smarter to apply that money toward the purchase of a new car? There are
zero down loan programs for new cars. Most manufacturers offer financing
options also for new cars with very little down. Renting for three months
makes almost no sense whatsoever, financially speaking. Your monthly
payment on a new car will be no more than 30% of the price to RENT a car
for
a month. Even if your car insurance goes up, you'll still save 60% or so
just by purchasing a new car now, rather than renting. -Dave
Your approach is the more costly - I can get a 3 month car rental for $1400.
And I only need it for 3 months. The sales tax alone on a buy almost matches
that.
Bad advice.
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Call your insurance agent and ask.
They don't give good advice. On several occasions in the past, I have gotten
contradictory advice from different employees of the agency. I do not trust
them.
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Keep your own insurance if it covers rental vehicles. It'll most likely be
much
cheaper.
It's cheaper, but something just doesn't smell right if I have a 3 month car
rental
and expect my policy to cover it.
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Lance Mannion wrote:
$1800
for
Your approach is the more costly - I can get a 3 month car rental for $1400.
You can buy a junker for under $1000, and it will last you 3 months.
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Your approach is the more costly - I can get a 3 month car rental for
$1400.
You can buy a junker for under $1000, and it will last you 3 months.
Nope. I need a reliable, presentable car for the next 3 months
for business reasons.
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"Lance Mannion" <lancemannion@nospam.net> wrote:
If I keep my old junker, with its policy in force, will all
of its coverage extend to the rental car for 3 months ?
You need to read your policy very carefully. I suspect that it covers incidental
use of other vehicles, including rentals. If you were driving it continuously
for 3 months, I suspect your policy would not cover anything.
In the alternative, the rental agency said they can do a
short term legal lease, which also would allow me to get
a policy through my insurance company on this lease -
is this legal ?
Again, call your insurance company. There's only a few that raise rates for
asking questions over the phone. (You might think that's a joke.)
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"Clark W. Griswold, Jr." <73115 dot 1041 at compuserve dot com> wrote
You need to read your policy very carefully. I suspect that it covers
incidental
use of other vehicles, including rentals. If you were driving it
continuously
for 3 months, I suspect your policy would not cover anything.
Thank you! My policy appears to be silent on the issue - it says that
other cars I drive *are* covered, but mentions nothing about time.
I am going to get something in writing from the underwriting dept, if
they do that sort of thing.
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It's cheaper, but something just doesn't smell right if I have a 3 month car
rental
and expect my policy to cover it.
Don't you have a credit card that provides free rental insurance? All of my
Platinum cards provide it.
"If life were like a box of chocolates, everyone would be black and expire in 2
years."
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Don't you have a credit card that provides free rental insurance? All of
my
Platinum cards provide it.
Too many limitations - I read the policy on one of those and I can't
remember exactly what, but it seemed like there were too many
loopholes.....
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On Sun, 18 Jan 2004 18:32:23 -0500, "Lance Mannion"
<lancemannion@nospam.net> wrote:
Hello:
The car that I own is on its last legs. It has a full insurance
policy (collision, comprehensive, etc).
I need a reliable, presentable car for the next 3 months
for business reasons. Monthly rental rates are affordable
for me, except - the extra insurance cost is outrageous
for collision and damage. An extra $600 per month.!
If I keep my old junker, with its policy in force, will all
of its coverage extend to the rental car for 3 months ?
In the alternative, the rental agency said they can do a
short term legal lease, which also would allow me to get
a policy through my insurance company on this lease -
is this legal ?
Your best bet is probably to buy a decent used car and then sell it
again in three months. If you sell it privately you shouldn't take
much of a loss.
--
Brandon Sommerville
remove ".gov" to e-mail
Definition of "Lottery":
Millions of stupid people contributing
to make one stupid person look smart.
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"Lance Mannion" <lancemannion@nospam.net> wrote:
Hello:
The car that I own is on its last legs. It has a full insurance
policy (collision, comprehensive, etc).
I need a reliable, presentable car for the next 3 months
for business reasons. Monthly rental rates are affordable
for me, except - the extra insurance cost is outrageous
for collision and damage. An extra $600 per month.!
If I keep my old junker, with its policy in force, will all
of its coverage extend to the rental car for 3 months ?
In the alternative, the rental agency said they can do a
short term legal lease, which also would allow me to get
a policy through my insurance company on this lease -
is this legal ?
Only your insurance company can tell you for sure! Typically insurance
coverage fully extends to rental cars, but I've never inquired of
effects of very long-term rentals.
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"Lance Mannion" <lancemannion@nospam.net> wrote:
They don't give good advice. On several occasions in the past, I have gotten
contradictory advice from different employees of the agency. I do not trust
them.
Then why wouldn't you call the insurance company directly???????
Surely they have a customer service number!
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LM> Thank you! My policy appears to be silent on the issue - it says
LM> that other cars I drive *are* covered, but mentions nothing about
LM> time.
Then it's covered.
LM> I am going to get something in writing from the underwriting
LM> dept, if they do that sort of thing.
Most likely not. The policy is a complete legal document, any amendment or
even written interpretation would have to be approved by their lawyers, as I
imagine.
Similarly, all advises to "call your agent" or "call your insurance company"
seem to me quite naive - the agent or customer service rep in the ins.
company are not exactly the types who interpret the policy. Even if any of
them dared to do it, it would have no bearing - if ytou indeed have an
accident with your rental car and you send the claim to your ins. company
that inrused the clunker, only then the claim would be considered seriously
vs. the policy. Not when you call and ask "what if" - there are many other
variables for them to consider.
You should rely solely on the language of your existing policy, nothing else
matters.
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You should rely solely on the language of your existing policy, nothing
else
matters.
Simple, yet powerful advice - thank you. That is what I will do.
Time to put the old contract law hat on : )
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On Sun, 18 Jan 2004 19:08:49 -0500, "Lance Mannion"
<lancemannion@nospam.net> wrote:
They don't give good advice. On several occasions in the past, I have gotten
contradictory advice from different employees of the agency. I do not trust
them.
Go to another agency.
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They don't give good advice. On several occasions in the past, I have
gotten
contradictory advice from different employees of the agency. I do not
trust
them.
Go to another agency.
Over 20 years, most agencies I've ever worked with have given incorrect
advice.
They're not in the business of giving legal advice. Maybe I should keep an
insurance
lawyer on retainer : )
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In article <pOSdnR1y29lCipbdRVn-ig@comcast.com>,
"Lance Mannion" <lancemannion@nospam.net> wrote:
Hello:
The car that I own is on its last legs. It has a full insurance
policy (collision, comprehensive, etc).
I need a reliable, presentable car for the next 3 months
for business reasons. Monthly rental rates are affordable
for me, except - the extra insurance cost is outrageous
for collision and damage. An extra $600 per month.!
If I keep my old junker, with its policy in force, will all
of its coverage extend to the rental car for 3 months ?
The only way to get an accurate answer to your question is to
contact your insurance agent to ask.
In the alternative, the rental agency said they can do a
short term legal lease, which also would allow me to get
a policy through my insurance company on this lease -
is this legal ?
A third alternative is simply to rent in two week periods
and pay for the rental car each time with a credit card that
offers free rental car coverage. This will not cover you
for liability though. Double-check with your credit card
issuer to be sure the rentals will be covered.
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In article <uYadnRKkfdv3vZbd4p2dnA@comcast.com>,
"Lance Mannion" <lancemannion@nospam.net> wrote:
They don't give good advice. On several occasions in the past, I have gotten
contradictory advice from different employees of the agency. I do not trust
them.
Then find a new insurance agent or contact your auto insurance company
directly.
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In article <keGdnWvtat_ygpbdRVn-jg@comcast.com>,
"Lance Mannion" <lancemannion@nospam.net> wrote:
$1800
for
Your approach is the more costly - I can get a 3 month car rental for $1400.
And I only need it for 3 months. The sales tax alone on a buy almost matches
that.
Its bad advice only if you have no plans to buy a car after that three
month period. If you're going to buy a car anyway, it makes more sense
to apply that $1400 to a new (or slightly used) car and get a low
interest loan. Some auto makers are still offering zero interest loans,
if I am not mistaken.
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In article <uYadnRKkfdv3vZbd4p2dnA@comcast.com>,
Lance Mannion <lancemannion@nospam.net> wrote:
They don't give good advice. On several occasions in the past, I have gotten
contradictory advice from different employees of the agency. I do not trust
them.
Then
1) Read your policy. It should state your coverage. My policy, for
instance, has no time limit on rental coverage.
and/or
2) Call the insurance company itself, bypassing the agent.
In either case
3) Find a new agent. If they can't answer questions like this, they
aren't doing their job.
--
Matthew T. Russotto mrussotto@speakeasy.net
"Extremism in defense of liberty is no vice, and moderation in pursuit
of justice is no virtue." But extreme restriction of liberty in pursuit of
a modicum of security is a very expensive vice.
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In article <6c8m00tfcfgdg8d514jko192o23vg6j591@4ax.com>,
"Clark W. Griswold, Jr." <73115 dot 1041 at compuserve dot com> says:
You need to read your policy very carefully. I suspect that it covers incidental
use of other vehicles, including rentals. If you were driving it continuously
for 3 months, I suspect your policy would not cover anything.
In most states, the length of a rental contract is limited to 30 days anyway,
so he's probably not going to be renting "continuously" for 3mos (hint, hint).
-Kenny
--
Kenneth R. Crudup Sr. SW Engineer, Scott County Consulting, Los Angeles
H: 3630 S. Sepulveda Blvd. #138, L.A., CA 90034-6809 (310) 391-1898
W: 26601 Agoura Road, Calabasas, CA 91302-1959 (818) 444-3685
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Your approach is the more costly - I can get a 3 month car rental for
$1400.
Nope. I need a reliable, presentable car for the next 3 months
for business reasons.
Talk to a car dealer. You might be able to get a short term lease for a presentable used car using
the dealers insurance.
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Talk to a car dealer. You might be able to get a short term lease for a
presentable used car using
the dealers insurance.
Or, he can go to http://www.swapalease.com
and find a nice luxury car for short term.
"If life were like a box of chocolates, everyone would be black and expire in 2
years."
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He Hate Retards wrote:
Keep your own insurance if it covers rental vehicles. It'll most likely be much
cheaper.
My recollection is that MY insurance doesn't cover rentals over 30 days.
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In article <uYadnRKkfdv3vZbd4p2dnA@comcast.com>,
Lance Mannion <lancemannion@nospam.net> wrote:
They don't give good advice. On several occasions in the past, I have gotten
contradictory advice from different employees of the agency. I do not trust
them.
How about reading the written policy? The fine print will likely tell
you what is or is not covered in rented or borrowed car situations.
--
------------------------------------------------------------------------
Timothy J. Lee
Unsolicited bulk or commercial email is not welcome.
No warranty of any kind is provided with this message.
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My recollection is that MY insurance doesn't cover rentals over 30 days.
Well, since most rental places won't let you rent for longer than that anyways,
just re-rent every 30 days.
"If life were like a box of chocolates, everyone would be black and expire in 2
years."
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"Lance Mannion" <lancemannion@nospam.net> wrote in message news:<bOSdnf0FnP2auZbd4p2dnA@comcast.com>...
"Clark W. Griswold, Jr." <73115 dot 1041 at compuserve dot com> wrote
incidental
continuously
Thank you! My policy appears to be silent on the issue - it says that
other cars I drive *are* covered, but mentions nothing about time.
I am going to get something in writing from the underwriting dept, if
they do that sort of thing.
Something to make sure you clarify --- some regular auto policies
exclude rental coverage if the rental is for business use.
I have only dealt with three auto insurers for my personal coverage
needs during my "driving life". All of my policies covered rentals
for personal use and I don't recall a time limit - as long as the car
was not registered to me.
If you lease a car, it still won't be "registered" to you, but your
name will normally appear on the docs and you'll need to get
appropriate coverage.
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If you lease a car, it still won't be "registered" to you, but your
name will normally appear on the docs and you'll need to get
appropriate coverage.
Thanks.
Problem solved today. I got a "lease" through a rental agency. I will
register the car in my name, and will get insurance for about $100/mo.
It will work out perfectly. I save the huge rental agency insurance fees!
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Brandon Sommerville <grimrod@mindless.com.gov> wrote in message news:<3f8fcf7a3a8082a79ad0a91b72637b69@news.teranews.com>...
On Sun, 18 Jan 2004 18:32:23 -0500, "Lance Mannion"
<lancemannion@nospam.net> wrote:
Your best bet is probably to buy a decent used car and then sell it
again in three months. If you sell it privately you shouldn't take
much of a loss.
If he is using it for a business, there may be tax/accounting issues
that make purchasing a car (usually a capitalized expense subject to
depreciation etc) more complicated. Renting/Leasing a car makes it a
regular business expense since you are not buying the it, you're just
renting it. The car is not an asset, nor is the lease a liability on
your books. That is desirable for many businesses (though it
*may*not*be*as*true* for personal cars).
If find it interesting that most of the responses to the original post
don't deal with the question he asked. It seems he has determined
that rent/lease is the appropriate route for him and he didn't ask for
input on that part of his situation. Yet the majority of responses to
him ignore the insurance question and harp on whether he should buy or
lease.
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If find it interesting that most of the responses to the original post
don't deal with the question he asked. It seems he has determined
that rent/lease is the appropriate route for him and he didn't ask for
input on that part of his situation. Yet the majority of responses to
him ignore the insurance question and harp on whether he should buy or
lease.
Thanks Curtis. In case you're interested, here is my decision.
I will lease the car for 3 months from the rental agency. It is a real
lease,
which means I need to go down to the DMV and register it and get new
plates. Then my insurance company covers the car, at $100/month.
This car is registered in my name, not my company's.
Since I am using it mostly for business, I fill out an expense report to my
company for the % of the miles that are business related. (I use the % to
allocate the monthly costs properly for the tax man). My company
reimburses me for those costs, and gets the tax deduction.
Also, my personal auto policy has a "business rider", so that I am allowed
to use my personal car for business, and am fully covered. e.g. if I run
over
my client in their parking lot, I am covered.
I think I have all my bases covered. Do you agree ?...
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"Lance Mannion" <lancemannion@nospam.net> wrote in message news:<pOSdnR1y29lCipbdRVn-ig@comcast.com>...
Hello:
The car that I own is on its last legs. It has a full insurance
policy (collision, comprehensive, etc).
I need a reliable, presentable car for the next 3 months
for business reasons. Monthly rental rates are affordable
for me, except - the extra insurance cost is outrageous
for collision and damage. An extra $600 per month.!
If I keep my old junker, with its policy in force, will all
of its coverage extend to the rental car for 3 months ?
In the alternative, the rental agency said they can do a
short term legal lease, which also would allow me to get
a policy through my insurance company on this lease -
is this legal ?
Thanks
I've read through the entire thread and noted that you have come up
with a solution, but I wanted to address a few points that weren't
covered with the degeneration of the thread.
As far as a long term lease being covered under the 'temporary
substitute vehicle' or 'non-owned vehicle' portions of your policy,
the answer is, generally not. This is not necessarily a function of
policy language, but is in fact a function of case law in many states.
The policy definition states that a temporary substitute vehicle is a
vehicle you use while your primary vehicle is out of service due to
accident or disablement. (IE, you can't drive your car because it's
crashed or in the shop).
'Non-Owned Auto' is the clause most likely to come into play in your
current situation - and what the non-owned auto clause states is that
it covers vehicles that 'you' do not own, and which are not furnished
or available for 'your' regular use. ('Your' being defined in the
policy either as a named insured or as 'an insured', which is further
defined as a named insured, their spouse, resident relatives, and
others for whom the named insured is legally liable)
Depending on the state you're in, a 3-month rental may qualify as a
vehicle that is furnished or available for your regular use, and
therefore, the provisions restricting coverage may be triggered.
Again, it's not always about what's in your policy, sometimes it's
what's in the law surrounding the policy.
With regard to your agent - your agent has (or should have!) something
called 'Errors and Omissions' coverage. What this means is that if
you ask your agent for advice and they give you erroneous information,
they may be held legally liable for providing you with incomplete or
incorrect information. Since your agent is in the business of
providing coverage, they are held to a higher standard if they give
incorrect information. (And any time you get an opinion from your
agent, get it in writing. That'll be a nice thing to have if they
screw up.)
Not all agents are created equal. Many place a high value on
education and training. Many place a high value on hiring employees
with carrier experience, so they DO know how to interpret a policy,
and are familiar with prevailing case law in the jurisdictions where
the agency does their business, as well as having a working
relationship with the carriers with which the agent deals.
IMO, if you're not getting straight answers from your agent, or if you
cannot TRUST the answers your agent is giving, you need to find a new
agent. We're not all the same. I spent a good chunk of my life as a
carrier adjuster, handling multi-line claims (commercial and personal)
before moving to the agency side. My agency is very proactive in
training their employees and in providing us with educational
opportunities and encouraging us to maintain our scope of knowledge.
Most of the top performers in my department have a carrier background,
and it DOES make a difference.
I know how to read policy language in light of the laws of the
jurisdictions where we sell our policies. I know how to interpret a
policy, I know how an adjuster is likely to interpret a policy, and I
know how to crack open a grey area to provide coverage on a claim
where the determination could go either way. I k | | |
