Coverage
Lessors' Contingent & Excess Coverage
Lessors' contingent and excess coverage provides backup liability protection for companies leasing vehicles when the lessee's insurance is insufficient or non-existent. This coverage protects lessor interests and fills coverage gaps in lease agreements.
Who Needs This Coverage
- Equipment leasing companies
- Fleet leasing operations
- Truck and trailer lessors
- Vehicle financing companies
- Commercial vehicle rental operations
What's Covered
- Contingent liability for lessor
- Excess coverage over lessee's insurance
- Physical damage protection for leased assets
- Gap coverage when lessee coverage fails
- Lessor's contractual liability
- Repossession coverage