Did you know that your auto liability policy might not cover exposures you assume under a loan, lease agreement, or contract? Several types of contracts and agreements are not insured contracts and may expose you to unwanted legal action. There are two types of common agreements that are normally excluded from your auto liability coverage:
A contract or agreement for the loan, lease, or rental of an auto; the terms require you to hold the lessor harmless for any liability loss.
A contract or agreement you sign when trip leasing to another trucker; the terms require you to provide primary liability insurance.
Commercial Auto Extension Endorsement
Great West can provide blanket coverage for these two types of contracts by adding the Commercial Auto Extension endorsement to your auto liability insurance policy. A great value, this endorsement provides affordable insurance protection while you meet that next deadline.
If we attach this endorsement to your truck liability policy, we will also delete the exclusion under our cargo coverage applying to liability under a lease agreement.This summary is intended for informational purposes only and does not replace or modify the definitions or information contained in any insurance policy or declaration page, which controls all coverage determinations. Terms and conditions may vary by state, and exclusions may apply.