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  1. Rental coverage—who is an insured | Ask PIA

    Is there a difference between commercial lines versus personal lines regarding who is an insured?

    No. For purposes of the rental vehicle endorsement, the definition of “insured” is the same—it is the “named insured or any resident relative.” Because the vehicle(s) must be owned by an individual or husband/wife (except for certain farm business vehicles), the “named insured” will be a natural person even if...

  2. Rental term—extended vacation | Ask PIA

    What if the insured is going on an extended vacation for 45 days? How will the insured be covered for the rental car?

    The insured is limited to 30 days, so it would be necessary to limit the contract to 30 days and take out another contract for 15 days in order to remain covered by the New York Rental Vehicle Coverage Endorsement. For an in-depth discussion, see QuickSource document No. QS31258, titled Pitfalls...

  3. Rental term | Ask PIA

    What if an insured rented a vehicle while in Florida for the winter for 60 days, and didn’t renew the agreement after the 30-day limitation, then had an accident. Would their own personal auto policy provide coverage subject to their physical damage deductible?

    No, unfortunately. All coverage for rental vehicles has been removed from Part D coverage by the ISO Amendment Of Policy Provisions—New York (PP 01 79) endorsement, not just those covered by the Rental Vehicle Coverage Endorsement.

  4. Coverage limits | Ask PIA

    Does the property damage liability limit apply to the rental vehicle coverage?

    The policy’s property damage liability limit does not apply. Damage to the rental vehicle is subject to the Rental Vehicle Coverage Endorsement, which provides unlimited coverage for physical damage that occurs to the rental vehicle, and for other financial obligations of the renter to the rental-car company (such as loss...

  5. Deductible | Ask PIA

    I have a personal-lines insured who has a New York auto policy with Company X. She rented a car outside of New York and was involved in a collision. Company X paid for the damage to the rental car under the collision coverage, subject to her $500 deductible. We were...

    This claim should have been settled under the terms of the Rental Vehicle Coverage Endorsement—New York (PP 03 46), not the policy’s Part A—Liability Coverage or Part D—Coverage For Damage To Your Auto. The endorsement provides coverage without a deductible and includes all damages (including loss of use) that are...

  6. Property damage liability coverage | Ask PIA

    Is rental car coverage provided by the property damage liability under the New York auto policy?

    You will not find protection for damage to the rental car under Part A because of the care, custody and control exclusion.

  7. Loss of use | Ask PIA

    Is it true that New York rental-car companies cannot charge any additional fees for loss of use or for “loss valuations?”

    Rental-car contracts entered into in New York cannot impose charges for loss of use or administrative fees because the contractual loss-valuation method is set by statute. Rental-car companies in other states, however, may be allowed to charge these fees and define loss valuation in different ways. Nevertheless, these additional costs...

  8. Valuation | Ask PIA

    It has been brought to my attention that most personal auto policies cover the actual-cash value of the vehicle, while some rental agreements may obligate the renter to reimburse the rental company for the replacement value of the vehicle, or possibly a stipulated value. Seems this fact alone is enough...

    Not really. The mandatory Rental Vehicle Coverage Endorsement—New York (PP 03 46) endorsement promises to pay whatever the contractual obligation is, regardless of the valuation method used in the rental contract. Of course, if the vehicle is rented in New York, Insurance Law Section 396-z limits the damages to the lesser...

  9. Loss of use and fees | Ask PIA

    What if a New York insured rents a vehicle in another state that allows rental companies to charge for loss of use? Is there any coverage gap to justify purchase of a collision damage waiver?

    Coverage is provided for the insured’s contractual obligations, including loss of use, administrative fees and towing and storage. So, there would be no coverage gap that would justify the purchase of a collision damage waiver to cover the vehicle’s loss of use.

  10. Coverage territory—out-of-state rentals | Ask PIA

    I have heard in previous seminars that the insured would be wise to purchase CDW from the rental company when out of state. They stated that if you had a bad accident out of state that required you to attend a trial, etc., in order for your expenses to be...

    There would be no reason to have a trial, if the insurer paid the damages required of the rental agreement. I do not understand the basis for this advice.

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