Lessors Contingent Liability / Contingent Physical Damage / Excess Liability Coverage

Philadelphia Insurance Companies is committed to providing a full range of insurance products to the automobile leasing industry and is recognized as a premier writer of these coverages, providing in-depth knowledge and underwriting flexibility to give the broadest coverage at competitive prices.

Philadelphia Insurance Companies Coverage Features Include:

• Contingent Liability limits of $100,000 per person, $300,000 per occurrence bodily injury, and $50,000 per occurrence property damage are provided.
• Contingent Physical Damage deductibles of $500 or $1,000 available for both comprehensive and collision. $40,000 maximum payment per loss is applicable, higher limits are available upon request.
• Excess Liability limits from $500,000 to $10,000,000 are available.
• Lessor is required to exercise due diligence as defined in the policy in obtaining and maintaining evidence of primary automobile liability and physical damage insurance in accordance with the terms of the lease agreement.

Documents Required for Binding Quotation:

• Completed and signed Philadelphia Insurance Companies application
• Copy of current lease agreement.
• Outline of present system of obtaining and maintaining evidence of insurance.
• Demographic profile of current fleet and forecast of fleet over next 12 months.

Philadelphia Insurance Companies, One Bala Plaza, Suite 100, Bala Cynwyd, PA, 19004. Phone: (610)617-7900 x7734; Fax: (610)617-7940.